An editing error in a story yesterday on the stock sales of Sen. John W. Warner (R-Va.) incorrectly listed when he will be up for reelection. The date is 1990.
Virginia Republican Sen. John W. Warner, moving to settle one of the few issues that dogged him during his successful reelection campaign last month, has sold nearly all of his stock holdings in defense-related industries and other companies, the senator's chief aide said yesterday.
Warner was sharply criticized in the closing days of the campaign by his opponent, Democrat Edythe C. Harrison of Norfolk. Harrison charged that Warner's stock holdings of about $350,000 and contributions from defense-related political action committees of about $200,000 were potential conflicts of interest because Warner sits on the Senate Armed Services Committee.
Warner, running for a second Senate term, defeated Harrison 70 percent to 30 percent, a record for modern Virginia campaigns.
Speaking to reporters in Richmond, Warner said his victory margin "is a strong reflection that there is no lack of confidence in my integrity by the people of Virginia."
Andrew Wahlquist, Warner's administrative assistant, said Warner told reporters that "I've sold all my stocks . . . except there's one little ice cream company . . . . It may be that the company is selling ice cream to a military post exchange, that's the absurdity of this situation."
The stocks Warner sold included holdings in such firms as IBM and Lockheed.
Warner, who had promised during the campaign to reassess his holdings after the election, was clearly nettled by Harrison's charges. He said then that she was questioning his integrity unfairly and noted that all of the information Harrison used was in a public disclosure form he had filed with the Senate.
Warner, whose net worth is about $4 million, said his stocks represented less than one-tenth of one percent of his holdings, most of which are land and bonds. He said the stock holdings were "owned in error" and purchased without his knowledge by authorized stockbrokers who were buying for a group of investors and not just Warner.
"Quite frankly, I've got many more important things to be involved with than worrying about this sort of situation," Warner told the Richmond News Leader.
All members of the Senate are scheduled to file a new financial holding statements next year.
On another money issue, Wahlquist said yesterday that Warner's more than $2 million Senate campaign effort ended with a surplus of about $100,000. Wahlquist said Warner had not decided what to do with the funds, but suggested that the reelection committee may hold the funds for Warner's next Senate campaign effort in 1980.