ustxtxb_obs_1978_03_17_50_00022-00000_000.pdf

PRIME RIP STEAK LOWER CRAB actin’s had Austin, Corpus Christi, Victoria, Brownsville, Temple, McAllen, Port Aransas, Tucson DINERSCollege Station, San Antonio, Lake Tahoe Complete Computer Data Processing Services – 22 MARCH 17, 1978 Steel, Texaco, Shell, Ensearch Corporation, Champlic Petroleum Company, and the Drilling Contractors’ Association. Information available on the personal finances of the two Democrats reveals similar degrees of affluence. Krueger’s gross income in 1976 was $95,074. Various tax deductions and allowances on his ranch and other interests brought his final IRS payment for the year to $6,892. Christie reported a gross income of $96,731 in 1976. His deductions and allowances, primarily from oil operations, brought his federal tax obligation to $9,760. What all this comes down to is that the two candidates paid 10 percent or less of their total incomes in taxes. Middle-income and low-income Americans typically fork over 25 percent or more of their earnings to the IRS. Christie’s press secretary, Robert Heard, estimated his candidate’s overall wealth at $500,000. Most of Christie’s investments are in clothing factories, but he is also good for about $200,000 in oil and gas leases. He has small holdings in one national petroleum stock. Mauro and Jim Land put Krueger’s current worth at $750,000, with approximately equal holdings in a stock portfolio and the family’s East Texas ranch. A Dallas Morning News report last year on potential conflicts of interest ‘among members of the Texas delegation to Congress showed that Krueger was the only member with stock in top defense contractors, one of seven members with oil and gas securities, and one of two members with pharmaceutical stock. His investor participation in every category was unique. Land has tried to sell stock which might cause an obvious conflict for Krueger. Shares in El Paso Natural Gas, Apco Oil, and Northwest Pipeline were sold in 1976. Krueger’s holdings in several South African companies were sold last year. Mauro said recently that the stock in Brinkman’s Giffen Industries would be sold this year. Krueger’s January portfolio report lists current stock holdings worth about $400,000. He still owns shares in seven banks, including Mercantile Texas and Texas Commerce Bancshares, and stock in five top defense contractors. Krueger has a $39,000 investment in Union Carbide, the largest supplier of radioactive materials to the Atomic Energy Commission. Oil and gas holdings are there, too, even if the corporate names don’t suggest it. Krueger’s largest single stock investment is in Allied. Chemical, which owns major gas exploration and pipeline companies in Texas. Both Allied Chemical and Imperial Chemical, another Krueger holding, have large interests in North Sea oil production.