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 1949 > Part 4
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10 Three included in regular day schools.
227
Evening Academic School: principal, 1; teachers, men, 5; women, 8; total
7 6
67
SECTION VIII
RETIREMENT BOARD HOUSING AUTHORITY FIRST P R ELECTION
69
Retirement Board
The Quincy Retirement Board, which supervises the operation of the various pension systems under which municipal employes are retired on pensions, is composed of three unpaid members with a regular city employee serving as secretary.
Of the three members, one is the city auditor by virtue of his his office, one is elected by the city employes and one is appointed by the mayor. The board in 1940 included Chairman George H. Bon- sall, City Auditor Leo E. Mullin and Patrolman John F. Denneen, elected by employes; with Mrs. Helen M. Ottaviani as the permanent secretary.
The board administers the two retirement systems in operation for city employes.
THE FOUR PERCENT SYSTEM
The so-called four percent system, under which employes con- tribute that proportion of their earnings toward their ultimate pension- ing, was established in 1935. Its total membership increased during the year from 197 to 212; with the number of retired members de- creasing from 25 to 24. At the end of the year total assets were $155,113.69, of which there was $147,409.24 in investments, $1,495.45 in accrued interest and $6,209 in cash. During the year pension pay- ments came to $16,165.03.
THE FIVE PERCENT SYSTEM
The so-called five percent system was established in 1946. The active membership increased from 886 on Dec, 31, 1948 to 1,022 on Dec. 1, 1949. The balance sheet as of the last day of the year showed investments of $670,482.94; savings bank deposits of $35,000; cash of $8,098.90; accrued interest of $4,719.56; for a total of $718,301.40.
Payments made during the year included: deaths, $3,646.22; regu- lar pensions, $2,363.27; ordinary and accidental disability, $4,211.01.
Quincy Housing Authority
The year 1949 was an historic one for Quincy, for it marked the beginning of the city's greatest residential development, the so-called Snug Harbor Housing project.
Early in the year the Quincy Housing Authority purchased the old Snug Harbor Sailors' Home property in Germantown, let contracts and started the construction of 400 single family dwelling units to house veterans. Under state laws the Quincy Housing Authority was authorized to issue bonds, secured by state credit, to finance the development.
70
The architect plans, prepared by Edward J. Shields, called for the construction of 100 four-family apartment buildings.
Bids were opened on October 26. The total bids of the several lowest contractors, corrected by a reassignment of sub-contractors' bids, came to slightly more than three and a half million dollars. The estimate for the construction of roads and utilities brought the total construction costs up to approximately three and three-quarter million dollars. The cost of the land was $162,000.
Ground was broken on Nov. 15 with brief ceremonies in which Mayor Charles A. Ross, Chairman Frederick W. Roche of the State Housing Board and Chairman Louis A. George of the Quincy Housing Authority participated. Construction started shortly thereafter.
Under the agreement covering the construction and operation of this gigantic real estate development, the several million dollars worth of property is exempted from city taxation, but the Quincy Housing Authority is to pay the city a small percentage of the rentals in lieu of taxes. Estimates indicate that the rentals to the veterans will be about one half of rentals brought by similar dwelling units financed by private capital.
While the Quincy Housing Authority was starting the Snug Har- bor project during 1949, it was also busy operating the 36-family vet- erans' housing development known as Westacres and the 144 tem- porary units at Cleverly court and Pond street.
The Quincy Housing Authority is a non-paid board having juris- diction over all subsidized housing in the city. One member is named by the state and the other four by the mayor. Members are Chairman Louis A. George, Rev. Victor V. Sawyer, J. Gerard White and Laurence S. Foley. The executive secretary is Frank C. Hendry.
Quincy's First P R Election
Preparatory to the replacement of the old Plan A form of municipal government by the council-manager, or Plan E, form in 1950, Quincy held its first proportional representation-P R-election on Nov. 8, 1949. There were 59 candidates for the seven seats in the city council and 15 candidates for the six seats on the school committee.
Of 44,257 registered voters, 29,349 cast ballots for the council and 29,352, or 66 percent, for the school committee. It took a week to count the votes, with about 130 counters working at the task. The city hired Councilor Joseph A. DeGuglielmo of Cambridge, a recog- nized expert on P R voting, to assist Mrs. Hattiemay Thomas, city clerk, in supervising the counting.
Thomas S. Burgin, a former mayor, former councilor and former representative, topped the candidates for the council, getting 5,934
71
first choice ballots. He was the only council candidate to make the quota, 3,612, on first choice ballots. Other candidates were elected in the following order, Mrs. Edna B. Austin, Amelio Della Chiesa, Alfred G. Helfrich, Carl W. Anderson, Frank N. Orcutt and David J. Crowley. The election brought only one new face to the council, that of Mr. Helfrich.
Dominic J. Chiminello topped the list of school committee candi- dates with 4,966 first choice votes. He was the only school committee candidate to make the quota, 4,061, on the first count. Others elected were William A. Anderson, Dennis F. Ryan, A. Wendell Clark, Alex- ander Smith and Mrs. Annie B. Forsyth.
It required 48 counts to complete the redistribution of the ballots for the council candidates and 11 counts for the school board candi- dates
Under the council-manager form of government effective on Janu- ary 1, 1950, seven councilors-at-large are elected. They elect a mayor from among themselves, and he becomes by virtue of his office the chairman of the school committee.
The council, under Plan E, elects a city manager who becomes the administrative head of the municipal government.
73
SECTION IX FINANCIAL
AUDITOR TREASURER COLLECTOR ASSESSORS
RETIREMENT
75
City Treasurer
TREASURER'S STATEMENT RECEIPTS
Cash on Hand January 1, 1949
$1,082,822.04
General Revenue
Taxes 1949
5,627,735.33
Taxes Previous Years
295.795.34
Taxes - Motor Excise
350,507.71
Tax Title Held by City-Redeemed
21,688.35
Licenses
90,841.88
Permits
3,625.00
Court Fines
3,535.46
Grants and Gifts (Dog Licenses)
.
5,096.83
State of Massachusetts
1,557,593.2:
Special Assessments
Sewer Assessments
8,477.46
Sidewalks
95.70
Street Betterment
32,714.62
General Government
Tax Collector and Treasurer-Costs
4,014.51
City Clerk
9,936.90
Police Dept.
559.73
Fire Dept.
294.01
Sealer Weights and Measures
1,625.90
Building Inspector
11,981.50
Engineering
179.29
Wire Inspector
4,306.50
Gypsy Moth
377.50
Board of Health-Con. Diseases
1,253.50
Con. Dis. T. B.
1,074.00
Plumbing Inspector
4,074.00
Milk Licenses
218.00
Garbage Disposal
11,540.00 4,238.75
Welfare Dept.
101,075.29
Welfare-Old 'Age Assistance
392,738.62
O.A.A. Fed. Grant
450,307.92
Dependent Children Fed. Grant
51,286.80
Veterans Benefits
70,703.88
Hospital Dept.
894,291.67
School Dept.
10,444.31
Trade School Receipts
563.82
School Accts. Rec.
11,577.40
Smith Hughes and Deen Funds
4,299.46
Library Fines, etc.
5,338.20
Particular Sewer Receipts (Treas.)
27,025.31
Miscellaneous City
20,058.22
Departmental Refund Account
19,826.59
Sale of Tax Possessions
6,435.00
Income from Tax Possessed Property
516.00
Public Services
Water Rates 1949
386,221.34
Water Rates prior
6,419.02
Water Liens-Tax Collector
2.392.45
Water Service Connections
31,732.08
Cemetery
... 47,248.05
Scavenger
978.00
Highways
76
Interest
Tax Collector-Taxes and Assessments
12,706.51
City Treasurer-On Tax Titles
2,728.14
Perpetual Care Fund
11,649.57
Other Trust Accounts
25,198.87
Accrued Interest on Bonds
1,754.51
Premium on Bond Sale
6,466.00
Municipal Indebtedness
Temporary Loans 1949
2,500,000.00
Water Loans
General Loans
950,000.00
Agency, Trust & Deposits
City Clerk-Dog Licenses (County)
6,302.40
Hunters' Licenses (State)
4,187.75
Perpetual Care Fund
24,910.00
Other Trust Funds
20,581.77
Deposits-Scavenger
1,248.00
Particular Sewer
25 050.00
Water
6,525.00
Retirement System
122,604.51
Withholding Tax
458,441.05
Parking Meters
37,978.34
Westacres Surplus
1,415.59
Quincy Housing Authority
2,160.00
Rebuilding Washington St., Chapter 90
88.046.96
Q. H. A. in lieu taxes
7,084.89
Post War Rehabilitation
125,000.00
TOTAL
$16,120,327.20
Payments
Paid out on Mayor's Warrants 1949
14,665,483.86.
Cash on Hand
1,454,843.34
TOTAL .
16,120,327.20
Cash on Hand Jan. 1, 1949
1,082,822.04
Cash Receipts 1949
15,037,505.16
Cash Payments 1949
14,665,483.86
Cash on Hand Dec. 31, 1949
1,454,843.34
MILDED L. TYLER, Treasurer
ROCK LSLAND FUND
FUND-Quincy Savings Bank ..
$1,000.00
Unexpended Income January 1, 1949
$184.07
Interest receipts 1949 20.10
204.17
Expended by School Dept.
61.00
Balance on hand December 31, 1949
$143.17
C. C. JOHNSON TURKEY FUND
FUND-Quincy Savings Bank
$2,000.00
Interest receipts-1949 $40.20
40.20
CHARLES E. FRENCH FUND
FUND-Quincy Savings Bank
$3,000.00
Interest receipts 1949 $60.30
Credited to Burial Department
60.30
Credited to Welfare Department
605.00
Tax Possessed Property
77
GEORGE PIERCE FUND-PERPETUAL CARE FUND LOT #252 FUND-Quincy Savings Bank
$200.00
Unexpended Income January 1, 1949
$28.71
Interest receipts 1949
4.02
32.73
Expended 1949
4.00
Balance on hand, December 31, 1949 28.73
C. C. JOHNSON FUND-PERPETUAL CARE FUND LOT 945
FUND-Quincy Savings Bank
$150.00
Interest receipts 1949
$3.01
Credited to Burial Department
3.01
MARY WILLSON TUCKER FUND-PERPETUAL CARE LOT 679
FUND-Quincy Savings Bank
$400.00
Unexpended income, January 1, 1949
$150.91
Interest receipts 1949
8.04
158.95
Expended 1949
8.00
Balance on hand, December 31, 1949
150.95
WILLIAM S. WILLIAMS PERPETUAL CARE LOT 848
Fund-Quincy Savings Bank
$400.00
Unexpended income, January 1, 1949
$153.10
Interest receipts 1949 .
8.04
161.14
Expended 1949
8.00
Balance on hand December 31, 1949 $153.14
ALFRED A. DELL- FLOWER FUND LOT 896-898
FUND-Quincy Savings Bank
$200.00
Unexpended income, January 1, 1949
$9.09
Interest receipts 1949 4.02
13.11
Expended 1949
4.00
Balance on hand, December 31, 1949 $9.11
MINNIE B. BENT-FLOWER FUND LOT 744
FUND-Quincy Savings Bank
Unexpended income, January 1, 1949
15.46
Interest receipts, 1949
5.02
20.48
Expended 1949
5.00
Balance on hand, December 31, 1949
$15.48
ABRAHAM RICH-FLOWER FUND LOT 548
FUND-Quincy Savings Bank . .
Unexpended Income, January 1, 1949
$9.09
Interest receipts 1949 3.53
$250.00
$176.00
78
12.62 3.00
Expended 1949
Balance on hand, December 31, 1949 $9.62
ELLA E. BADGER FUND-PERPETUAL CARE LOT 173B
FUND-Quincy Savings Bank
$700.00 Interest receipts 1949 $14.07
Expended 1949 5.00
Balance on hand, December 31, 1949 $9.07
MABEL S. BAXTER-FLOWER FUND LOT 16
FUND-Quincy Savings Bank $500.00
Interest receipts 1949 $4.17
Expended 1949. 4.00
Balance on hand, December 31, 1949 $ .17
WILLIAM HENRY SAMPSON-FLOWER FUND LOTS 997 & 999 FUND-Quincy Savings Bank September 21, 1949 $200.00
ALEXANDER NUGENT-PERPETUAL CARE FUND
FUND-Quincy Savings Bank
$125.00
Interest receipts 1949 $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, 1949. $11,370.76
Interest receipts 1949 370.00
Balance on hand, December 31, 1949 $11,740.76
HOSPITAL TRUST-D. L. JEWELL FUND
FUND-Quincy Savings Bank
$5,000.00
Unexpended income, January 1, 1949 $2,880.76
Interest receipts 1949 100.50
Balance on hand, December 31, 1949 $2,981.26
HOSPITAL TRUST FUND-SPECIAL
FUND-Quincy Savings Bank (Children's Ward) $319.35
Balance on hand, December 31, 1949 . $319.35
HOSPITAL TRUST-MARY PARKER FUND
FUND-Quincy Savings Bank
$5,000.00
Unexpended income, January 1, 1949 $1,030.71
Interest receipts 1949 100.50
Balance on hand, December 31, 1949 $1,131.21
HOSPITAL TRUST-RICHARD E. RAYCROFT FUND
FUND-Quincy Savings Bank
$891.74
Fund January 1, 1949 $968.47
Expended 1949 76.73
Balance on hand, December 31, 1949 $891.74
79
HOSPITAL FUND-ISABELLA MOIR FUND
FUND
$52.35
Fund January 1, 1949
$57.75
Expended 1949
5.40
Balance on hand, December 31, 1949
$52.35
HOSPITAL TRUST-CANCER FUND
FUND
$112.13
Fund January 1, 1949
$67.13
From American Cancer Society
250.00
Expended 1949
205.00
Balance on hand, December 31, 1949. $112.13
HOSPITAL TRUST-RESEARCH FUND A.M.A.
FUND
$136.75
Fund January 1, 1949
$349.15
Expended 1949
212.40
Balance on hand, December 31, 1949 $136.75
HOSPITAL TRUST-RESEARCH PROJECT 1425
FUND
$3,945.04
Fund January 1, 1949
$3,285.15
Interest receipts
31.64
From U. S. Government
4,987.47
$8,304.26
Expended 1949
4,359.22
Balance on hand, December 31, 1949
$3,945.04
PERPETUAL CARE FUND
$1,224.67
Perpetual care of lots
$24,910.00
Interest receipts
11,649.57
$36,559.57
$37,784.24
EXPENDITURES
Purchase of securities
$20,369.85
Accrued interest on purchases
69.41
Income credited to Burial Dept.
11,580.16
$32,019.42
Cash on hand, December 31, 1949
5,764.82
$37,784.24
ANALYSIS OF FUND
Fund January 1, 1949
$380,465.95
Perpetual Care of Lots 1949
.
24,910.00
$405,375.95
Cash on hand, January 1, 1949 RECEIPTS
$317.13
80
BALANCE SHEET
Cash on hand, December 31, 1949
$ 5,764.82 399,611.13
$405,375.95
INVESTMENTS
$2,000. 'American Telephone & Telegraph Co. 338% 1973
$2,000.00
6,000 American Telephone & Telegraph Co. 23/4 1982
6,000.00
9,000 Arkansas Power & Light Co. 1st 31/8 1974
9,000.00
5,000 Atlantic Coast Line R. R. 1st 4 1952
5,000.00
5,000 Baltimore & Ohio R. R. 1st 4 1975
4,637.50
2,000 Bangor & Aroostook R. R. 4 1951
1,910.00
2,000 Boston & Albany R. R. Ref Deb gtd. 5 1963
2,000.00
2,000 Cambria & Clearfield R. R. GM. 4 1955
2,000.00
5,000 Central New York Power Corp. Gen 3 1974
5,000.00
5,000 Chicago, Indiana & Southern R. R. 4 1956.
4,817.92
10,000 Chicago, Burlington & Quincy R. R. Gen. 4 1958
9,895.36
5,000 Consolidated Edison Co. 3 1972 P ..
5,000.00
10,000
Consumers Power Co. 27/8 1975
10,000.00
10,000
Great Northern Ry. 512 1952
10,000.00
1,000
Great Northern Ry. 41/2 D 1976
1,000.00
5,000 Illinois Central Railroad, 1st GB 31/2 1941
4,537.50
5,000 Jamestown Franklin & Clearfield R. R. 1st 4 1959
4,756.25
5,000 Louisville & Nashville R. R. 1st G 27/8 2003
4,925.00
10.000 Montana Power Co. 27/8 1975
10,250.00
5,000 Mountain State Tel. & Tel. Co. 31/8 1978
5,000.00
3,000 Narragansett Electric Co. 3 1974 ..
3,000.00
5,000 New England Tel. & Tel. Co. 3 1982
5.069.85
10,000
New Jersey Bell Telephone Co. 31/8 1988
10,000.00
10,000
Northern Indiana Public Service 31/8 1973
10,000.00
5,000
Northern Pacific R. R. Pr. Ln. 4 1997
5,000.00
5,000
Northern Pacific Ry. Ref. & Imp. A 41/2 2047
5,000.00
5.000
Northwestern Bell Tel. Co. 31/4 1979
5,000.00
5,000
Pacific Gas & Electric 3 1979 .
5,000.00
5,000 Pacific Tel. & &Tel. Co. 27/8 1986
4,937.50
5,00€ Philadelphia Electric Co. 234 1981
5,000.00
5,000
Pittsburg, Cincinnati, Chic. & St. Louis R. R. GM A 5 1970 Reading Company 31/8 D 1995
13,000.00
11,000
Seattle Gas Company 3% 1976
10,830.00
5,000
Southern Pacific R. R. 214 1961
4,781.25
5,000
Southern Pacific R. R. 278 1986
4,825.00
5,000
Southern Railway Co. 1st Cons. 5 1994
5,000.00
4,000
U. S. Treasury 2 1951/53
4,000.00
15,000
U. S. Treasury 2 1954/52
15,000.00
18,000
U. S. Treasury 2 1954/52
18,000.00
5,000
U. S. Treasury 212 1955 G
5,000.00
5,000
U. S. Treasury 21/2 1955 G
5,000.00
2,800
U. S. Treasury 2 1955
2,800.00
2,000
U. S. Treasury 21/2 1956 G
2,000.00
14,000
U. S. Treasury 21/4 1962
14,000.00
10,000
U. S. Treasury 21/2 1970/65
10,000.00
3,800 U. S. Treasury 21/2 1972
3,800.00
10,000
U. S. Treasury 21/2 1972/67
10,000.00
200
Shares-First National Bank, Boston
9,825.00
25 Shares-Granite Trust Company
8,825.00
200 Shares-National Shawmut Bank
5,000.00
200 Shares-Quincy Trust Company
4,150.00
10,000
Abington Savings Bank
10,000.00
5,000
Braintree Savings Bank
5,000.00
5,000.00
13,000
Investments
81
4,000 Brookline Savings Bank
4,000.00
4,000 Cohasset Savings Bank
4,000.00
5,000 Dedham Institution for Savings 5,000.00
5,000 East Weymouth Savings Bank
5,000.00
5,000 Hingham Institution for Savings
5,000.00
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
$399,611.13
WOODWARD FUND AND PROPERTY
Cash 'on hand, January 1, 1949
$ 3,345.88
RECEIPTS
Payments on mortgages
$ 15.560.00
Sale of securities
15,235.19
Savings Bank
1,000.00
31,795.19
Interest and dividends-stock and bonds
6,042.52
Interest on mortgages
5,022.86
Income from Institute
12,096.40
Refund Survey expense
90.89
23,252.67
Withholding tax
1,956.60
Reserved collections
For taxes and water accounts
2,423.50
$ 62,773.84
EXPENDITURES
Notes secured by mortgages
$ 11,100.00
Purchase of securities
17.390.00
Deposits, Savings Bank
2,000.0,0
Accrued interest on bonds purchased
.55
Administration
69.85
Gilson Road Property
71.47
Survey of Institute
1,000.00
Board of Managers
On Institute-Repairs
218.64
Insurances
592.88
By Institute-Payrolls
20,391.86
Books, Supplies & Sundries
1,689.39
Fuel
3,375.88
Lighting
418.46
Telephone
115.09
Improvements, repairs & fixtures
695.47
25,686.15
Withholding Tax
1,956.60
Reserved collections
2,423.50
Cash on hand, December 31, 1949
264.20
$ 62,773.84
INCOME ACCOUNT
Total expenditures
27,639.54
Total income
23,252.67
Deficit charged to Income Fund $ 4,386.87
31,631.87
811.52
$ 62,509.64
82
BALANCE SHEET
GENERAL FUND INCOME FUND
.$ 96,413.44
Deficit Income
4 386.87
$ 92,026.57
Profit sale securities
3.22
92,029.79
Cash
264.20
Investments
176,047.64
Mortgage loans
89,150.00
Institute Land & Building
77,000.00
Property-Gilson Road
3,000.00
80,000.00
$ 345,461.84
INVESTMENTS
3,000. American Telephone & Telegraph Co. 3 3/8 1973
$ 3,0,00.00
7,000. 'American Telephone & Telegraph Co. 2 3/4 1982
7,000.00
10,000. Arkansas Power & Light Co. 3 1/8 1974
10,000.00
4,000. Baltimore & Ohio R. R. Pittsburgh, Lake Erie & W. Va.
4,000.00
2,000. Bangor & Aroostook R.R. 4 1951
1,905.00
5 000. Cambria & Clearfield R.R. GM 4 1955
5,000.00
5,000. Consolidated Edison of N. Y. 2 3/4 1982
5,000.00
5,00,0. New York Central R.R. Cons. A 4 1998
4,237.50
10,000. North Indiana Public Service Co. 1st C 31/2 1973
10.000.00
5,000. Pittsburgh, Cincinnati & St. Louis R. R. 5 1975
5,000.00
10,000.
Reading Company 3 1/8 1995
9 112.50
5,000.
Southern Pacific Co. Oregon Lines 1st A 41/2 1977
4,887.50
10,00,0.
Southern Pacific Co. R.R. 2 7/8 1986
9,300.00
10,000.
Southern Pacific R.R. 23/4 1996
9,650.00
5.CO.0.
U.S. Treasury 21/2 G Sept. 1961
5,000,00
8,000.
U.S. Treasury 21/2 1869;64
8,065.00
1,000.
U.S. Treasury 21/2 1972
1 000.00
1,000. Quincy Savings Bank
1,000.00
36 Shares-American Telephone & Telegraph
2,644.85
8 Shares-Boston & Maine R.R. Prior Pre erence
800.00
66 Shares-Boston & Maine R.R. 1st Pref. A.
5,260.00
27 Shares-Boston & Albany R.R.
4,900.00
300 Shares-First National Bank of Boston
16.356.25
25 Shares-Merchants National Bank of Boston
7,955.00
135 Shares-Pennsylvania R.R.
7,904.99
300 Shares-National Shawmut Bank of Boston
8,412.50
175 Shares-Waltham-Newton Bank & Trust Company
10,822.50
62 Shares-Second National Bank of Boston 7,834.05
$176 047.64
ADAMS TEMPLE AND SCHOOL FUND
Cash on hand, January 1, 1949
$ 3.311.75
RECEIPTS
Notes secured by mortgage
S 650.00
Sales of securities
5,085.00
Land Sales
925.00
6.660.00
$
253,432.05
$ 345,461.84
4, 1980
83
INCOME
Mortgage Loans
$ 1,960.03
Stocks and bonds
6.194.85
Savings bank deposits
406.04
Rents
2,123.94
Withholding Tax
10,684.86 247.20
$ 20,9,03.81
EXPENDITURES
Notes secured by mortgage
$ 700.00
Purchase of securities
5,200.00
Accrued interest on bonds
36.09
Administration of Fund
592.99
Withholding Tax
247.20
Expenses on Property
Adams Academy-Insurance
82.72
Materials and repairs
1,721.30
Care grounds and building
2,978.80
4,783.42
Expense by School Dept.
Covering supplies for school libraries
4,172.06
Cash on hand December 31, 1949 . ... .
5,172.05
$20,903.81
UNEXPENDED INCOME ACCOUNT
Balance-January 1, 1949
$ 1,876.35
Unexpended Income
1,100.30
On hand, December 31, 1949
$ 2,576.65
BALANCE SHEET
Cash $ 5,172.05
General Fund $ 244,209.98
Mortgages
42,100.00
Unexpended Income
2,976.65
$ 247,186.63
$ 247,186.63 $ 95,075.00
Also parcels of Real Estate-Assessed valuation
INVESTMENTS
5,000 American Tel & Tel 3 3/8 1973 $ 5,115.50
6,000 Arkansas Power & Light Co. 3 1/8 1974 .
6,000.00
5,000 Atchison, Topeka & Santa Fe R.R. GM 4, 1995 . 5,600.00
5,000 Atlantic Coast Line R.R. Lst 4 1952 5,000.00
5,000 Baltimore & Ohio R. R. Pitts. L. Erie & W. Va. re 4, 1952
5,000.00
8,000 Boston & Albany R. R. Ref. Deb gtd 5 1963 8,00,0.00
1,500 Boston & Maine R. R. Lst Mtg Series R. R. 4 1960
1.500.00
1,500 Boston & Maine R. R. Inc. Mtg. A. 41/2 cum., 1970
1,405.84
5,000 Carthage & Adirondack Ry. gtd. 4 1st 1981 4,343.39
5,000 Chicago, Burlington & Quincy R. R. GM 4 1958
4,888.51
4,000 Great Northern Railway 51/2 1952
4 000.00
$
6,529.08
$ 15,731.76
Investments
199 914.59
84
1,000 Great Northern Railway GM D 41/2 1976 .
1,500.00
5,000 Illinois Central R. R. St. Louis Div. & Term 312 1951 1,513.53
5.000 Illinois Central R. R. Louisville Div 1st 31/2 1953 1,575.00
5,000 Jamestown, Franklin & Clearfield 1st 4 1959
4,781.94
5,000 Louisville & Nashville R. R. 3 3/4 2003
4,900.00
4,000 Narragansett Electric Co. 3 1974
4,000.09
10,000 New York Telephone Co. 2 3/4 D 1982
10,256.25
5,000
Pennsylvania Railway Gen. Mtg. A 41/2 1965
4,862.50
3,500
U. S. Treasury 2 1951/53
3 500.00
15,000
U. S. Treasury 2 1954/52
15,000.00
7,000
U. S. Treasury 2 1954/52
7 000.00
3,000
U. S. Treasury 2 1/2 1955 G U. S. Treasury 2 1/2 1962/59
5,000.00
10,000
U. S. Treasury 2 1/2 1963/68
10,000.00
10,000
U. S. Treasury 2 1/2 1970/65
10.000.00
5,000
Reading Company 3 1/2 1995
5,000.00
5,000
Seattle Gas Company 3 58 1976
5,000.00
8,000
Wisconsin Electric Power Co. 2 58 1976
8,000.00
2
Shares-Boston & Maine R. R. 1st Pref D
520.00
37 Shares-Eastern Gas & Fuel Associates-Prior Pref
2,927.62
200 Shares-First National Bank of Boston
10,875.00
5 Shares-Granite Trust Company-Quincy
1,750.50
200 Shares-National Shawmut Bank of Boston
5,700.00
5,000 Braintree Savings Bank
5 000.00
4,000 Hingham Institute for Savings
1,000.00
3.500 South Weymouth Savings Bank
3,500.00
5,00,0 Weymouth Savings Bank
5,000.00
$ 199,914.58
CHARLES FRANCIS ADAMS FUND
Cash on hand January 1, 1949
S 292.47
Receipts
. . 731.25
$ 1,023.72
Expenditures
Administration of Fund .. 5.40
435.00
Cash on hand, December 31, 1949
583.32
Fund
$ 11,640.74
Unexpended Income
10,917.58
$
22,558.32
STATEMENT OF FUND
Investments
$ 21.975.00
Cash on hand
583.32
$
22,558.32
$5,000 Arkansas Power & Light Co. 31/8 1974
$
5,210.00
5,000 Consolidated Edison Co. N. Y. 234 1982
5,142.50
2,000 New Jersey Bell Tel. Co. 31/8 1988 .
2,047.50
5,000 Southern Railway 1st Cons. 5 1994
5,000.00
1,000 U. S. Treasury 21/2 G 1956
1,000.00
25 Shares-Second National Bank-Boston
3,575.00
$ 21,975.00
Income on securities
By the School Department
440.40
$ 1,023.72
3.000. 0
5,000
85
CITY OF QUINCY-RETIREMENT SYSTEM RECEIPTS
Cash on hand, January 1, 1949
S 12,654.97
Deposited by Members
122,604.51
Appropriated by City
5,975.00
Income from Investments
Bonds called and sold
. .
$141,234.43 24.450.84 103,352.07
$269,037.39
EXPENDITURES
Warrant payments (pensions and withdrawals) $ 44,470.95
Securities purchased
208,438.57
Accrued interest on securities purchased 1,819.97
Cash on hand, December 31, 1949
$254,729.49 14,307.90
$269,037.30
STATEMENT OF FUND
Cash on hand
S 14,307.90
Investments 4% System
$147,409.24
51/2 System 705,482.94
852,892.18
TOTAL FUND
$ 867,200.08
INVESTMENTS
4% System
$10,000 American Telephone & Telegraph 23/4s, 1961 $ 10,830.37
10,000 Atlantic Coast Line R. R. 1st 4s, 1952
9,107.50
15,000 Baltimore & Ohio R. R. 1st 4, 1975 13,519.88
8,000 Boston & Albany R. R. 1/23s, 1952
6,810.00
10,000 Boston & 'Albany R. R. 5s, 1963
10,392.18
10,000 Boston & Maine R. R. 4s, 1960
10,043.55
5,000 Chesapeake & Ohio Ry 31/2, 1996
5,539.50
10,000 Louisville & Nashville R. R. 33/4s, 2003
10,000.00
10,0,00 Morris & Essex R. R. 1st & Ref 31/2s, 2000 .
7,946.44
10,000 Northern Pacific Ry pr Lien Ry Land Grant 4s, 1997. .
9,365.87
5,000 Southern Pacific Co .- Oregon Lines 1st A 41/2s, 1977
4,900.80
10,000 Southern Railway Co. 1st Cons Mtg 5s, 1995
9,744.53
10,000
Texas & Pacific Railway 1st 5s, 20,00
10,057.99
10,000 U. S. Treasury 2s, 1954/52
10,174.37
10,000 U. S. Treasury G 1961
10,000.00
$ 147,409.24
5% System
$10,000 American Telephone & Telegraph Co. 23/4s, 1961 8 10,521.72
8,000 American Telephone & Telegraph Co. 23/4s, 1980
8,010.00
7,000 Atchison, Topeka & Santa Fe GM 4s 1995 7,584.55
15,000 Chesapeake & Ohio R. R. 31/2s, 1996
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