USA > Massachusetts > Middlesex County > Melrose > City of Melrose annual report 1907 > Part 9
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Town Hall Loan Sinking Fund :
The purchase of a City Note July 30, 1907, $1,500.00, for one year at 5 1-4 per cent interest was not recorded in the Minute Book.
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AUDITORS' REPORT
Surface Drainage Loan Sinking Fund :
The purchase of a City Note, May 3, 1907, $1,934.85, for three years at 4 1-2 per cent interest was authorized by the Commissioners' minute as a note for two years only.
Sewer Loan Fund :
The purchase of $10,000.00 Sewer Bonds for retirement along with other Bonds held by the Fund, was not formally ratified by resolution of the Commissioners.
Water and School Loans Sinking Funds :
The transfer from the Water Loan Fund to the School Loan Fund of 12 School Bonds due 1916 at 103.83, on a 3 1-2 per cent basis, $12,459.60 (which were originally purchased for the Water Fund for $12,759.96,) involving a loss to the water fund of $300.36, does not appear to have been ratified by Resolution of the Commissioners.
Water and Sewer Loans Sinking Funds :
The retirement of the following matured Bonds was not for- mally confirmed by Resolution of the Commissioners.
May 1, 1907. Water Loan Fund $50,000.00 Bonds re- tired.
June 1, 1907. Sewer Loan Fund $25,000.00 Bonds re- tired.
We have checked the transfers of securities between the various Funds during the year, and we are of the opinion that such transfers (except in the case of securities tranferred on maturity for retirement) should be authorized by Resolution of the Commissioners, and should be effected at prices which equitably apportion the cost of any premiums paid when the Securities were originally purchased.
The Sinking Fund appropriations received by the Commis- sioners during the year on behalf of the various Funds were as follows:
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CITY OF MELROSE
From City
From Spot Pond Award
Tota
Water Loan Fund.
(None)
Sewer Loan Fund
(None)
School Loan Fund .
$7,222.00
$37,945.07
45,167 .07
Town Hall Loan Fund
(None)
Surface Drainage Loan Fund.
1,711 .00
1,711 .00
Totals.
$8,933.00
$37,945.07
$46,878.07
The Commissioners are quite uncertain whether or not ad- equate provision has been made by the City in the past for the requirements of the Sinking Funds, and, during the course of our examination of the Securities and verification of the in- come and disbursements, we received from their Secretary a copy of a Resolution which was passed by them on February 6, 1908, as follows:
"Voted: That we request the auditor to ascertain if the proper amounts have been appropriated by the City for the Sinking Funds each year to the Water Loan and Sewer Loan, and to report on this matter to His Honor, Mayor Moore, in connection with the report regarding the examination of the Sinking Fund Securities."
Upon referring to you, we learned that the request of the Commissioners could not be complied with, as the terms of the Order of the Board of Aldermen did not provide for this addi- tional investigation, and pending definite instructions, we have consequently taken no steps to determine whether or not the Commissioners have received from the City adequate ap- propriations for the requirements of the various funds, or whether the outstanding Bonded Indebtedness of the Munici- pality at date, which has been created through successive bond issues, dating since the year 1892, is properly protected through the operation of the Sinking Funds.
The following summary shows the amount of the City Loans at present outstanding, the par value of the Securities held on behalf of their respective Sinking Funds at date, and the amount of the Bonds in each loan which fall due for redemption
169
AUDITORS' REPORT
at various periods within the next eight years, and these rep- resent a total of $382,000.00 without taking into consideration those which mature in succeeding and comparatively early years.
LOAN
Total Amt. of Loans Outstanding Jan. 28, '08
Value of Sinking Fund Securities at Par Jan. 28, '08 $143,127 .10 152,054 .41
Water Loan
$185,000.00
Sewer Loan
355,000 .00
School Loan ..
200,000 .00
104,673 .94
200,000.00
Town Hall Loan
45,000.00
39,518.09
45,000.00
Surface Drainage Loan
100,000 .00
12,986.62
Totals. . $885,000.00
$452,360.16
$382,000.00
BONDS MATURING WITHIN NEXT 8 YEARS
Amount
Remarks
$112,000.00 25,000.00
Maturing within 5 3-4 years. Maturing within 4 1-2 years. (A further amount of $300,000.00 matures between 1917 and 1926). Maturing within 8 years. Maturing within 4 3-4 years. Total issue of $100,000 matures in 1932.
170
CITY OF MELROSE
171
AUDITORS' REPORT
Apart from the appropriation taken from the Spot Pond Award for the School Fund, the actual Sinking Fund levies re- ceived from the City amounted to only $8,933.00 during the past year, and these were applied to the School Loan and Sur- face Drainage Loan Funds, while no City appropriations were made for the Water Loan and Sewer Loan Funds, although Water Loan Bonds, amounting to $112,000.00, fall due forretire- ment at various dates within the next six years, and more than 90 per cent of the outstanding Sewer Bonds mature in success- sive series at different periods prior to July 1, 1926. It is un- certain also whether the Commissioners' assumption is correct that the Sinking Fund Investments, after allowing for the cost of premiums lost upon redemptions and the loss of interest on capital temporarily uninvested, are accumulating interest at 3 1-2 per cent per annum net, and it should be borne in mind that during the past year the premiums written off in respect of securities retired or transferred by the Water Loan Fund alone, amounted to $1,062.22.
The revised laws of the Commonwealth provide under Chap- ter 27, Section 17, that:
"Cities shall continue to contribute to every Sinking Fund which has once been established, until such Sinking Fund, with its accumulations, shall be sufficient to extin- guish at maturity the debt for which it was established."
while Section 12 provides that:
"Cities shall annually raise by taxation and contribute thereto an amount sufficient with its accumulations to ex- tinguish the debt at maturity, and shall, in the year be- fore maturity of the debt, raise by taxation any balance necessary for its extinguishment."
It therefore follows that if through the present absence of any definite information regarding the condition of the Sink- ing Funds, the annual appropriations with compounded reven- ue should ultimately prove insufficient to redeem the City's Loans as they mature, such deficiency, however heavy, will thereupon have to be raised by taxation "in the year before maturity" although it might then beimpossible to raise the re-
I72
CITY OF MELROSE
quired amount without exceeding the statutory assessment limit.
Respectfully submitted,
SEAL
PATTERSON, FULLER & DENNIS, Certified Public Accountants.
June 5, 1908.
Hon. Eugene H. Moore, Mayor,
Melrose, Mass.
Dear Sir :- The Sinking Fund Commissioners, having con- sidered the report of Patterson, Teele & Dennis, make the fol- lowing statements regarding it, and request that they be printed in connection with this report.
First, the fiscal year of the Sinking Fund Commission ends December 31, according to Act of Legislature passed in 1906, instead of January 28.
Second, checks and orders of the Treasurer on both the Mel- rose National Bank and the Melrose Savings Bank are honored only when countersigned by one of the Commissioners, as per their written instructions filed with each Bank on April 13, 1907.
Third, items of income amounting to $339.34, mentioned as not being included in 1907 accounts, were properly not in- cluded, as they are items of income of 1908.
Fourth, items of income amounting to $3,307.50, though not collected until January 1908, were properly included in 1907 accounts, as they were items of income, which had been earned in 1907.
Fifth, in reference to statement regarding Commissioners' records, would say, all the transactions referred to are now properly recorded in the records, although the Commissioners
I73
AUDITORS' REPORT
do not feel it necessary or obligatory to pass a formal vote to pay bonds which mature at fixed dates, and for which funds had been provided.
Sixth, we would call the attention of the Board of Aldermen to the resolution passed by us on February 6, 1908, asking the auditor to ascertain if proper amounts of money had been ap- propriated to the various Sinking Funds.
Seventh, the Commissioners have never assumed that the present Sinking Funds are adequate, but are informed by the City Treasurer that under a former administration an expert's opinion was obtained, and the necessary amounts as estimated by him were appropriated to meet at maturity, all outstanding bonds then issued.
Truly yours,
FRANKLIN P. SHUMWAY, Clerk.
STATEMENT SHOWING THE COMMISSIONER'S CASH, RECEIPTS AND DISBURSEMENTS FOR THE YEAR ENDING JANUARY 28th, 1908.
SCHEDULE A
Water Loan Fund
Sewer Loan Fund
School Loan Fund
Town Hall Loan Fund
Surface Drainage Loan Fund
Total
RECEIPTS.
Bank Balances, Jan. 28, 1907
$2,877.07
$1,827 .08
$724.43
$256.60
$2,313.88
$7,999.06
Proceeds of Investments Sold or Trans- ferred, Schedules B to F
29,959.60
28,299 .84
29,800.00
4,800.00
600.00
93,459 .44
Income from Investments, Exhibits 1
7,441.76
7,462.32
3,414 .07
1,515.94
415.69
20,249 .78
Appropriations.
From Spot Pond Award From City
37,945.07 7,222.00
1,711.00
37,945.07 8,933.00
Total Receipts
$40,278.43
$37,589.24
$79,105.57
$6,572 54
$5,040.57
$168,586 .35
PAYMENTS.
Securities Acquired, viz :
Bonds (par value) .
$35,000.00 616.50 3,000.00
$31,000.00
$45,000.00 598.29 32,210.00
$3,500.00 16.70 2,961.00
$2,500.00 16.70 2,423 .85
$117,000.00 1,248.19 45,594 .85
Cost of Securities acquired, Schedules B to F .
$38,616 50
$36,000.00
$77,808.29
$6,477.70
$4,940.55
$163,843.04
Treasurer's Salary
30.00
30.00
30.00
30.00
30.00
150.00
Rent of Safe Deposit Vault
2.33
2.33
2.34
7.00
7.00
21.00
Miscellaneous Expenses
2.50
2.50
1.00
75
.25
7.00
Total Payments
$38,651 .33
$36,034.83
$77,841.63
$6,515.45
$4,977.80
$164,021.04
Bank Balances, Jan. 28, 1908
1,627.10
1,554.41
1,263.94
57.09
62.77
4,565.31
$440,278.43
$37,589 .24
$79,105.57
$6,572.54
$5,040.57
$168,586.35
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CITY OF MELROSE
Premiums on Bonds.
City Notes
5,000.00
to 5
175
AUDITORS' REPORT
WATER LOAN SINKING FUND INCOME FROM INVESTMENTS RECEIVED DURING YEAR ENDING JANUARY 28TH, 1908.
Schedule A., Exhibit I.
4 Melrose Water Bonds, due 1913, Nos. 35-38 ..... $160.00
10 Melrose Water Bonds, due 1925, Nos. 428-437 (112 years) 600.00
5 Melrose Water Bonds, due 1918, Nos. 456-460. .. 200.00
2 Town of Milton Bonds, due 1910, Nos. 87, 88 . ..
70.00
3 Melrose Water Bonds, due 1912, Nos. 21-23. 120.00
11 Melrose Water Bonds, due 1912, Nos. 15-25. 440.00
5 Melrose School Bonds, due 1916, Nos. 1-5.
200.00
20 Melrose Surface Drainage Bonds, due 1932, Nos. 41-60 (1 12 years). 1,200.00
1 Note, City of Melrose, due 1908 18.74
1 Note, City of Melrose, due 1909 18.74
2 Melrose Sewer Bonds, due 1925, Nos. 144-145 80.00
1 Note, City of Melrose, due 1909 52.50
1 Note, City of Melrose, due 1909 40.00
1 Note, City of Melrose, due 1910 40.00
4 Melrose Water Bonds, due 1912, Nos. 11-14. 160.00
22 Melrose Water Bonds, due 1912, Nos. 1-20, 36, 37
SS0.00
24 Melrose Water Bonds, due 1925, Nos. 400, 410- 426, 403-408 (1 12 years) 1,440.00
1 Melrose Water Bond, due 1913, No. 33 40.00
1 Melrose Water Bond, due 1913, No. 34 40.00
5 Melrose Surface Drainage Bonds, due 1932, Nos. 76-80 200. 00
7 Melrose Water Bonds, due 1912, Nos. 24-30. 140.00
2 Melrose Water Bonds, due 1913, Nos. 46, 47. . . 40.00
4 Melrose Water Bonds, due 1918, Nos. 438, 439, 450-455 80.00
1 Note, City of Melrose, due 1909
45.00
Amount carried forward
$6,304.98
176
CITY OF MELROSE
Amount brought forward $6,304.98 30 Melrose Water Bonds, due 1907, Nos. 36-40, 8,
11, 12, 21-30, 35, 43,50, 1-3. 660.00
12 Melrose Sewer Bonds, due 1907, Nos. 251-255, 259-265 240.00
3 Melrose Sewer Bonds, due 1907, Nos. 256-258 . .
60.00
12 Melrose School Bonds, due 1916, Nos. 19, 20, 146-150, 171-175 240.00
1 Note, City of Melrose, due 1907 18.76
Melrose National Bank, Interest on deposits 34.68
Melrose Savings Bank, Interest on deposits 9.56
$7,567.98
Deduct : Payments for Interest Accrued:
7 Melrose Water Bonds, due 1912, Nos. 24-30 $70.00
2 Melrose Water Bonds, due 1913, Nos. 46, 47 13.33
4 Melrose Water Bonds,
due 1918, Nos. 438, 439, 450, 455 40.00
2 Melrose Sewer Bonds, due 1937, Nos. 361, 362 2.89 126.22
$7,441.76
SEWER LOAN SINKING FUND.
INCOME FROM INVESTMENTS RECEIVED DURING YEAR ENDING JANUARY 28TH, 1908.
Schedule A., Exhibit 2. due 1908, No. 9. 40.00
1 Melrose Park Loan Coupon Note,
1 Melrose Park Loan Coupon Note, due 1909, No. 10. 240.00
Amount carried forward $280.00
177
AUDITORS' REPORT
Amount brought forward . $280.00
10 Melrose Sewer Bonds, due 1917, Nos. 301-310 (1 1/2 years) . 600.00
17 Melrose Surface Drainage Bonds, due 1932, Nos. 4-20 (1 12 years) 1,020.00
20 Melrose Surface Drainage Bonds, due 1932, Nos. 21-40 (1 12 years) 1,200.00
4 City of Waltham Bonds, due 1913, Nos. 257-260
160.00
3 Chicago, Burl. & Q. R. R., due 1949, Nos. 7,695- 7,697 ( 1 12 years) 157.50
2 Town of Milton Bonds, due 1910, Nos. 82, 83 70.00
10 Melrose Water Bonds, due 1918, Nos. 463-472. .. 400.00
10 Melrose Sewer Bonds, due 1935, Nos. 351-360. . 400.00
43 Melrose Sewer Bonds, due 1925, Nos. 101-143. . 1,720.00
1 Note, City of Melrose, due 1908. . 35.00
4 Melrose School Bonds, due 1916, Nos. 107-110. . 160.00
1 Melrose School Bond, due 1916, No. 21 . 40.00
12 Melrose School Bond, due 1916, No. 22. 20.00
1 Note, City of Melrose, due 1908 85.00
4 Melrose Sewer Bonds, due 1924, Nos. 77, 88, 90, 97 160.00
4 Melrose Sewer Bonds, due 1912, Nos. 296-299 160.00
2 Melrose Water Bonds, due 1907 Nos. 4-5 40.00
7 Melrose Water Bonds, due 1912, Nos. 24-30.
210.00
2 Melrose Water Bonds, due 1913, Nos. 46-47.
53.33
4 Melrose Water Bonds, due 1918, Nos. 438, 439, 450, 455 120.00
1 Melrose Sewer Bond, due 1912, No. 300 20.00
3 Melrose School Bonds, due 1916, Nos. 23-25 92.00
1 Note, City of Melrose, due 1907 22.75
1 Note, City of Melrose, due 1907 68.25
1 Note, City of Melrose, due 1907 22.75
1 Note, City of Melrose, due 1907 85.00
1 Melrose Park Loan Coupon Note, due 1907 20.00
3-10 Note, City of Melrose 11.47
Melrose National Bank, Interest on deposits 35.05
Melrose Savings Bank, Interest on deposits 2.88
Amount carried forward $7,470.98
178
CITY OF MELROSE
Amount brought forward $7,470.98
Deduct : Payment for Interest Accrued:
6 Melrose Sewer Bonds, due 1937, Nos. 363-368 8.66
$7,462.32
SCHOOL LOAN SINKING FUND INCOME FROM INVESTMENTS RECEIVED DURING YEAR ENDING JANUARY 28, 1908.
Schedule A., Exhibit 3.
7 Melrose Water Bonds, due 1918, Nos. 440-446. .. $280.00
10 Town of Clinton Bonds, due 1930, Nos. 132-141 (1 1/2 years) 525.00
2 Town of Milton Bonds, due 1910, Nos. 85, 86. 70.00
1 Melrose Water Bonds, due 1918, No. 451 40.00
1 Melrose Water Bond, due 1918, No. 44S 40.00
1 Town of Milton Bond, due 1910, No. 84 35.00
3 Melrose Surface Drainage Bonds, due 1932, Nos. 1-3 (1 12 years) 180.00
4 Melrose School Bonds, due 1916, Nos. 15, 16, 18, 167 160.00
12 Melrose School Bond, due 1916, No. 22. 20.00
1 Note, City of Melrose, due 1908 26.24
6 Melrose Sewer Bonds, due 1924, Nos. 76, 81-85 240.00
1 Note, City of Melrose, due 1908 42.50
1 Note, City of Melrose, due 1909 40.00
1 Note, City of Melrose, due 1910
40.00
1 Note, City of Melrose, due 1911
40.00
13 Melrose Surface Drainage Bonds, due 1932, Nos. 61-73 520.00
12 Melrose School Bonds, due 1916, Nos. 146-150, 171-175, 19, 20 240.00
20 Melrose Surface Drainage Bonds, due 1932, Nos. 81-100 800.00
Amount carried forward. $3,338.74
AUDITORS' REPORT 179
Amount brought forward. $3,338.74
3 Melrose School Bonds, due 1916, Nos. 23-25 60.00
1 Note, City of Melrose, due 190S 95.00
3 Melrose Sewer Bonds, due 1912, Nos. 292-294 60.00
7 Melrose Sewer Bonds, due 1937, Nos. 371-377 140.00
1 Note, City of Melrose, due 1907 45.00
1 Note, City of Melrose, due 1907 13.13
7-10 Note, City of Melrose 26.76
1 Note, City of Melrose 137.22
Melrose National Bank, Interest on deposits 47.56
Melrose Savings Bank, Interest on deposits 14.10
$3,977.51
20 Melrose Surface Drainage Bonds, due 1932, Nos. 81-100. 353.33
3 Melrose School Bonds, due 1916, Nos. 23- 25 32.00
3 Melrose Sewer Bonds, due 1912, Nos. 292, 293, 294. 51.33
7 Melrose Sewer Bonds, due 1937, Nos. 371-377 126.78
$563.44
$3,414.07
TOWN HALL LOAN SINKING FUND.
INCOME FROM INVESTMENTS RECEIVED DURING YEAR ENDING JANUARY 28, 1908.
Schedule A., Exhibit 4.
2 Melrose Water Bonds, due 1918, Nos. 447, 449 $80.00 1
1 Melrose Water Bond, due 1918, No. 461 40.00
6 Melrose School Bonds, due 1916, Nos. 14, 185, 192-195 240.00
Amount carried forward $360.00
180
CITY OF MELROSE
Amount brought forward $3.60.00
10 Melrose Water Bonds, due 1912, Nos. 1-10 400.00
14 Melrose Water Bonds, due 1913, Nos. 19-32. 560.00
1/2 Melrose Sewer Bond, due 1912, No. 300 10.00
1 Note, City of Melrose, due 1908 23.75
3 Melrose Sewer Bonds, due 1937, Nos. 378-380 60.00
1 Note, City of Melrose, due 1907, (11years) 78.75
1 Note, City of Melrose, due 1907 17.50
1 Note, City of Melrose, due 1907 36.40
1 Note, City of Melrose, due 1907 5.81
Melrose National Bank, Interest on Deposits 18.06
Deduct: Payment for Interest Accrued:
$1,570.27
3 Melrose Sewer Bonds, due 1937, Nos. 378-380 54.33
$1,515.94
SURFACE DRAINAGE LOAN SINKING FUND. INCOME FROM INVESTMENTS RECEIVED DURING YEAR ENDING JANUARY 28, 1908.
Schedule A., Exhibit 5.
3 Melrose Water Bonds, due 1918, Nos. 452-454. .. 120.00
1 Melrose Water Bond, due 1918, No. 462 40.00
1 Note, City of Melrosé, due 1909 $5.00
2 Melrose Surface Drainage Bonds, due 1932, Nos. 74, 75. 80.00
12 Melrose Sewer Bond, due 1912, No. 300 10.00
1 Note, City of Melrose, due 1910 4 5.53
1 Note, City of Melrose, due 1907 24.27
Melrose National Bank, Interest on Deposits 13.78
418.58
Deduct : Payment for Interest Accured:
2 Melrose Sewer Bonds, due 1937, Nos. 369, 370 . . . 2.89
415.69
CITY OF MELROSE .- WATER LOAN SINKING FUND. Statement Showing the Securities Acquired, Sold or Retired by the Commissions during the Year ending January 28, 1908, and the Securities Held at that Date.
SCHEDULE B.
Cash and Securities On Hand January 28, 1907.
Cost of Securities Acquired During Year.
Proceeds of Securities Sold or Transferred During Yr.
Securities Retired During Yr.
Loss on Securities Retired or Transferred During Yr.
Deerease in Cash Balance.
Par Value.
Cost.
No.
Par Value.
Cost.
4 Melrose Water Bonds, Nos. 35-38.
due 1913,
$4,000.00
$4,000.00
IO Melrose Water Bonds, due 1925,
10,000.00
10,000.00
Nos. 428-437.
10,000.00
10,000.00
5 Melrose Water Bonds, due 1918,
5,000.00
5,290.00
Nos. 456-460.
5,000.00
5,290.00
2,000.00
2,035.00
Nos. 87 and 88
2,000.00
2,035.00
3,000.00
3,130.50
Nos. 21-23.
3,000.00
3,130.50
II Melrose Water Bonds,
due 1912,
11,000.00
11,489 .50
Nos. 15-25. .
11,000.00
11,489 .50
5 Melrose School Bonds,
due 1916,
Nos. 1-5.
5,000.00
5,318 .75
5,000.00
5,318 .75
20 Melrose Surface Drainage Bonds,
20,000.00
21,756.00
due 1932, Nos. 41-60
20,000.00
21,756.00
500.00
500.00
I Note, City of Melrose, due 1909.
500.00
500.00
500.00
500.00
due 1925,
2,000.00
2,168.38
I Note, City of Melrose, due 1909
1,500.00
1,500.00
1,500.00
1,500.00
I Note, City of Melrose, due 1909
1,000.00
1,000 .00
1,000.00
1,000.00
I Note, City of Melrose, due 1910.
1,000.00
1,000.00
1,000.00
1,000.00
4 Melrose Water Bonds, Nos. 11-14.
4,000.00
4,132.80
22 Melrose Water Bonds,
due 1912,
Nos. 1-20, 36, 37
22,000 .00
22,767 .80
22,000.00
22,767 .80
24 Melrose Water Bonds, due 1925,
24,000.00
26,028.00
Nos. 403-408, 400, 410-426. . .
24,000.00
26,028.00
I Melrose Water Bond, No. 33.
1,000.00
1,039 .40
1,000.00
1,039 .40
I Melrose Water Bond, No. 34.
1,000.00
1,039.40
5 Melrose Surface Drainage Bonds,
due 1932, Nos. 76-80 ...
5,000.00
5,419 .50
5 Melrose Water Bonds, due 1907,
Nos. 36-40
5,000.00
5,232.22
5,000.00
232.22
3 Melrose Water Bonds,
due 1907,
3,000.00
3,045.00
3,000.00
45.00
Nos. 8, 11, 12.
Amount carried forward
$131,500 .00
$138,392 .25
$8,000.00
$277.22
$123,500.00
$130,115 .03
500.00
500.00
I Note, City of Melrose, due 1908.
2 Melrose Sewer Bonds, Nos. 144 and 145
2,000.00
2,168.38
due 1912,
4,000.00
4,132 .80
due 1913,
1,000.00
1,039.40
5,000.00
5,419 .50
e
-
Cash and Seeurities On Hand January 28, 1908.
DESCRIPTION.
$4,000.00
$4,000.00
2 Town of Milton Bonds,
due 1910,
3 Melrose Water Bonds,
due 1912,
due 1913,
DESCRIPTION.
Cash and Securities On Hand January 28, 1907 .
Cost of Securities Acquired During Year.
Proceeds of Securities Sold or Transferred During Yr.
Securities Retired During Yr.
Loss on Securities Retired or Transferred During Yr.
Deerease in Cash Balance.
* Cash and Securities On Hand January 28, 1908.
Par Value.
Cost.
Par Value.
Cost.
Amounts brought forward .
$131,500.00
$138,392.25
$8,000.00
$277.22
$123,500.00
$130,115.03
14 Melrose Water Bonds, due 1907,
Nos. 1-3, 21-30, 35 ..
14,000.00
14,175.00
14,000.00
175.00
8 Melrose Water Bonds, due 1907,
Nos. 43-50.
8,000.00
8,054.64
8,000.00
54.64
12 Melrose Sewer Bonds, due 1907,
Nos. 251-255, 259-265.
12,000.00
12,225.00
12,000.00
225.00
3 Melrose Sewer Bonds, due 1907,
Nos. 256-258.
3,000.00
3,030.00
3,000.00
30.00
12 Melrose School Bonds, due 1916,
Nos. 146-150, 171-175, 19, 20.
12,000.00
12,759 .96
12,459 .60
300.36
500.00
500.00
500.00
2,000.00
2,000.00
2,000.00
7,304.50
7,000.00
7,304.50
2 Melrose Water Bonds, Nos. 46 and 47
due 1913,
2,080.00
2,000.00
2,080.00
I Note, City of Melrose, due 1909.
2,000.00
2,000.00
2,000.00
14 Note, City of Melrose, due 1908.
1,000.00
1,000.00
1,000.00
2 Melrose Sewer Bonds, due 1937,
Nos. 361 and 362
2,000.00
2,000.00
2,000.00
4 Melrose Water Bonds, due 1918,
Nos. 438, 439, 450, 455.
4,232 00
4,000.00
4,232.00
2 Melrose Water Bonds, due 1907,
Nos. 4 and 5
2,000.00
2,000.00
18 Melrose Water Bonds, due 1907, Nos. 6, 7, 9, 10, 13-20, 31-34, 41, 42.
18,000.00
18,000.00
,Add eash on hand: Melrose Savings Bank Melrose National Bank
135.14
135.14
2,741 .93
2,741 .93
$185,877 .07
$194,013.92
$38,616.50
$29,959.60
$50,000.00
$1,062.22
$1,249.97
$143,127.10
$150,358.63
*Denotes Inerease.
*8.24 1,258 .21
143.38 1,483.72
143.38 1,483 .72
I Note, City of Melrose, due 1907.
I Note, ('ity of Melrose, due 1907.
7 Melrose Water Bonds, . Nos. 24-30.
due 1912,
No.
CITY OF MELROSE. - SEWER LOAN SINKING FUND.
Statement showing the Securities Acquired, Sold, or Retired by the Commissioners during the Year ending January 28, 1908, and the Securities held at that Date.
SCHEDULE C.
DESCRIPTION.
Cash and Securities On Hand January 28, 1907.
Cost of Securities Acquired During Year.
Proceeds of Securities Sold or Transferred During Yr.
Securities Retired During Yr.
Loss on Securities Retired or Transferred During Yr.
Decrease in Cash Balance.
Cash and Securities On Hand January 28, 1908.
No.
Par Value.
Cost.
Par Value.
Cost.
I Melrose Park Loan Coupon Note, due 1908, No. 9.
$1,000.00
$1,000.00
$1,000.00
$1,000.00
I Melrose Park Loan Coupon Note,
due 1908, No. 10
6,000.00
6,000.00
0,000.00
0,000.00
IO Melrose Sewer Bonds,
due 1917,
10,000.00
11,258.05
10,000.00
11,258.05
17 Melrose Surface Drainage Bonds, due 1932, Nos. 4-20
17,000.00
18,570.80
17,000.00
18,570 80
20 Melrose Surface Drainage Bonds, due 1932, Nos. 21-40. .
20,000.00
21,848.00
20,000.00
21,848.00
4 City of Waltham Bonds, due 1913, Nos. 257-260.
4,000.00
4,398.44
4,000.00
4,398.44
Nos. 7,695 to 7,697
3,000.00
3,157 .42
3,000.00
3,157 .42
2 Town of Milton Bonds,
due 1910,
2,000.00
2,035.00
2,000.00
2,035.00
Nos. 463-473.
10,000.00
10,492.00
10,000.00
10,492.00
Nos. 351-360
10,000.00
10,915.00
10,000.00
10,915.00
43 Melrose Sewer Bonds, Nos. 101-143.
due 1925,
43,000.00 1,000.00
1,000.00
1,000.00
1,000.00
Nos. 107-110.
4,000.00
4,190.00
4,000.00
4,190.00
No. 21.
1,000.00
1,049 .98
1,000.00
1,049 .98
12 Melrose School Bond, No. 22.
due 1916,
500.00
524.99
500.00
524.99
I Note, City of Melrose, due 1908.
2,000.00
2,000.00
2,000.00
2,000.00
Nos. 77, 88, 90, 97
4,000.00
4,324 .1
4,000.00
4,324 .14
Nos. 296-299.
4,000.00
4,133.63
4,000.00
4,133.63
2 Melrose Water Bonds, Nos. 4 and 5 ..
due 1907,
2,000.00
2,022.50
2,000.00
22.50
Amounts carried forward.
$144,500.00
$155,540.12
$2,000.00
$22.50
$142,500.00
$153,517.62
Nos. 82 and 83
10 Melrose Water Bonds, due 1918,
Io Melrose Sewer Bonds,
due 1935,
46,620.17
43,000.00
46,620.17
I Note, City of Melrose, due 1908 ..
4 Melrose School Bonds, due 1910,
I Melrose School Bond, due 1910,
4 Melrose Sewer Bonds, due 1924,
4 Melrose Sewer Bonds, due 1912,
3 Chicago, Burlington & Quincy R. R. Bonds, due 1949,
Nos. 301-310. ..
DESCRIPTION.
Cash and Securities On Hand January 28, 1907.
Cost of Securities Acquired During Year.
Proceeds of Securities Sold or Transferred During Yr.
Securities Retired During Yr.
Loss on Securities Retired or Transferred During Yr.
Decrease in Cash Balanee.
Cash and Securities On Hand January 28, 1908.
Par Value.
Cost.
Par Value.
Cost.
Amounts brought forward
$144,500.00
$155,540.12
$2,000.00
$22.50
$142,500.00
$153,517.62
7 Melrose Water Bonds, due 1912,
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