USA > Massachusetts > Middlesex County > Lincoln > Town Report on Lincoln 1956-1959 > Part 42
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Aggregate Value of Personal Estate
Aggregate Value of Real Estate
Tax on Real and Personal Estate
Scott, Robert W.
$
$ 21,400
$1,605.00
Secora, Julia
2,500
187.50
Seeckts, E. William
7,500
562.50
Seeckts, Marion E. & Ehlert W.
4,000
300.00
Segadelli, Doris C. & John J.
6,500
487.50
Sexton, Maurice J.
4,100
307.50
Shambaugh, Benjamin & Joan D.
5,600
420.00
Shank, Maurice E. & Virginia L.
7,500
562.50
Shansky, David & Nettie
7,500
562.50
Shapiro, Ascher H. & Sylvia C.
600
45.00
Shaw, Alice DeS.
19,600
1,470.00
Shaw, Harold & Ethel C.
500
37.50
Shea, Cornelius Robert
4,500
337.50
Shea, William J. & Margaret T.
5,000
375.00
Shepard, Paul F.
4,650
348.75
Sherman, Daniel E.
9,800
735.00
Sherman, Daniel E., Jr. & Sadie J.
3,750
281.25
Sherwin, Edward V.
1,500
112.50
Shomphe, Patrick W. & Annie B.
6,000
450.00
Shrock, Robert R.
300
22.50
Shurling, Watson & Emily I.
1,300
97.50
Siler, William C. & Barbara Jean
4,200
315.00
Silva, Manuel, Jr.
1,750
131.25
Silva, Mary E.
18,250
1,368.75
Simonds, Anthony J.
100
5,300
405.00
Simonds, Lena J.
100
7.50
Sisson, John H. & Barbara B.
10,800
810.00
Skilton, Edna R. & McDermott, Pauline
5,000
375.00
Smith, Carl D. & Florence C.
5,500
412.50
Smith, C. DeWitt & Margaret L.
17,800
1,335.00
Smith, John E. & Patricia Ann
4,500
337.50
Smith, Sumner
800
55,225
4,201.88
Smith, William B. & Mae W.
5,500
412.50
Smith, William J. & Barbara J.
2,700
202.50
Smyth, Robert Ralston & Adella C.
5,500
412.50
Smulowicz, Bronislaw & Sawera
9,000
675.00
Snelling, Charles A.
4,100
307.50
Snelling, Dorothy R.
4,300
322.50
Snelling, Howard & Elizabeth J.
4,850
363.75
Snider, Joseph L. & Greta W.
750
56.25
Sorenson, Hans, Heirs of
4,050
303.75
Sorenson, J. Oscar
4,250
318.75
Southack, Theodore L., Jr. & Marion B.
5,700
427.50
Spaeth, Daniel A. & Margaret A.
5,600
420.00
Spence, Robert A. & Helen M.
6,000
450.00
Spencer, Henry W. & Marguerite G.
11,500
862.50
Spooner, Frederick C. & Sarah W.
3,800
285.00
Spooner, Kenneth O. & Vera H.
5,000
375.00
Spooner, Lily T.
4,100
307.50
Stebbins, Herbert A.,Jr. & Patricia R.
5,000
375.00
.
181
STATISTICAL INFORMATION
VALUATION LIST, JANUARY 1, 1958
Name of Taxpayer
Aggregate Value of Personal Estate
Aggregate Value of Real Estate
Tax on Real and Personal Estate
Stevens, Frank R. & Katherine L.
$
$ 5,050
$ 378.75
Stevens, Kimball C. & Eleanor G.
6,000
450.00
Stockellburg, Arthur A.
1,750
131.25
Stratford Realty Co., Inc.
8,000
600.00
Street, Earle B. & Janet H.
5,275
395.62
Striker, William W. & Marjorie B.
5,000
375.00
Stubbs, Gerald S. & Barbara D.
11,700
877.50
Sturgis, Alanson H., Jr. & Anne H.
5,900
442.50
Sturm, Henry A.
50
3.75
Sturm, Henry A., Jr. & Harriet W.
5,900
442.50
Sullivan, Francis J. & Gladys S.
3,500
262.50
Sullivan, Winifred P.
1,400
105.00
Swan, Edmund & Eleanor G.
7,900
592.50
Swanson, Alfred & Alma
6,350
476.25
Swanson, Arthur A. & Joan C.
7,000
525.00
Swanson, Arthur W. & Helen K.
7,100
532.50
Swanson Pontiac, Inc.
1,500
112.50
Swanson Realty Corp.
2,300
172.50
Swanson, John, Realty Corp.
12,500
937.50
Swartz, Eli & Jeanette W.
4,350
326.25
Sweeney, Joseph E. & Jeanne M.
5,250
393.75
Swift, Orlando B.
50
3.75
Swift, Orlando B. & Janice B.
8,750
656.25
Swift, William N. & Phyllis C.
8,600
645.00
Swinconeck, John J.
1,600
120.00
Taillacq, Elsie
4,000
300.00
Tarbell, George G., et al, Trustee
21,100
1,582.50
Tarbell, George G., Jr.
7,100
532.50
Tarky, William J., Jr.
1,000
75.00
Taylor, Edward S.
12,600
945.00
Taylor, Frederick B. & Lex H.
8,000
600.00
Taylor, W. Royce & Dorothy V.
6,630
497.25
Teabo, Prince C. & Elizabeth T.
1,900
142.50
Telling, Irving & Jane C.
5,500
412.50
Tennessee Gas Transmission Co.
49,350
3,701.25
Tetreault, Arthur H. & Claire F.
6,000
450.00
Tetreault, Arthur Hubert & Anne G.
5,000
375.00
Tew, John B.
15,400
1,155.00
Thiessen, Arthur E. & Laura
13,600
1,020.00
Thomas, Melvin H. & Phyllis I.
2,600
195.00
Thompson, Cameron S., Jr. & Nancy L.
5,200
390.00
Thompson, G. Brooks, Jr. & Arlene
8,230
617.25
Thompson, Lawrence E. & Dorothy A.
1,400
105.00
Thorpe, Margaret M.
7,000
525.00
Thorson, Robert H. & Kathryn F.
7,100
532.50
Tirrell, Horace P. & Ethelyn S.
5,500
412.50
Tobey, Aubrey C. & Cynthia W.
1,000
75.00
Todd, Mabel H.
16,700
1,252.50
Todd, David
100
7.50
182
VALUATION LIST
VALUATION LIST, JANUARY 1, 1958
Aggregate Value of
Personal Estate
Aggregate Value of Real Estate
Tax on Real and Personal Estate
Name of Taxpayer
Todd, Pauline E., Adm.
$
$ 27,900
$2,092.50
Toler, Louise C.
5,000
375.00
Tonseth, Didrick & Phebe
2,000
150.00
Torode, Herbert L. & Lorraine S.
3,450
258.75
Torrey, Volla W. & Geneva DeF.
10,000
750.00
Tracey, Joseph R.
1,500
112.50
Tracey, Joseph R. & Elizabeth M.
12,300
922.50
Tracey, Elizabeth C.
150
11.25
Tracy, John W. & Gertrude G.
3,100
232.50
Troisi, Ferdinand L. & Mary G.
1,900
142.50
Trueworthy, Thurston C. & Helen F.
500
37.50
Tucker, Gardner
4,500
337.50
Tunnell, Raymond W. & Suzanne D.
7,200
540.00
Turner, Charles F. & Winifred A.
4,400
330.00
Tyler, Ethel A., Admx.
2,700
202.50
Tyler, Watson, Heirs of
2,700
202.50
Umbrello, Carmel V. & Francesca
6,000
450.00
Umbrello, Francis & Virginia
5,650
423.75
Vance, Jane K.
18,800
1,410.00
Vandell, Robert F. & Margaret E.
7,500
562.50
Van Leer, Hans L.
900
67.50
Van Leer, Hans L. & Mary K.
11,000
825.00
Van Rennes, Albert B. & Mabel C.
1,000
75.00
Van Wart, Walter L. & Mary A.
2,100
157.50
Vedoe, Russell A. & Mary E.
6,500
487.50
Vercollone, Edmund S. & Julia
6,100
457.50
Vitale, Joseph A. & M. Frances
7,100
532.50
Wadsworth, Charles Y. & Virginia D.
19,700
1,477.50
Waible, Wendell J. & Florence E.
5,200
390.00
Walen, Roger S. & Constance M.
4,000
300.00
Wales, Andrew M. & Betty R.
11,500
862.50
Wales, Isabel G.
14,800
1,110.00
Wales, R. Langdon & Ruth W.
1,000
75.00
Wang, An & Lorraine C.
15,500
1,162.50
Ward, Henry DeC. & Janet Clarke
200
15.00
Ward, Walter B. & Sophie E.
5,000
375.00
Ward, Walter B., Jr. & Marie L.
4,750
356.25
Ware, H. Spanton & Vivian V.
6,500
487.50
Warner, Henrietta S.
13,200
990.00
Warner, John Burton & Barbara Kaign
10,500
787.50
Washburn, Mabel L. & Rachel W.
4,400
330.00
Washburn, Rachel W.
100
7.50
Webb, Rosella
5,500
412.50
Welch, Vernon F. & Leatrice June
5,000
375.00
Weld, Anne S. & Frederick C.
10,500
787.50
Wells, George & Katherine W.
8,300
622.50
Westcott, Charles W. C. & Mary
3,500
262.50
183
STATISTICAL INFORMATION
VALUATION LIST, JANUARY 1, 1958
Name of Taxpayer
Aggregate Value of Personal Estate
Aggregate Value of Real Estate
Tax on Real and Personal Estate
Westcott, Vernon C. & Mary Alice
$
$ 6,500
$ 487.50
Western Union Tel. & Tel.
2,100
157.50
Weston, Georgianna H.
4,500
337.50
Whalen, William B. & Mary E.
3,500
262.50
Wheeler, Elizabeth F., Ann H., Mary L., & Gale, Ruth A.
17,150
1,286.25
White, Katharine S. & John W.
13,200
990.00
White, Robert E. & Marion J.
4,800
360.00
Whitfield, Thomas J., III & Joan E.
6,250
468.75
Whitney, Harold A. & Consuelo V.
5,100
382.50
Wilbor, John S. & Anne F.
6,900
517.50
Wiley, G. Arnold & Helen
7,650
573.75
Wilfert, Fred J. & Eleanor M.
5,400
405.00
Wilfert, Walter A. & Eleanor A.
5,900
442.50
Wilfert, Walter A. & Eleanor A., Fred J. & Eleanor M.
600
45.00
Wilkie, Earl L. & Virginia A.
5,100
382.50
Willard, Henry L. & Helen S.
8,000
600.00
Willard, Leslie M. & Bernice L.
4,750
356.25
Williams, Edwin L., Jr. & Ruth D.
5,900
442.50
Williamson, Elizabeth R.
1,300
97.50
Wilson, Elizabeth
6,100
457.50
Wilson, Louise H.
9,100
682.50
Wilson, Melvin S. & Eleanor F.
5,250
393.75
Wilson, Montgomery S. & Mary Ann
6,500
487.50
Wilson, Robert D. & Kathryn M.
7,000
525.00
Wilson, William A. & Eleanor L.
9,200
690.00
Winchell, Gordon D. & Enid M.
5,000
375.00
Winchell, Guilbert
100
27,700
2,077.50
Winchell, Guilbert S.
50
3.75
Winchell, Guilbert S. & Amy Jane
3,200
240.00
Witham, Arthur R. & Margaret F.
3,400
255.00
Witherton, John R. & Emily A.
5,800
435.00
Wood, Frank H. & Jeanne R.
8,200
615.00
Wood, George A., Jr. & Nancy S.
5,000
375.00
Wood, James D. & Ruth E.
5,000
375.00
Wood, James & Lizzie
4,500
337.50
Wood, O. Chester & Hilve V.
4,950
371.25
Wood, Robert C. & Margaret B.
5,000
375.00
Woodington, W. Gordon & Mary L.
8,100
607.50
Woodland Trust
420
31.50
Woods, Henry A. & Barbara R.
6,500
487.50
Worsham, Jack L. & Charlotte A.
5,500
412.50
Worthington, Thomas K. & Elizabeth C.
6,000
450.00
Yagjian, Jacob & Inez
600
45.00
Young, David B. & Cora S.
3,150
236.25
Young, Edward L.
2,350
176.25
7.50
Winchell, Guilbert & Evelyn
184
VALUATION LIST
VALUATION LIST, JANUARY 1, 1958
Name of Taxpayer
Aggregate Value of Personal Estate
Aggregate Value of Real Estate
Tax on Real and Personal Estate
Zarella, Joseph S. & Lillian M.
$
$ 1,100
$ 82.50
Zdanowski, John J. & Mary A.
4,530
339.75
Ziegler, Elmer H. & Hilda M.
5,100
382.50
Zinck, Floyd A. & Elma W.
6,700
502.50
185
TRUST FUNDS
COMMISSIONERS OF TRUST FUNDS
William T. King, Chairman Clement C. Sawtell Richard F. Schroeder
During the past year, various trust funds had maturities of $18,500 U. S. Government Bonds. The return on these securities was two and one-half per cent as compared to the available yield of approximately four and one-quarter per cent on good quality corporate bonds. Following our policy of attempting to improve the income from our investments, without materially sacrificing quality, these funds were re-invested in corporate and Government agency securities, legal for trust fund investment. In some cases, savings deposits were withdrawn and invested in quality bonds offering a similar re- turn.
To try to predict the money market would be dangerous, but your commissioners feel that the funds entrusted to them are currently offering a very fair return, commensurate with all the principles of security.
186
TRUST FUNDS
JOHN H. PIERCE LEGACY
Cash Account
Cash balance at January 1, 1958
$ 1,509.58
Less auditor's correction of 1957 report, overstatement
of Dental Clinic fees
4.00
Corrected cash balance at January 1, 1958
$ 1,505.58
Income received in 1958:
$1,046.09
Savings bank and bond interest Less accrued interest paid on bonds purchased
50.35
Annuity u/w John H. Pierce
3,000.00
Rent of Pierce House, one-half 1958 amount
300.00
Well-Child Clinic fees
34.50
Dental Clinic fees
1,322.65
Salvation Army, for Dental Clinic
300.00
5,952.89
Refund of benefits paid
1,181.00
Withdrawn from savings banks
2,200.00
U. S. A. Series "G" bonds matured
8,500.00
Interest applied to amortize bond purchase premiums
10.35
$19,349.82
Payments made per order of Selectmen:
Hospital and nursing home care
ยท $4,533.35
Medicines
14.78
Doctors' bills
45.00
Well-Child Clinic
420.00
Dental Clinic
2,989.91
Repairs to Pierce house
83.72
Care of grounds
175.00
Printing and supplies
8.82
$8,270.58
Safe deposit box rent
3,00
Savings bank interest allowed to accumulate
131.40
Deposited in savings banks
2,500.00
Bonds purchased :
1,000 Amer. Tel. & Tel. 4 3/8% 1985
1,054.75
4,000 International Bank for Reconstruction and Development 4 1/4% 1979
4,095.00
1,000 Federal Land Banks 3 7/8% 1972
1,050.00
1,000 Southern California Edison 3% 1965
950.00
18,054.73
Cash balance at December 31, 1958
$ 1,295.09
Cash and Securities at December 31, 1958
Cash on deposit
$. 1,295.09
Middlesex Institution for Savings
1,594.39
Provident Institution for Savings
2,327.90
2,000 USA Series "F" due March 1, 1960, at cost
1,480.00
2,700 USA Series "F" due Dec. 1, 1960, at cost
1,998.00
3,500 USA Series "F" due July 1, 1962, at cost
2,590.00
2,500 USA Series "G" 2 1/2% due Nov. 1, 1959
2,500.00
4,000 American Tel. & Tel. 4 3/8% 1985
4,053.00
$ 995.74
187
TRUST FUNDS
2,000 Baltimore & Ohio RR Equip. Trust "CC" 3% Sept. 1961
$ 1,995.72
4,000 Federal Land Banks 3 7/8% 1972
4,032.94
2,000 Great Northern Rwy. Equip. Trust 2 7/8% 1960
1,990.62
4,000 International Bank for Reconstruction and Development 4 1/4% 1979
4,092.74
3,000 Niagara Mohawk Power 3 5/8% 1986
2,913.75
3,000 Pacific Tel. & Tel. 4 3/8% 1988
3,129.91
4,000 Southern California Edison 3% 1965 3,855.00
1,000 Virginia Electric & Power 4 1/8% 1986
1,036.15
$40,885.21
DONALD GORDON RECREATION FUND
Cash Account
Cash balance at January 1, 1958
$ 2.60
Interest income for 1958
194.46
Interest applied to amortize bond purchase premiums
1.30
$ 198.36
Part of cost of Waverly Post American Legion Band for
July 4, per order of Trust Fund Commissioners $150.00
10.76
160.76
Cash balance at December 31, 1958
$ 37.60
Cash and Securities at December 31, 1958
Cash on deposit
$ 37.60
Middlesex Institution for Savings
282.87
Boston Five Cents Savings Bank
57.34
1,000 American Tel. & Tel. 4 3/8% 1985
1,000.00
1,000 Baltimore & Ohio RR Equip. Trust "CC" 3% 1961
997.86
1,000 Southern Bell Tel. 4% 1983
1,000.00
1,000 Southern California Edison 3% 1965
1,000.00
1,000 Virginia Electric & Power 4 1/8% 1986
1,036.05
$ 5,411.72
Accumulated income
$ 216.97
Principal
5,194.75
$ 5,411.72
188
Savings bank interest allowed to accumulate
TRUST FUNDS
DeCORDOVA SCHOOL EQUIPMENT FUND
Cash Account
Cash balance at January 1, 1958
$ 7.41
Interest income received in 1958
$ 813.67
Less accrued interest paid on bonds purchased
74.16
739.51
Withdrawn from savings banks
1,037.00
U.S.A. Series "G" bond matured
10,000.00
Interest income applied to amortize bond purchase premiums
8.55
$11,792.47
Paid to Town of Lincoln, 1958 net income,
$ 736.51
Safe deposit box rent
3,00
Deposited in savings banks
1,938.28
Bonds purchased :
2,000 Southern Bell Tel. 4% 1983
2,061.25
3,000 International Bank for Reconstruction and Development 4 1/4% 1979
3,063.75
2,000 General Telephone of Cal. 4 1/8% 1988
2,022.50
2,000 Alabama Power 3 1/2% 1972
1,960.00
11,785.29
Cash balance at December 31, 1958
$ 7.18
Cash and Securities at December 31, 1958
Cash on deposit
$ 7.18
Cambridge Savings Bank
754.52
Middlesex Institution for Savings
2,185.76
1,000 U.S.A. "G" 2 1/2% Nov. 1, 1959
1,000.00
1,000 U. S. Treasury 2 1/2% Mar. 15, 1970-65
1,008.27
2,000 U. S. Treasury 2 3/4% April 1, 1980-75
2,022.65
3,000 Alabama Power 3 1/2% 1972
2,949.80
1,000 American Tel. & Tel. 2 3/4% 1975
948.30
1,000 Baltimore & Ohio RR Equip. Trust "CC" 3% 1961
997.86
2,000 General Telephone Calif. 4 1/8% 1988
2,022.12
1,000 Idaho Power 4 1/2% 1987
1,000.00
1,000 Northern Pacific RR Equip. Trust 2 3/4% 1966
989.95
1,000 Pacific Gas & Electric 5% 1989
1,007.38
3,000 Southern Bell Tel. 4% 1983
3,059.34
1,000 Southern California Edison 3% 1965
1,000.00
1,000 Western Maryland RR 4% 1969
1,018.11
3,000 International Bank for Reconstruction 4 1/4% 1979
3,062.23
$25,033.47
189
TRUST FUNDS
ABBIE J. STEARNS FUND FOR THE SILENT POOR
Cash Account
Cash balance at January 1, 1958
$ 29.29
Interest income of 1958
112.26
$ 141.55
Relief payment, per order of Selectmen
$ 25.00
Safe deposit box rent
3.00
Savings bank interest allowed to accumulate
72.26
100.26
Cash balance at December 31, 1958
$ 41.29
Cash and Securities at December 31, 1958
Cash on deposit
$ 41.29
Boston Five Cents Savings Bank
1,343.40
Middlesex Institution for Savings
935.53
1,000 Southern Bell Telephone 4% 1983
1,000.00
$3,320.22
Accumulated income
$2,095.17
Principal
1,225.05
$3,320.22
GRAMMAR SCHOOL FUND
Cash Account
1958 savings bank interest paid to Town of Lincoln
$ 39.72
Savings Bank Deposits at December 31, 1958
Middlesex Institution for Savings
$ 722.00
Cambridge Savings Bank
495.52
$1,217.52
190
TRUST FUNDS
BEMIS LECTURE FUND
Cash Account
Cash balance at January 1, 1958
$ 819.35
Interest income received in 1958
$1,185.68
1,182.75
Less accrued interest on bonds purchased Withdrawn from savings banks
1,994.42
Interest income applied to amortize bond purchase premiums
11.88
$4,008.40
Payments made per order of Fund trustees: April 11, 1958 - Emily Kimbrough Janitor service at lecture
$ 500.00
5.00
Safe deposit box rent
3.00
Savings bank interest allowed to accumulate
15.17
Bonds purchased :
1,000 Alabama Power 3 7/8% 1988
1,004.42
1,000 International Bank for Reconstruction 4 1/2% 1973
1,000.00
2,527.59
Cash balance at December 31, 1958
$1,480.81
Cash and Securities at December 31, 1958
Cash on deposit
$1,480.81 25.42
Provident Institution for Savings
878.72
1,000 U.S.A. "G" 2 1/2% Nov. 1, 1959
1,000.00
1,000 Alabama Power 3 7/8% 1988
1,000.00
3,000 American Tel. & Tel. 4 3/8% 1985
3,034.47
3,000 Atchison Topeka & Santa Fe Gen'1 4% 1995
3,000.00
3,000 Federal Land Banks 3 7/8% 1972
2,984.25
2,000 Idaho Power 4 1/2% 1987 1,000 Idaho Power 4 3/4% 1987
1,015.54
1,000 Internat'l Bank for Reconstruction 4 1/2% 1973
1,000.00
3,000 New England Power 3 1/4% 1961
3,000.00
3,000 Niagara Mohawk Power 3 5/8% 1986
2,913.75
3,000 Pacific Tel. & Tel. 4 3/8% 1988
3,130.02
3,000 Southern California Edison 3% 1965
2,905.00
1,000 Virginia Electric & Power 4 1/8% 1986
1,036.05
3,000 Western Massachusetts Cos. 4 3/8% 1987
3,000.00
$33.404.03
Accumulated Income Principal
$ 1,563.99
31,840.04
$33,404.03
191
2.93
$ 505.00
Middlesex Institution for Savings
2,000.00
TRUST FUNDS
LINCOLN SCHOLARSHIP FUND
Cash Account
Cash balance at January 1, 1958
$ 471.02
Donations to Fund in 1958:
To General Fund:
General Appeal
$1,156.88
Lincoln School Association benefit
230.60
Parents League benefit
190.00
To Robert L. DeNormandie Fund
250.00
To 4-H Horse Club Fund
250.00
2,077.48
Interest income
110.72
Interest applied to amortize bond purchase premiums
.40
$2,659.62
Payments per order of Trustees:
Balance of 1957 grants :
Phyllis Campobasso, Colby College
$ 200.00
Valerie V. Chodsky, Harvard University
125.00
Stephen E. Murphy, Rutgers University
75.00
First half of 1958 grants :
Melanie O'Reilly, Catholic University
150.00
Valerie V. Chodsky, Harvard University
125.00
Marilyn Swanson, Lake Erie College
75.00
Expense of appeal letters, supplies
48.22
Use of hall for benefit
15.38
Safe deposit box rent
2.50
Deposited in savings bank
522.36
1,338.46
Cash balance at December. 31, 1958
$1,321.16
Cash and Securities at December 31, 1958
Cash on deposit
$1,321.16
Provident Institution for Savings
1,037.83
1,000 Federal Land Banks 3 7/8% 1972
994.75
1,000 Pacific Gas & Electric 5% 1989
1,007.38
$4,361.12
Reserved for balance of 1958 grants
$ 350.00
Robert L. DeNormandie Fund
750.00
4-H Horse Club Fund
375.00
General fund
2,886.12
$4,361.12
192
TRUST FUNDS
LINCOLN LIBRARY TRUST FUNDS
Cash Account
Cash balance at January 1, 1958
$ 83.19
Income received in 1958:
Julia A. Bemis Fund
$ 25.29
Elizabeth & Leland Burr Fund
2.73
Codman Fund
16.79
Robert L. DeNormandie Fund
14.73
Hugh Anthony Gaskill Fund
5.14
John H. Pierce Fund
36.36
Philip W. Place Fund
2.10
George Russell Fund
15.88
Abbie J. Stearns Fund
71.01
Abbie J. Stearns Special Fund
36.92
George G. Tarbell Fund
128.73
Constance Taylor Fund
2.72
C. Edgar & Elizabeth S. Wheeler Fund
45.76
404.16
Accumulated income withdrawn from savings banks : George G. Tarbell Fund C. Edgar & Elizabeth S. Wheeler Fund
70.13
207.43
$ 764.91
Books purchased per order Library Trustees : Compton's Encyclopedia
$ 127.35
Other books
341.01
Safe deposit box rent
3.00
Savings bank interest allowed to accumulate
241.99
Maryalice Thoma, Librarian, income from John H. Pierce Fund
36.36
749.71
Cash balance at December 31, 1958
$ 15.20
Cash and Securities at December 31, 1958
Accumulated Income on Deposit
Principal
Total
Julia A. Bemis Fund
Middlesex Institution for Savings
$ 113.66
$ 684.05
$ 797.71
Elizabeth & Leland Burr Fund
Middlesex Institution for Savings
16.62
70.00
86.62
Codman Fund
Middlesex Institution for Savings
54.90
474.59
529.49
Robert L. DeNormandie Fund
Warren Institution for Savings
67.47
397.00
464.47
Hugh Anthony Gaskill Fund
Middlesex Institution for Savings
-
158.89
158.89
193
TRUST FUNDS
Accumulated Income on Deposit
Principal
Total
John H. Pierce Fund
Cambridge Savings Bank
$ 500.00
$ 500.00
Middlesex Institution for Savings
614.57
614.57
1,114.57
1,114.57
Philip W. Place Fund
Warren Institution for Savings
$ 5.89
61.00
66.89
George Russell Fund
Middlesex Institution for Savings
85.19
415. 74
500.93
Abbie J. Stearns Fund
Middlesex Institution for Savings
185.43
930.00
1,115.43
Provident Institution for Savings
119.25
1,000.00
1,119.25
304.68
1,930.00
2,234.68
Abbie J. Stearns Special Fund
Middlesex Institution for Savings
1,136.07
1,136.07
George G. Tarbell Fund
Middlesex Institution for Savings
91.43
138.38
229.81
Warren Institution for Savings
119.47
1,000.00
1,119.47
1,000 Southern Bell Tel. 4% 1983
1,000.00
1,000.00
1,000 Western Mass. Elec. 4 3/8% 1987
1,000.00
1,000.00
210.90
3,138.38
3,349.28
Constance Taylor Fund
Warren Institution for Savings
13.06
73.00
86.06
C. Edgar & Elizabeth S. Wheeler Fund
Middlesex Institution for Savings
1,235.46
1,235.46
$872.37
$10,888.75
$11,761.12
Accumulated income on deposit
15.20
15.20
$887.57
$10,888.75
$11,776.32
-
-
-
-
-
- -
194
.
FINANCE COMMITTEE
FINANCE COMMITTEE
William N. Page Leonard C. Larrabee F. Winchester Denio, Chairman
Paul L. Norton John B. Tew
REPORT AND BUDGET FOR 1959
The Finance Committee submits herewith its budget for the year 1959 for General Purposes with items aggregating $906,633. and for Water Department aggregating $49,075.
The Committee recommends the adoption of the several items as listed in the attached budgets as individual appropriations making up the above aggre- gates. These aggregates (excluding Water Department) compare with the actual expenditures for corresponding purposes in 1958, as follows:
Expended 1958
Budget 1959
Increase (dollars)
Increase (per cent)
(1)
General Purposes $747,702.
$906,633.
$158,931. 21.2%
(1) Includes $7,187. (Lincoln's share) of prior appropriations for Planning, Regional High School, which was never needed and was used in 1958.
The cost to the Town for Education includes Schools and Library and, regardless of the manner in which it is appropriated, includes as well the bond service on outstanding debt issued to pay in part for land and buildings occupied by those activities.
Breaking down the above totals of the amounts spent in 1958 and the amount budgeted for the same general purposes for 1959 into two categories of "Education" and "All Other" discloses that Education accounted for 65% of the total spent in 1958 and is budgeted for 69.4% of the total for 1959. Of the total increase in the new budget over 1958 expenses, 90% ($143,191.) is for Education and 10% ($15,740.) is for the other Town Departments. The following is the breakdown:
Expended 1958
Budget 1959
Increase (dollars)
Increase (per cent)
Elementary School
$352,979.
$451,619.
$98,640.
27.95%
Regional High
122,927.
156,043.
33,116.
26.94%
Library
10,090.
21,525.
11,435.
113.33%
Total Education
$485,996.
$629,187.
$143,191.
29.46%
All other functions
NOTES :
261,706.
277,446.
15,740.
6%
(2)
(1)
(3)
(1) Includes $7,187. (Lincoln's share) of prior appropriations for Planning, Regional High School, which was never needed
195
FINANCE COMMITTEE
and was used in 1958.
(2) Includes $52,983. for teacher salary increases plus 40 per cent of annual salaries of four added teachers.
(3) Includes $24,666. for Lincoln's share of teacher salary increases plus 33 per cent of annual salaries of six added teachers.
A few statistics relating to elementary school facts five years ago in 1954 and at the present time may shed light for a better understanding of the trend :
1954
1958
Actual Increase
Per Cent Increase
Cost of Living Index
113.8
122.7 (12-58)
8.9
7.9 %
Houses Assessed
774
992
218
28.0 %
Polls Assessed
840
1,055
215
25.4 %
Population
2,949
3,585
636
21.5 %
(1955 Census)
(Chamber of Commerce )
Elementary Schools
1954 Expense
1959 Budget
Increase
Per cent
Pupils
537
842
305
56.5 %
Teachers (exc. Supt.)
27
45
18
66.6 %
Total (Ex. Bond
Service)
$146,998.
$373,275.
$226,277.
153.9 %
Teacher Salaries
$ 77,025.
$233,290.
$156,275.
202.9 %
Average Salary
$ 2,853.
$ 5,182.
$
2,329.
181.6 %
Pupils per teacher
19.8
18.7
(1.1) decr.
( 5.5 %)
Bond service
$ 41,995.
$ 78,343.
$ 36,384.
86.6 %
The cost of Teacher Salaries is the major annual operating expense of any public school system and we do not expect that item to be reduced on a per teacher basis. Neither this nor any other town is likely to stabilize or reduce the amount of money spent for public school education by any pro- cedure likely to be popular with educators.
Leaving out of consideration the possibility that additional taxes collected from the public as a whole and parcelled out to the cities and towns on some formula basis may give some modest and temporary relief on real estate taxes, we see no procedure by which a town can reduce its total school ex- penses without having the voters make a determined stand to do so and make
196
FINANCE COMMITTEE
their elected representatives aware of their intentions.
The Finance Committee could make a number of suggestions that would, if accomplished, tend to stabilize expenditures and avoid or at least postpone building. However, up to this time the Committee has seen no evidence that the Town is otherwise than completely satisfied, or at least willing to accept, the financial burden that necessarily accompanies an ambitious school program.
The Committee recommends the adoption of the several items as listed on the attached schedule for the Water Department aggregating $49,095. This total compares with a total of $33,587 last year and includes an increase of $6,113 in bond service on the additional issue of bonds in 1958.
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