Feinstein Gains Donors but Still Lags in Campaign Funds

Former San Francisco Mayor Dianne Feinstein’s surge in the opinion polls has put new life into her efforts to raise money for her campaign for governor, but her fund-raising remains far behind that of Atty. Gen. John K. Van de Kamp, her opponent for the Democratic nomination, according to figures reported Thursday.

Whichever Democrat wins the nomination will face a heavily financed Republican in the general election. U.S. Sen. Pete Wilson, a cinch to be the GOP nominee, reported $4.26 million in the bank as of March 17--more than Feinstein and Van de Kamp combined.

Van de Kamp, who held an early lead over Feinstein in the polls, had hoped to coast to victory in the June 5 primary and save his resources to use against Wilson in the general election campaign. But a dramatic early television advertisement for Feinstein helped boost her into the lead in two major polls, and contributors appear to have reacted positively to her new-found credibility as a candidate.

As of March 17, Feinstein reported having $701,160 on hand after raising $451,093 since Jan. 1. A campaign spokeswoman said Feinstein’s receipts had nearly tripled in each month of 1990, from $35,000 in January to $105,000 in February and $310,000 in March.

Significantly, none of Feinstein’s new money came from the substantial resources she shares with her husband, a wealthy San Francisco investment banker. Feinstein and her husband loaned the campaign more than $1 million in 1989.

“It’s a whole new ballgame,” Feinstein campaign chairman Duane Garrett said. “People now believe that Dianne Feinstein can win, not just the primary, but the general election, and that fact is reflected in our ability to raise money.”

Van de Kamp reported raising $500,115 since Jan. 1. Although Feinstein attracted almost as much money during that period, Van de Kamp maintained a 3-1 lead in cash on hand because of his big early advantage. As of March 17, the attorney general reported having $2.38 million in reserve.

Duane Peterson, a spokesman for Van de Kamp, said the numbers reported to the secretary of state Thursday do not reflect $350,000 the campaign just spent to buy a week’s worth of television advertising in Los Angeles, San Francisco, Sacramento and San Diego.

Although Wilson has no opposition in the Republican primary, he spent $1.9 million between Jan. 1 and March 17, while collecting $1.3 million.