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Special Report / Fin. Disclosure #483356

NBC Evening News for Friday, Jun 20, 1975
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(Studio) Special report deals with lack of financial disclosure by several members of Congress NBC's James Polk looks into several cases of property held in 3 states by people elected to Congress; this property doesn't have to be disclosed to constituents.
REPORTER: John Chancellor

(Destin, Florida) Land once federally owned, now $multimillion ocean-side hsing. development Representative Robert Sikes pushed bill through Congress to smooth way for development of this land, but didn't tell Congress he was founder and officer of 2 corps. holding leases on this land. Details of Sikes' investments outlined. In written statement to NBC, Sikes says he did nothing wrong.
REPORTER: James Polk

(Bentson, Illinois) Former Representative Kenneth Gray supported legislature for federal money to build reservoir in major recreation area in his district. In 1965, Gray's widowed aunt bought land before it was dvtd. into recreation ctr., but transferred deed to Gray 4 days later; 4 years later, new deed publicly recorded after construction of lake dam underway. Gray says he made no profit.
REPORTER: James Polk

(Arlington, Virginia) Senator Abraham Ribicoff owned portion of partnership in building rented by federal government and used by CIA. Law and federal leasing regulations strictly forbid any congress members to be part of such contract with government Ribicoff's office says he sold his share of ownership at no profit when he discovered building leased to government
REPORTER: James Polk

(DC) Legis. pends in Congress that would force disclosure of financial holdings. [Bill sponsor Senator Howard CANNON - says disclosure bill to lead to more openness and honesty.]
REPORTER: James Polk

Chancellor, John;
Polk, James

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