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Reagan Assets List $250,000 From Trust

May 20, 1987|Associated Press

WASHINGTON — President Reagan received at least $250,000 last year--and possibly much more--by liquidating a bank trust he established two decades ago, according to a financial disclosure report released today.

The report also showed that Nancy Reagan invested tens of thousands of dollars in a money market fund and state and county municipal bonds in California.

The disclosure form also itemized nine gifts the Reagans accepted last year, including a footstool valued at $135 from Vice President George Bush.

The exact amounts of the Reagans' transactions were not disclosed. The reporting form lists broad categories of amounts, such as $1,001 to $5,000, and at the highest level, above $250,000.

Presidential spokesman Marlin Fitzwater said proceeds from the liquidation of the bank trust, set up in 1966, were put into a blind trust Reagan created to handle his money when he assumed 1952998688assigned to the value of the bank trust was more than $250,000.

The most expensive gift Reagan received was a $10,065 tractor and equipment given by a group of Reagan's longtime friends. Other gifts were a 1932 class ring from his alma mater, Eureka College, an antique teapot, a leather briefcase, leather gloves, an air compressor and a porcelain ink pot.

More than 100 members of the Secret Service presidential protective division staff gave Reagan a sweater and horse-stall nameplates for his California ranch.

Four separate investments made by Mrs. Reagan were put under the category listing a value of $15,001 to $50,000, while another was put in the category of $5,001 to $15,000.

The release of Reagan's report follows by a day the disclosure that White House Chief of Staff Howard H. Baker Jr. earned more than $1.2 million last year as a lawyer.

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