REP. STEPHEN NEAL (D-NC)

• On June 10, 1992, Rep. Neal purchased between 1,000 and 15,000 dollars worth of stock in Pall Corp. He sold this stock on August 16, 1993. Pall Corp. manufactures specialty filters for use in aircraft, including filters for hydraulics, oil systems, and fuels.

On the same day (June 10, 1992), a bill was introduced which, if passed, would appear to help Pall Corp. The bill was 1992 H.R. 5362: GENERAL AVIATION STANDARDS ACT. This bill amends the Federal Aviation Act of 1958 with respect to aviation accidents. In particular, the bill establishes a limitations of actions period of 12 years from delivery of defective aircraft part to liability. And the bill (Act) supersedes any State laws regarding manufacturer liability in aviation accidents.

Investigators of the recent USAIR (Pittsburgh, PA) accident are considering whether contaminated hydraulic fluid may have been a cause. And airlines are now discussing changes in their fluids-inspection procedures.

• On October 26, 1992, Rep. Neal purchased between 1,000 and 15,000 dollars worth of stock in the Federal National Mortgage Association.

Three weeks earlier (on October 3, 1992), the House voted (by voice) to pass H.R. 6094: FEDERAL HOUSING ENTERPRISES FINANCIAL SAFETY AND SOUNDNESS ACT...To improve supervision and regulation with respect to the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Federal Home Loan Bank system (Referred to Rep. Neal's House Banking Committee).

• On October 27, 1992, Rep. Neal purchased between 1,000 and 15,000 dollars worth of stock in Johnson & Johnson. On the same day, President Bush signed 102 P.L. 531: PREVENTIVE HEALTH AMENDMENTS ACT OF 1992. This bill contains huge appropriations for Preventive Health and Health Services Block Grants, administered by the Department of Health and Human Services. The bill apparently authorizes programs for disease diagnostics and prevention thru the CDC.

Johnson & Johnson has a diagnostic products unit known as Ortho Diagnostic Systems Inc.. Ortho produces products used to diagnose diseases such as AIDS, Influenza-B, Hepatitus, Herpes, Chicken Pox, and Chlamydia.

POLITICAL MONEY NOTES: Since 1988, Rep. Neal has accepted $2,600 in campaign contributions from Federal National Mortgage Association PAC, including a $500 contribution on October 14, 1992 (twelve days before his stock purchase).

ETHICS NOTES: Rep. Neal places the the following note on all of his financial disclosure reports: "To avoid the possibility of even the appearance of any conflict of interest, I've invested the money I earned before being elected to Congress almost entirely in either broad based mutual funds or North Carolina Bonds. The one exception was Quaker Oats which I thought would be a good investment because they are the major supplier of oats and it was discovered oats help lower cholesterol. (The MMM was a gift from my mother). I have spent almost no time on personal investments or personal business of any kind."

NOTES: Rep. Neal is # 2 on the House Banking Committee; he is # 1 on the House Banking Subcommittee on Financial Institutions Supervision, Regulation and Insurance. Rep. Neal is also # 3 on the House Government Operations Subcommittee on Legislation and National Security.