USA > Massachusetts > Norfolk County > Quincy > Inaugural address of the mayor, with the annual report of the officers of the city of Quincy for the year 1942 > Part 3
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$9,049,436.45
Transfer
138,500.00
Cash on Hand
1,022,096.44
Total
$10,210,032.89
Cash on hand Jan. 1, 1942
$
766,035.39
Cash Receipts 1942 9,443,997.50
Cash Payments 1942.
9,187,936.45
Cash on hand Dec. 31, 1942
1,022,096.44
HAROLD P. NEWELL, Treasurer
Rock Island Fund
Fund-Quincy Savings Bank
$1,000.00
Unexpended income, January 1, 1942. $74.28
Interest receipts 1942 20.10
Balance on hand December 31, 1942. $94.38
C. C. Johnson - Turkey Fund
Fund-Quincy Savings Bank .... $2,000.00
Interest receipts 1942 $40.20
Credited to Welfare Department 40.20
Charles E. French Fund
Fund-Quincy Savings Bank
$3,000.00
Interest receipts 1942 $60.30
Credited to Burial Department. 60.30
George Pierce Fund-Perpetual Care Lot No. 252
Fund-Quincy Savings Bank
$200.00
Unexpended income January 1, 1942. $40.08
Interest receipts 1942 4.02
$44.10
Expended 7.00
Balance on hand December 31, 1942. $37.10
C. C. Johnson Fund-Perpetual Care Lot No. 945
Fund-Quincy Savings Bank
$150.00
Interest receipts 1942 $3.01
Credited to Burial Department 3.01
Mary Willson Tucker Fund-Perpetual Care Lot No. 679 Fund-Quincy Savings Bank ... $400.00
Unexpended income, January 1, 1942 $135.66
Interest receipts 1942. 8.04
Expended 1942
143.70
5.00
Balance on hand, December 31, 1942 $138.70
50
CITY OF QUINCY
William S. Williams Fund-Perpetual Care Lot No. 848
Fund-Quincy Savings Bank $400.00 Unexpended income, January 1, 1942. $150.85
Interest receipts 1942 8.04
158.89
Expended 1942
8.00
Balance on hand December 31, 1942. $150.89
Alfred A. Dell-Flower Fund-Lots No. 896-898
Fund-Quincy Savings Bank $200.00
Unexpended income January 1, 1942. $4.46
Interest receipts 1942 4.02
$8.48
Expended 1942
4.00
Balance on hand December 31, 1942.
$4.48
Minnie B. Bent-Flower Fund-Lot No. 744
Fund-Quincy Savings Bank
Unexpended income January 1, 1942. $7.28
Interest receipts 1942 5.00
$12.28
Expended 1942
4.00
Balance on hand December 31, 1942. $8.28
Abraham Rich-Flower Fund-Lot No. 548
Fund-Quincy Savings Bank
$176.00
Unexpended income January 1, 1942 $1.70
Interest receipts 1942 3.53
5.23
Expended 1942
2.00
Balance on hand, December 31, 1942. $3.23
Alexander Nugent-Perpetual Care Fund
Fund-Quincy Savings Bank $125.00
Interest receipts 1942. $2.51
Paid Trustees St. Mary's Cemetery 2.51
Hospital Trust Funds
Funds-Quincy Savings Bank $9,453.25 Also 24 shares Walker-Stetson Co. Common Stock (Capital) Class A-(Par value $50. each)
Unexpended income January 1, 1942.
$8,732.30
Interest receipts 1942 310.00
Balance on hand December 31, 1942.
$9,042.30
$250.00
51
REPORT OF TREASURER
Hospital Trust-D. L. Jewell Fund
Fund-Quincy Savings Bank
$5,000.00
Unexpended income January 1, 1942. $2,215.10
Interest receipts 1942
100.50
Balance on hand December 31, 1942.
$2,315.60
Hospital Trust Funds-Special
Quincy Savings Bank .. .$431.67 Quincy Savings Bank .. $440.32 Granite Trust Co.
Granite Trust Co.
Savings
121.27
Savings
122.47
$552.94
Interest receipts 1942
9.85
$562.79
$562.79
Hospital Trust-Mary Parker Fund
Fund-Quincy Savings Bank
$5,000.00
Unexpended income January 1, 1942. $365.05
Interest receipts 1942
100.50
Balance on hand December 31, 1942.
$465.55
Hospital Trust-Richard E. Raycroft Fund
Fund-Quincy Savings Bank
Fund, January 1, 1942. $1,444.55
Interest receipts 1942
28.53
$1,473.08
Expended 1942
153.00
Balance on hand December 31, 1942.
$1,320.08
Perpetual Care Fund
Cash on hand January 1, 1942
$1,588.10
RECEIPTS
Perpetual care of lots
$12,790.00
Interest receipts
9,441.75
Sale of bonds
18,250.00
40,481.75
$42,069.85
EXPENDITURES
Purchase of bonds $30,724.52
Accrued interest on bonds
251.37
Income credited to Burial Department 9,190.38
$40,166.27
Cash on hand December 31, 1942
1,903.58
$42,069.85
$1,320.08
52
CITY OF QUINCY
ANALYSIS OF FUND
Fund, January 1, 1942 $268,716.12
Perpetual care of lots 1942. 12,790.00
Net profit bonds sales
3.64
$281,509.76
BALANCE SHEET
Cash on hand
$ 1,903.58
Investments 279,606.18
Fund, December 31, 1942
$281,509.76
53
REPORT OF TREASURER
Investments
$ 3,000 Atchison, Topeka & Santa Fe 1st Mort. 4-1958 $ 3,200.00
10,000 Atchison, Topeka & Santa Fe Ry. 1st Ref. "A" 412 1962
10,875.00
5,000 Atlantic Coast Line R. R. 1st 4, 1952.
5,000.00
5,000 Baltimore & Ohio R. R. 1st 4, 1948.
4,637.50
2,000 Boston & Albany R. R. Ref. Deb. gtd. 5, 1963
2,000.00
6,000 Brooklyn Union Gas 1st & Ref. "B" 5, 1957. ...
6,285.00
2,000 Cambria & Clearfield R. R. GM 4, 1955. 2,050.00
5,000 Central Pacific Railway 4, 1949
3,562.50
10,000 Chicago, Burlington & Quincy R. R. Gen. 4, 1958
9,895.36
5,000 Chicago, Indiana & Southern R. R. 4, 1956.
4,817.92
1,000 Chicago & North Western Ry. 1st & Ref. 5, 2037
200.00
10,000 Great Northern Ry. GM "G" 4, 1946.
10,000.00
5,000 Great Northern Ry. Gen. "I" 334, 1967.
4,875.00
5,000 Illinois Central Railroad 1st GB 31/2, 1951
4,537.50
5,000 Jamestown, Franklin & Clearfield R. R. 1st 4, 1959
4,756.25
5,000 Kings County Lighting 1st Ref. 5, 1954.
5,000.00
1,000 Kings County Lighting Co. 1st Ref. 61/2, 1954
1,000.00
4,000 Louisville & Nashville R. R. 4, 1960.
4,000.00
5,000 Louisville & Nashville R. R .- Paducah & Mem- phis Div. 1st 4, 1946
4,963.49
5,000 Metropolitan Edison Co. 1st "G" 4 1965.
5,250.00
2,000 New Jersey Power & Light Co. 1st 41/2, 1960
2,075.00
10,000 New York Central & Hudson River R. R. GB 31/2, 1997
7,525.16
2,000 New York, Chicago & St. Louis R. R. Ref. "C" 41/2, 1978
1,885.00
5,000 Norfolk & Carolina R. R. 2nd GB 5, 1946 ........
5,000 .. 00
5,000 Northern Pacific Ry. Ref. & Imp. "A" 41/2, 2047
5,000.00
5,000 Oregon Short Lines 1st GB 5, 1946.
5,175.00
10,000 Oregon, Washington R. R. & Navigation Co. 1st & Ref. 4, 1961
10,675.00
5,000 Pere Marquette Railway 1st "A" 5, 1956
5,175.00
5,000 Pittsburgh, Cincinnati, Chicago & St. Louis R. R. 5 GM "A", 1970
5,330.00
5,000 Savannah Electric & Power Co. 1st Ref. "F" 5, 1955
5,210.00
6,000 Southern Pacific R. R. 1st Ref. 4, 1955
6,000.00
5,000 Southern Railway Co. 1st Cons. 5, 1994.
8,000 U. S. Treasury 11/8, 1943 5,000.00
8,000.00
2,800 U. S. Treasury 2, 1955
2,800.00
6,000 U. S. Treasury 21/2, 1968
6,000.00
3,800 U. S. Treasury 21/2, 1972
3,800.00
100 Shares-First National Bank of Boston.
4,775.00
200 Shares-National Shawmut Bank of Boston ....
5,237.50
10,000 Abington Savings Bank
10,000.00
10,000 Braintree Savings Bank 10,000.00
4,000 Brookline Savings Bank 4,000.00
54
CITY OF QUINCY
4,000 Cohasset Savings Bank 4,000.00
5,000 Dedham Institution for Savings 5,000.00
5,000 Granite Trust Company-Savings Dept. 5,000.00
15,000 Hingham Institution for Savings 15,000.00
16,038 Quincy Savings Bank
16,038.00
5,000 Randolph Savings Bank
5,000.00
7,000 South Weymouth Savings Bank 7,000.00
7,000 Weymouth Savings Bank
7,000.00
$279,606.18
55
REPORT OF TREASURER
REPORT OF THE TREASURER OF THE WOODWARD FUND AND PROPERTY
January 2, 1943
HON. CHARLES A. Ross, Mayor Quincy, Massachusetts
Dear Sir:
I submit herewith, the report of the Treasurer of the Woodward Fund and Property for the year ending December 31, 1942.
Respectfully, HAROLD P. NEWELL, Treasurer Woodward Fund and Property
STATEMENT
Cash on hand, January 1, 1942 $3,165.85
Receipts
Payments on mortgages
$11,215.00
Sale of securities
15,250.00
Sale of foreclosed property
9,700.00
$36,165.00
Interest and dividends-stocks and bonds. $3,591.56
Interest-Savings Banks
145.05
Interest on mortgages
6,705.66
Rents
7,515.25
Income from Institute
1,235.17
$19,192.69
Reserved Collections-
For taxes and water accounts
$1,582.02
$60,105.56
Expenditures
Purchase of bonds and stock $30,472.57
Accrued interest on bonds purchased
142.42
Mortgage loans
6,300.00
Expense on Fund owned Property ..
75.00
Administration
97.95
Expense on properties
Gilson Road
321.02
General repairs on Fund owned properties. .. 2,211.56
$39,620.52
56
CITY OF QUINCY
Expended by Board of Managers
On Institute-Repairs $306.46 332.53
Insurance
$638.99
Expenses of Institute
Pay Rolls
$11,832.94
Books, supplies and sundries
848.16
Fuel
1,392.15
Lighting
225.22
Telephone
62.83
Improvements, repairs and fixtures.
586.08
$14,947.38
Expense Reserved Collections.
1,582.02
Cash on hand, December 31, 1942.
3,316.65
$60,105.56
Unexpended Income Account
Balance, January 1, 1942
$1,260.86
Unexpended income, 1942
833.37
Balance, December 31, 1942
$2,094.23
Balance Sheet
Cash $ 3,316.65
General Fund $348,403.76
Investments
108,035.55
Unexpended Income ..
2,094.23
Mortgage Notes ...
118,635.00
Net profit bond sale 32.67
Institute
Land and
building
58,900.00
Property-
Gilson Road 2,868.64
Property foreclosed ..
58,774.82
$350,530.66
$350,530.66
57
REPORT OF TREASURER
Investments
$ 6,000 Atchison, Topeka & Santa Fe Ry .- (Cal. & Ariz.) Lines 41/2, 1962. $6,550.00
4,000 Baltimore & Ohio R. R .- Pitts. Lake Erie & W. Va. Ref. 4, 1951.
4,000.00
5,000 Cambria & Clearfield R. R. GM 4, 1955. 5,000.00
5,000 Empire District Electric Co. 1st & Ref. 5, 1952
5,000.00
5,000 Great Northern Railway Co. "H" GM Con- vert. 4, 1946.
4,938.28
5,000 Kings County Lighting Co. 1st Ref. 5, 1954.
5,000.00
10,000 New York Central & Hudson River R. R. GB 31/2, 1997
7,593.43
5,000 New York Central R. R. Cons. "A" 4, 1998.
4,837.50
5,000 Pere Marquette Railway 1st "B" 4, 1956.
4,967.50
5,000 Pittsburgh, Cincinnati & St. Louis R.R. 5, 1975
5,175.00
5,000 Southern Pacific Co .- Oregon Lines 1st "A" 41/2, 1977 4,887.50
5,000 Southern Railway Co .- St. Louis Div. 1st 4, 1951
4,700.52
10,000 U. S. Treasury 21/2, 1968
10,000.00
4,500 U. S. Treasury 21/2, 1972
4,500.00
36 Shares-American Tel. & Tel. Co.
2,644.85
8 Shares-Boston & Maine R. R. Prior Pref- erence
800.98
66 Shares-Boston & Maine R. R. 1st Pref. "A" 7,260.00
27 Shares-Boston & Albany R. R. 4,900.00
5 Shares-Merchants National Bank 1,375.00
135 Shares-Pennsylvania R. R. 7,904.99
5,000 Hingham Institution for Savings. 5,000.00
500 Quincy Savings Bank 500.00
500 Weymouth Savings Bank. 500.00
$108,035.55
58
CITY OF QUINCY
REPORT OF THE ADAMS TEMPLE AND SCHOOL FUND
January 2, 1943
HON. CHARLES A. Ross, Mayor Quincy, Massachusetts
Dear Sir:
The report of the Treasurer of the Adams Temple and School Fund for the year ending December 31, 1942, is submitted here- with.
Respectfully, HAROLD P. NEWELL, Treasurer Adams Temple and School Fund
Cash on hand, January 1, 1942
$1,787.23
Receipts
Notes secured by mortgages
$1,050.00
Sale of bonds
15,250.00
Sales of land
800.00
On foreclosed property
120.00
$17,220.00
Income
Mortgage Loans
$260.23
Stocks and bonds
6,342.97
Savings Bank deposits
1,034.89
Rents
2,255.00
$9,893.09
$28,900.32
Charles Francis Adams Fund
Income
$820.00
$29,720.32
Expenditures
Purchase of bonds $15,870.89
Accrued interest on bonds purchased
62.40
Legal expenses on sales of land
103.21
Administration of Fund
503.45
Bond-Treasurer's Department
10.00
Taxes on land in Braintree 3.16
Alterations Crypt First Parish Church
2,362.08
$18,915.19
59
REPORT OF TREASURER
Expenses on Property
Adams Academy-Insurance $153.09
Materials and repairs. 682.23
Care grounds and building
1,903.07
Foreclosed property repairs.
150.50
$2,888.89
Expenditures-School Department
Pay roll-Librarian-Quincy High School. $2,200.00
Bills covering supplies for School Libraries .... 3,259.30
$5,459.30
$27,263.38
Charles Francis Adams Fund-Income
Expended by School Department
$150.00
$27,413.38
Cash on hand, December 31, 1942 ....
2,306.94
$29,720.32
Unexpended Income Account
Balance, January 1, 1942
$13,681.11
Unexpended income for 1942
862.68
$14,543.79
Expended for alterations-
Crypt, First Parish Church
2,362.08
Balance on hand, December 31, 1942
$12,181.71
Unexpended Income-Charles Francis Adams Fund
Balance, January 1, 1942
$6,810.24
Unexpended income for 1942
670.00
Balance on hand, December 31, 1942
$7,480.24
Balance Sheet
Cash
$2,306.94
General Fund
$190,605.37
Investments
208,478.88
Unexpended Income 12,181.71
Mortgage Notes
4,025.00
C. F. Adams Fund ....
10,396.88
Property Foreclosed ..
5,853.38
Unexpended Income .. 7,480.24
$220,664.20
$220,664.20
Also various parcels-Real Estate, Assessed Valuation $126,875.00
60
CITY OF QUINCY
Investments
$ 5,000 Associated Electric Co. Deb. 41/2, 1953. $4,474.00
5,000 Atchison, Topeka & Santa Fe R. R. GM 4, 1995 5,400.00
5,000 Atchison, Topeka & S. Fe R. R. (Cal. & Ariz.) 1st Ref. 41/2, 1962 5,450.00
5,000 Atlantic Coast Line R. R. 1st 4, 1952.
5,000.00
5,000 Baltimore & Ohio R. R. Pittsbg, Lake Erie & W. Va. Ref. 4, 1951.
5,000.00
8,000 Boston & Albany R. R. Ref. Deb. gtd. 5, 1963 8,000.00
1,500 Boston & Maine R. R. 1st Mortg. Series R. R. 4, 1960
1,500.00
1,500 Boston & Maine R. R. Inc. Mortg. "A" 4, Cum. 1970
1,405.84
5,000 Brooklyn Union Gas Co. 1st Ref. GB 5, 1957 ....
5,200.00
5,000 California & Oregon Power 1st & Ref. 4, 1966
4,962.50
5,000 Carthage & Adirondack Ry. 1st gtd. 4, 1981
4,343.39
4,000 Central Pacific Railway Co. 1st Ref. 4, 1949 ......
2,850.00
5,000 Chicago Burlington & Quincy R. R. GM 4, 1958 6,000 Empire District Electric Co. 1st Ref. 5, 1952 ....
6,100.00
5,000 Great Northern Railway Gen. Mort. GB "L" 334, 1967
4,875.00
10,000 Great Northern Railway "G" Con. GM 4, 1946
9,856.55
5,000 Illinois Central R. R. St. Louis Div. & Term. 31/2, 1951
4,513.53
5,000 Illinois Central R. R. Louisville Div. 1st 31/2, 1953
4,575.00
5,000 Jamestown, Franklin & Clearfield 1st 4, 1959
4,781.94
6,000 Louisville & Nashville R. R. 1st 4, 1946 ..
6,150.00
4,000 Louisville & Nashville R. R. 1st 4, 1946
4,060.00
10,500 Northern Pacific Railway Ref. & Imp. "B" 6, 2047
10,132.50
5,000 Pennsylvania Railway Gen. Mortg. "A" 41/2, 1965
4,862.50
5,000 Pere Marquette Railway 1st "A" 5, 1956.
4,862.50
5,000 Savannah Electric Power 1st Ref. GB "F" 5, 1955
5,200.00
5,000 Southern Pacific R. R. 1st Ref. 4, 1955
4,837.50
5,000 Southern Railway Co. 1st Con. 5, 1994.
5,050.00
5,000 U. S. Treasury 11/8, 1943.
5,000.00
10,000 U. S. Treasury 21/2, 1963-68
10,000.00
2 Shares-Boston & Maine R. R. 1st Pref. "D".
520.00
37 Shares-Eastern Gas & Fuel Associates Prior Pref.
2,927.62
200 Shares-National Shawmut Bank of Boston ....
5,700.00
10,000 Braintree Savings Bank
10,000.00
5,000 Cohasset Savings Bank
5,000.00
14,000 Hingham Institution for Savings
14,000.00
8,500 Quincy Savings Bank.
8,500.00
3,500 South Weymouth Savings Bank. 3,500.00
5,000 Weymouth Savings Bank
5,000.00
$208,478.88
4,888.51
61
REPORT OF TREASURER
REPORT OF THE TREASURER OF THE CITY OF QUINCY, RETIREMENT SYSTEM
January 2, 1943
HON. CHARLES A. Ross, Mayor Quincy, Massachusetts
Dear Sir:
I present herewith, the report of the Treasurer of the City of Quincy, Retirement System for the year ending December 31, 1942.
Respectfully,
HAROLD P. NEWELL, City Treasurer
CITY OF QUINCY-RETIREMENT SYSTEM
Receipts
Cash on hand, January 1, 1942
$2,873.78
Deposited by Members 25,742.33
Appropriated by City 29,326.58
$57,942.69
Income from Bonds
10,078.34
Bonds sold and called
81,792.29
$149,813.32
Expenditures
Warrant payments $19,019.40
Securities purchased
127,360.23
Accrued interest on securities purchased 833.47
$147,213.10
Cash on hand, December 31, 1942
2,600.22
$149,813.32
Statement of Fund
Cash on hand
$2,600.22
Investments 283,313.54
Total Fund, December 31, 1942
$285,913.76
62
CITY OF QUINCY
Investments
$ 5,000 Atchison, Topeka & Santa Fe GM 4, 1995. $5,087.50
8,000 Atlantic Coast Line R. R. 1st 4, 1952 7,305.00
5,000 Baltimore & Ohio R. R. 1st 4, 1948 .. 5,056.64
10,000 Birmingham Electric Co. 1st Ref. GB 41/2, 1968 10,100.00
3,000 Boston & Albany R. R. 31/2, 1952
2,860.00
10,000 Central Pacific Railway 1st 4, 1949
8,279.21
10,000 Chicago, Burlington & Quincy GM 4, 1958
9,288.28
10,000 Dominion of Canada 4, 1960.
10,056.25
15,000 Dominion of Canada 21/2, 1945.
13,963.28
5,000 Illinois Central Railway Ref. 5, 1955
3,565.59
10,000 Kentucky Utilities Co. 1st 4, 1970.
10,310.42
5,000 King's County Lighting Co. 1st & Ref. 5, 1954
5,250.00
5,000 King's County Lighting 1st Ref. 61/2, 1954 5,250.00
10,000 Louisville & Nashville R. R. P. & M. 4, 1946
10,361.20
5,000 Louisville & Nashville R. R. 4, 1960.
5,025.00
5,000 New York Central R. R. Cons. "A" 4, 1998 .. ...
4,328.34
10,000 New York Central & Hudson River R. R. GB 31/2, 1997
7,482.81
5,000 Northern Pacific Railway Gen. Lines SF 3, 2047
3,750.79
10,000 Oregon, Washington R. R. & Navigation Co. 1st Ref. A 4, 1961
10,500.00
10,000 Philadelphia, Baltimore & Washington GM "D" 41/2, 1981
10,656.49
10,000 Shamokin, Sunbury & Lewiston R. R. 2nd Ex. 5, 1945
10,175.00
5,000 Southern Pacific Co., Oregon Lines 1st A 41/2, 1977 4,900.80
10,000 Southern Railway Co. St. Louis Div. 1st 4, 1951 5,500 Springfield Gas & Electric 1st "A" 5, 1957 10,000 Texas Pacific Railway 1st 5, 2000
8,343.59
5,599.00
8,000 St. Joseph Railway, Light Heat & Power Co. 1st 41/2, 1947
8,080.00
10,000 U. S. Treasury 11/8, 1943
10,042.19
19,000 U. S. Treasury 2, 1949-51
19,000.00
8,000 U. S. Treasury 214, 1952-55
8,000.00
25,000 U. S. Treasury 2, 1949-51 25,000.00
10,000 U. S. Treasury 21/2, 1963-68 10,000.00
5,000 West End Street Railway 5, 1944 5,107.50
$283,313.54
4,000 Oregon Short Lines 5, 1946
4,284.45
7,000 Morris & Essex R. R. 1st & Ref. 31/2, 2000.
6,246.22
10,057.99
63
REPORT OF TREASURER
REPORT OF THE QUINCY RETIREMENT BOARD
February 26, 1943
HONORABLE CHARLES A. Ross, Mayor City of Quincy, Massachusetts
The Quincy Retirement Board submits its eighth annual report, being for the year ending December 31, 1942, with appended tables setting forth the financial and statistical results.
During the year the second periodical investigation of the mortality, service, and compensation experience of the system was made in accordance with the terms of the act which created it. Although the mortality experience among active members, the disability retirement experience, and the salary experience were unfavorable in certain respects, nevertheless the experience with respect to withdrawal, service retirement, and mortality among beneficiaries was favorable so that in total the actual results were not greatly different from those anticipated. In consequence the basic rates are being continued for another year at the same levels that have prevailed since the beginning of the system in 1935.
The turnover in membership continues at a high level but the net increase during the year 1942 was approximately 10%, bring- ing the total active membership at the end of the year to 476, which is the highest point to date and the total of all members including those retired to 495. The greatest proportional gain was, as might be expected, among firemen and policemen in view of the fact that these departments as a whole were not reflected among the initial membership.
Respectfully submitted, GEORGE E. BONSALL, JOHN J. KEEFE, LEO E. MULLIN, Quincy Retirement Board
64
CITY OF QUINCY
TABLE I Statement of Cash Receipts and Payments for the Year Ending December 31, 1942
Receipts
Cash on hand January 1, 1942.
$2,873.78
Members' Contributions
25,742.33
Appropriations by City : Pension Fund $29,326.58
Expense Fund
2,556.34
$31,882.92
Bonds Sold or Called
81,792.29
Income from Investments:
Interest on Bonds
10,078.34
Total
$152,369.66
Payments
Refunds of Contributions:
On account of Resignations and Dismissals
$10,338.49
Pension Payments
8,680.91
Bonds Purchased
127,360.23
Accrued Interest on Bonds Purchased
833.47
Expenses :
Secretarial
$1,249.19
Extra Clerical
100.00
Actuarial
900.00
Printing
108.75
Postage and Supplies
69.90
Bonds
75.00
Miscellaneous
53.50
$2,556.34
Total
$149,769.44
Cash Balance as of December 31, 1942.
2,600.22
Total
$152,369.66
65
REPORT OF THE RETIREMENT SYSTEM
TABLE II
Income Account-1942
Cash Interest Received
$10,078.34
Interest accrued but not due December 31,
1942
3,217.83
$13,296.17
Less: Accrued Interest January 1, 1942. 2,745.02
Interest Paid on Bonds Purchased 833.47
Premiums on Bond Amortized out of Income
961.28
$4,539.77
Net Interest Earned $8,756.40
4% Credited on Average Funds:
Annuity Savings Fund
$4,872.73
Annuity Reserve Fund
166.33
Pension Accumulation Fund 6,047.06
$11,086.12
Deficiency to be made up by City
$2,329.72
TABLE III Balance Sheet as of December 31, 1942
Cash
$2,600.22
Annuity Savings
Investments
283,313.54
Fund $133,920.62
Accrued Interest
3,217.83
Annuity Reserve Fund
5,332.28
Pension Accumulation
Fund 148,134.49
Surplus 1,744.20
Total
$289,131.59
Total $289,131.59
66
CITY OF QUINCY
TABLE IV Schedule of Investments
Par Value
Book Value
$5,000 Atchison, Topeka & Santa Fe 4, 1995
$5,087.50
8,000 Atlantic Coast Line 1st 4, 1952 7,305.00
5,000 Baltimore & Ohio 1st 4, 1948
5,056.64
10,000 Birmingham Electric Co. 1st and Ref. 41/2, March, 1968 . 10,100.00
3,000 Boston and Albany 31/2, 1952
2,860.00
10,000 Central Pacific Railway 4s, 1949.
8,279.21
10,000 Chicago, Burlington & Quincy 4, 1958
9,288.28
15,000 Dominion of Canada 21/2, 1945
13,963.28
10,000 Dominion of Canada 4, 1960
10,056.25
5,000 Illinois Central Refunding 5, 1955 3,565.59
10,000 Kentucky Utility 4, 1970
10,310.42
5,000 Kings County Light, 1st and Ref. 5, 1954
5,250.00
5,000 Kings County Light 61/2, 1954
5,250.00
10,000 Louisville & Nashville R. R., Pad. & Memphis Div. 4, 1946
10,361.20
5,000 Louisville & Nashville Ext. & Unif. 4, 1960
5,025.00
7,000 Morris & Essex 1st 31/2, 2000
6,246.22
5,000 New York Central Consol 4, 1998
4,328.34
10,000 New York Central Railroad Co. 31/2, July 1, 1997
7,482.81
5,000 Northern Pacific Gen. 3, 2047
3,750.79
4,000 Oregon Short Lines 5, 1946
4,284.45
10,000 Oregon-Wash. R. R. & Navigation Co. 4, January, 1961
10,500.00
10,000 Philadelphia, Baltimore & Washington 41/2, 1981
10,656.49
10,000 Shamokin, Sunbury & Lewisburg R. R. 2nd & Ext. 5, 1945
10,175.00
5,000 Southern Pacific Oregon Lines 1st 41/2, 1977
4,900.80
10,000 Southern Railway, St. Louis Div. 1st 4, 1951
8,343.59
5,500 Springfield Gas & Electric Co. 1st 5, 1957 .... 8,000 St. Joseph Railway, Light, Heat & Power 51/2, December 1, 1947
8,080.00
10,000 Texas Pacific Railway 5, 2000
10,057.99
10,000 U. S. Treasury June 1-1/8%, 1943
10,042.19
19,000 U. S. Treasury 2, September 1951-49
19,000.00
25,000 U. S. Treasury 2, December 1951-49
25,000.00
8,000 U. S. Treasury 214, June 1952-55 8,000.00
10,000 U. S. Treasury 21/2, December 15, 1968-1963 10,000.00
5,000 West End St. Railway Deb. 5, 1944
5,107.50
$292,500
$283,313.54
5,599.00
67
REPORT OF THE RETIREMENT SYSTEM
TABLE V Membership Active Members
With Prior Service Credit
Without Prior Service Credit
General Employees
General Employees
Male
Female
Firemen, Police- men
Male
Female
Firemen, Police- men
Total
Membership Jan. 1, 1942 Enrolled during 1942
67
82
1
55
178
49
432
....
....
....
24
80
20
124
Withdrawals: Resignation Retirement
3
2
....
8
61
1
75
3
2
....
....
....
....
5
Membership Dec. 31, 1942
61
78
1
71
197
68
476
Retired Members
Membership Jan. 1, 1942 Retirement for : Superannua- tion Disability Ordinary Accidental Deaths
9
4
....
....
....
....
13
3
2
....
....
....
....
....
....
....
....
....
....
....
....
....
....
....
....
....
....
1
....
....
...
....
....
1
Membership Dec. 31, 1942
11
6
....
....
....
....
17
Dependent Beneficiaries of Deceased Members
Memberhip Dec. 31, 1942
....
....
....
....
2
....
2
Total
Membership Dec. 31, 1942
72
84
1
71
199
68
495
.
5
....
....
68
CITY OF QUINCY
TABLE VI
Valuation Balance Sheet Showing the Assets and Liabilities of the Funds of the Quincy Retirement System as of June 30, 1942
Assets
Annuity Savings Fund $124,306
Annuity Reserve Fund 3,903
Pension Reserve Fund ..........
Pension Accumulation Fund 152,640
Total Present Assets $280,849
Present value of the prospective contributions payable
by the City into the Pension Accumulation Fund 280,544
Total Assets $561,393
Liabilities
Present value of benefits on account of which contri- butions have been paid by members into the Annuity Savings Fund $124,306
Present value of benefits payable on account of benefi- ciaries or their dependents now drawing annuities from the Annuity Reserve Fund 3,892
Present value of benefits payable on account of benefi- ciaries or their dependents now drawing pensions from the Pension Reserve Fund .......... Present value of benefits payable on account of benefi- ciaries or their dependents now drawing pensions from the Pension Accumulation Fund. 60,517
Present value of benefits to members with prior service credit to be paid by contributions of the City into the Pension Accumulation Fund 227,813 Present value of benefits to new entrants to be paid by contributions of the City into the Pension Accumu- lation Fund 144,865
Total Liabilities $561,393
No account is taken of the future contributions of members into the Annuity Savings Fund because the benefits provided by these contributions are exactly equal to the accumulated amount of the contributions and therefore they do not affect the balance in the fund.
REPORT OF THE BOARD OF ASSESSORS
69
REPORT OF THE BOARD OF ASSESSORS
January 1, 1943
HON. CHARLES A. Ross, Mayor Quincy, Massachusetts
Dear Sir:
The following is respectfully submitted as the report of the Assessing Department for the year 1942.
Valuation
Value of Buildings
$84,140,550.00
Value of Land 34,202,150.00
Value of Land and Buildings
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