Murkowski wealthiest among Alaska congressional delegation

Posted: Tuesday, June 20, 2000

FAIRBANKS (AP) -- Sen. Frank Murkowski is the wealthiest of Alaska's three-member congressional delegation, according to some financial disclosure statements released last week.

The annual financial statements report how much money senators and House members have made in addition to their $141,000-per-year salaries.

The figures are reported mostly in ranges rather than in precise amounts.

Murkowski and his wife, Nancy, who list their assets jointly, had between $1 million and $5 million invested in publicly traded stock in the National Bank of Alaska in 1999. The bank recently was sold to Wells Fargo.

The Murkowskis also owned a similarly valued portion of the First Bank in Ketchikan. The NBA investment earned them between $15,000 and $50,000 last year, and the First Bank ownership earned them the same amount.

They also earned between $13,900 and $29,500 on a variety of smaller bank accounts, stock investments and partnerships. Their larger stock holdings include General Electric and Key Corp.

Murkowski is a managing partner with a 33 percent interest in Frontiers-Alaska, an Anchorage investment company. The company owns 50 percent of EBD Cold Storage and 100 percent of New Frontier Ventures, both in Anchorage. The senator has been a partner in Frontiers-Alaska since 1970, but he became a partner in New Frontier last year.

They also own two homes -- a personal residence in Washington, D.C., and a condominium in Park City, Utah, a popular ski area. Each is valued between $100,000 and $250,000.

They also own some undeveloped land in Fairbanks and around the state.

Sen. Ted Stevens and his wife, Catherine, earned between $24,000 and $60,000 from a number of credit union accounts, IRAs, bank accounts, trusts, dividends and investments.

The disclosure report said their largest investment, between $100,000 and $250,000, was moved from Key Trust to McKinley Capital Management in Anchorage last year.

Stevens also reported earnings from a few other investments, and the pair own homes in Washington, D.C., and Girdwood.

Rep. Don Young's income outside his congressional pay came from a few small sources.

The disclosure report said Young received a $4,270 pension from the state of Alaska. That was based on his work as a public school teacher in Fort Yukon from 1960 to 1968 and as a legislator from 1967 to 1973.

Young collected between $8,000 and $16,500 from the permanent fund dividend and interest on some IRAs, credit union accounts, mutual funds and insurance, the report said.

Young also has a mortgage on property north of Fairbanks. He did not report his home in Washington, D.C., although the reporting of homes is not required.



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