USA > Massachusetts > Essex County > Swampscott > Town annual report of Swampscott 1909 > Part 5
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Serial Bonds vs. Sinking Fund.
The question of Serial Bond Issue or establishing a Sinking Fund if the town should vote to go into the Metropolitan District has received careful attention by your committee. We have interviewed the Treasurer of the Commonwealth, Town Treasurer and several bankers with the result that the committee are unanimously in favor of a Serial Bond issue.
Our conclusions are so well stated in the Report of the Joint
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TOWN DOCUMENTS.
[Feb. I
Special Committee on Ways and Means of the Massachusetts Legislature 1908 appointed to consider the expediency of legis- lation in reference to financial methods of the Commonwealth that we quote from their report.
" The sinking fund system, assumes a sinking fund to which equal yearly contributions are made, and assumes that such fund will be invested so as to earn 3 per cent. As a matter of fact, the Commonwealth sometimes pays more than 32 per cent for money and sometimes less than 32 per cent, and the sinking funds at present are on the average earning a little more than 3 per cent, but the principle is the same, and if the exact figures were given we believe they would still show that the policy of borrowing money under the sinking fund system is expensive.
The Serial bond system, as referred to above, assumes a series of bonds for each loan, an equal amount of which falls due and is paid each year. Thus there is under this system no necessity of a fund to be cared for and kept invested. If it be true that serial bonds will not sell in the market at as high a figure as long-time sinking fund bonds, nevertheless, if an allowance were made for this, we believe it would still remain true that the policy of issuing sinking fund bonds is the more expensive. Moreover, the care and danger involved in managing a sinking fund is avoided under the serial bond system.
There are other advantages in the policy of issuing serial rather than sinking fund bonds, which are worth mentioning. For instance, under the sinking fund system there exists a constant temptation, under the pressure of other expenses, to neglect to make sufficient contribution to the sinking funds ; and thus at the maturity of the loan a fund sufficient to meet it is not at hand, and the debt, or a portion of it, must be refunded. This has not happened in the case of the Commonwealth, but it frequently happens in the case of her cities and towns. Under serial bond system the bonds must be paid when they fall due; there is no way to avoid it, or to cover up any delinquency. Sinking funds are sometimes badly invested, and sometimes stolen."
We therefore recommend that if the Town votes to enter the district that money be raised by a Serial Bond issue payable in
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RECORDS OF TOWN CLERK.
1909]
30 years, an equal amount of bonds to be retired each year, and that such bonds bear interest at the rate of 34 per cent. The rate named is a low one but your committee is assured if the present state of the bond market remains the same that these bonds will sell at par, probably at a slight premium, as such bonds find a ready market.
Under a Serial Bond issue the fixed charges of our water de- partment would be as follows :
Interest on Sinking Fund on $150,000 now
outstanding $8,250
Retirement of Serial Bond each year 3,000
Interest on $90,000 Ist year at 3} per cent, 3,150
Total fixed charges .
$14,400
The average interest on the $90,000 issue for the full term of years would be $1,575 per annum.
Local charges can only be estimated, so we have reckoned on the basis of the expenditures as they appear in the Swampscott Town Report the past five years.
Total fixed charges as above $14,400
Assessment for Metropolitan water Ist year, 11,200
Construction account (average for past five years) . ·
6,800
Maintenance (average for past five years),
2,600
Renewals and general expenses (average for past five years) · · 1,400
Repairs (average for past five years) ·
1,100
Service expense (average for past five years), 250
Miscellaneous (?)
$37,750
It is apparent to all that the maintenance of a water system in a town like Swampscott is more expensive than in a large and thickly populated city. The houses in our town are widely separated as compared with a city and the services are mainly
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TOWN DOCUMENTS.
[Feb. I
for one family instead of two or three or more as is the case in Lynn. We have no large manufacturing plants and only one or two large takers of water. Water is a source of revenue in many of the cities while many of the towns are obliged to vote money, quite large amounts in some cases, from the tax levy.
To illustrate :- The town of Arlington votes $7,000 for use of water in hydrants and public buildings and votes a total amount of $19,500 to its water department. In stating this we are not advocating such a plan for Swampscott but to show how some towns meet deficiencies.
In making a comparison of the revenues of the water depart- ment for the past five years we find that the average rate of increase has been about $1,250 a year and that the expenditures have kept pace with the increase of revenue. The total average revenue and the total average expense for the past five years being the same, $24,000.
In computing the expense we have not included the cost of meters as the most of that expense was provided for by the issue of bonds.
From the fact that the construction charges have averaged $7,000 for the past five years we believe that the expenses in this department will not be so heavy in the immediate future.
We believe the installing of meters by the town will prove a good investment as it will be a source of revenue and a material saving in the use of water in future years. A recent act of the legislature compels all towns and municipalities in the Metro- politan District to meter five per cent. each year of all numetered services.
Contract vs. District.
We have explained at length the financial condition and expenditures of the water department that we might discuss more intelligently their relation to the two propositions before us. It is one of the most important questions that has come before our town for years and is one that calls for intelligent action.
If the town could make a contract with the Metropolitan Board which would guarantee us an uninterrupted supply of
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RECORDS OF TOWN CLERK.
1909]
water for ten years it would at least settle the question for that time, but we can make no contract for ten, or even five years, without the Metropolitan Board reserving the right to cancel same at six months' notice when conditions of supply, in their opinion, warrant it. This Board intimates that such conditions may exist in three or four years, possibly more.
It is therefore apparent to everyone that it is only a question of time when we shall be obliged to enter the system, or stand an assessment which will mean the same thing or seek a supply elsewhere.
This is the point where conditions cease and theory and con- jecture hold sway. The opinion of one man is as good as another's as to what would be the probable result of above con- ditions and this committee does not wish to take the responsi- bility of advising further than to say, that in their opinion from the results of their investigation as to obtaining water from Lynn that while the cost would be problematical, in our opinion it would be about the same as Metropolitan water.
District.
We are now face to face with the same problem that agitated Swampscott so many years-a permanent water supply.
In considering this question your committee is not unmindful of the present large debt due to our expensive sewer system, which, together with our present water debt, and loans makes a total net debt of about $500,000. This places us 23d in the list of towns of the state in this respect. Your committee might well hesitate before recommending an additional $90,000.
However, your committee finds itself in a position of official responsibility which it has not sought, but it will not shrink from what it believes to be its duty. This expenditure places us in the hands of the State, settling as it does once and for all the question of water supply :
Swampscott is growing fast in valuation and population and this expense of $90,000 which seems a big burden now will be lessened in future years by those who will share it with us.
Your committee have endeavered to take a broad view of the
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TOWN DOCUMENTS.
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matter and look to the interests of the Swampscott of the future. As we review the history of the water question of Swampscott before its connection with the Metropolitan System, and since, and take a glance into the future, we believe the best policy of the town is to settle on a permanent and reliable water supply and not to trust too much to the uncertainty of the future. We believe it best to anticipate emergencies that are quite likely to occur rather than to wait the time of their happening. In so doing this committee thinks it is giving wise and conservative judgment to the town.
We therefore unanimously recommend that Swampscott take measures to enter the Metropolitan Water System.
J. HENRY WELCH, ALBERT R. ELLIS, FRANK W. KIMBALL, EDWARD H. KITFIELD, FRED M. COLLINS, GEORGE D. R. DURKEE,
Committee on Ways and Means.
Voted, That the report be received.
The amendment of Mr. George E. Smith offered at a previous meeting, being before the meeting for adoption, Mr. Maxfield offered the following motion, which was unanimously carried.
When the vote on this motion is taken, it shall be at an ad- journed meeting to be held on Wednesday, Jan. 27 at 4 o'clock P. M., to vote by Australian ballot, yes or no, shall the Town of Swampscott enter the Metropolitan Water District, polls to close at 9 o'clock P. M., and that the Town Clerk prepare bal- lots for this purpose.
Voted, at 7.50 P. M., to adjourn.
Attest : MILTON D. PORTER,
Town Clerk.
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RECORDS OF TOWN CLERK.
1909]
Adjourned Special Town Meeting, Jan. 27, 1909.
Meeting called to order at 4 P. M. by the Moderator. Records of last meeting read and declared approved. Ballots having been prepared by the Clerk, John T. McDermott and S. Perry Cong- don were qualified by the Clerk as Tellers; the polls closed at 9 P. M., 547 ballots having been cast. At 10 P. M. the follow- ing was declared as the result of the balloting : Yes, 294; no, 250; blanks, 3. It was unanimously
Voted, That the application for admission to the Metropolitan Water District, heretofore made by the Water Commissioners in behalf of the Town of Swampscott, be hereby ratified and con- firmed; that William H. Bates, Samuel M. Kehoe and I. Irving Edgerly, Water Commissioners, be authorized and instructed to execute, acknowledge and deliver, in the name and behalf of the Town of Swampscott, a transfer and conveyance to the Com- monwealth of Massachusetts of all the interest of the Town in the water pipes now belonging to it in the city of Lynn, used for con- veying water from the Metropolitan Water Works to the Town; also an agreement with the Commonwealth and the Metropolitan Water and Sewerage Board that water meters shall be placed upon all water services in the Town within the period of three years, from January 1, 1909, and shall be placed upon all water services thereafter installed, and that all services shall be operated on meter rates; and also the further agreement that, in the case the Town of Marblehead shall not be admitted into the Metro- politan District before July 1, 1909, the Town of Swampscott will pay to the Commonwealth of Massachusetts the sum of $5,000; and that the Treasurer of the Town be authorized and instructed, when so directed by the said Bates, Kehoe and Edgerly, Water Commissioners, to pay to the Commonwealth the sum of $85,000, that amount being required by the Metropolitan Water and Sewerage Board to be paid in cash upon the admission of said Town into the Metropolitan Water District.
Voted, at 10.05 P. M., To dissolve the meeting.
Attest : MILTON D. PORTER,
Town Clerk.
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TOWN DOCUMENTS.
[Feb. I
Town Clerk's Statistics.
Births Recorded.
Males, 65 ; females, 62. Total, 127.
In January, 13; February, 8; March, 8; April, 10; May, 10; June, 13; July, 8; August, 12; September, 12; October, 10; November, 5 ; December, 18.
Nativity of Fathers - Massachusetts, 55; Italy, 23 ; Maine, 8; Canada and Newfoundland, 7 each ; Vermont, England and Ireland, 3 each ; New York, New Hampshire, Pennsylvania and Norway, 2 each; Rhode Island, Connecticut, New Jersey, Illi- nois, Germany and Greece, I each.
Nativity of Mothers-Massachusetts, 52 ; Italy, 22, Ireland, 12; Canada and Newfoundland, 8 each ; Maine, 6; England, 5 ; New Hampshire and New York, 4 each; Vermont, Connecti- cut, Scotland, Norway and Sweden, I each.
Fathers born in Swampscott, 12; mothers born in Swamp- scott, 6.
Marriages Recorded, 63.
In January, 5; February, 5; March, 3; April, 3; May, 6; June, 8; July, 1 ; August, 8; September, 4; October, 9; No- vember, 8; December, 3.
Nativity of Grooms-Massachusetts, 31 ; Ireland, 7; Maine and Canada, 4 each; New Hampshire, 3; Pennsylvania and Italy, 2 each ; Vermont, New York, Virginia, Georgia, Illinois, Michigan, Oregon, Newfoundland, Sweden and Denmark, I each.
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RECORDS OF TOWN CLERK.
1909]
Nativity of Brides -Massachusetts, 33; Ireland, 11 ; Can- ada, 8 ; New York and Newfoundland, 2 each ; Maine, Vermont, Maryland, Missouri, Italy, Germany and Denmark, I each.
Grooms born in Swampscott, 8 ; brides born in Swampscott, 8.
Deaths Recorded.
Males, 35 ; females, 33. Total, 68.
In January, 6; February, 11 ; March, 5 ; April, 10; May 3 ; June, 2 ; July, 5 ; August, 4; September, 5; October, 2 ; No- vember, 8; December, 6.
Under 5 years, 11 ; 10 to 20, 2 ; 20 to 30, 2 ; 30 to 40, 4 ; 40 to 50, 1 ; 50 to 60, 7 ; 60 to 70, 14 ; 70 to 80, 14 ; 80 to 90, 12 ; over 90, I .
Eighty years of age and over-Mary Renolds Nute, 80 years, 6 mos. 3 days, chronic bronchitis; Abby H. Johnson, 80 yrs. 6 mos. 5 days, cerebral hemorrhage; John C. Stevens, 80 yrs. II mos, 28 days, old age ; Ann Farrington McDonough, SI yrs, senile asthenia ; Jane Maloney McNichol, 81 yrs, 3 mos. I I days, nephritis ; Mary Clements Weston, 81 yrs. 4 mos. 14 days, oedema pulmonary ; Samuel Averill, 81 yrs. 4 mos. 23 days, senile paralysis ; Dolly French Drew, 81 yrs. 4 mos. 27 days, cerebral hemorrhage and senility ; Sarah Ellen Roads Parker, 81 yrs. 5 mos. 13 days, congestion of lungs; David Henderson Laing, 83 yrs. 8 mos. 27 days, paralysis of intestines ; Nathan- iel Wiley Rich, 84 yrs., cerebral hemorrhage; Anna Graffan Mitchell, 86 yrs. lobar pneumonia ; Abraham Weston, 93 yrs. 4 mos. 25 days, accident ; fall from a window.
Dogs Licensed.
Males, 240. Females, 68. Total, 308. I Breeder's License.
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TOWN DOCUMENTS.
[Feb. I
Licenses Issued to Junk Dealers. Two at $75 each.
Peddlers of Foreign Fruits, Etc. Four at $2 each.
Pool Table Licenses.
Five at $2 each.
Auctioneers' Licenses.
One at $2 and one soldier's.
Bowling Alley License.
One at $2.
Surveyor of Lumber, Etc.
One at $1.
Paid Town Treasurer $157.
Gunners' Licenses Issued (State) Seven at $1 each.
Paid State Treasurer $7.
Attest : MILTON D. PORTER,
Town Clerk.
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JURY LIST.
1909]
Jury List.
Prepared and posted by the Selectmen for the consideration of the Town at the Annual March Meeting.
Andrews, Isaac H.
Carpenter
Baker, Freeman A.
Paperhanger
Ball, Paige B.
Retired
Barker, George .
Superintendent
Blanchard, Leonard A.
Retired
Brackett, Samuel G. .
Retired
Bryson, John H.
Merchant
Cahoon, L. Frank
Agent
Clough, A. Wesley
Retired
Congdon S. Perry
Foreman
Cullen, John A.
Blacksmith
Curtis, Edward H.
Boatman
Curtis, Thomas B. P.
Merchant
Daniels, Frank W.
Retired
Dean, Leander N.
Counterworker
Delano, Gilbert
Carpenter .
Durkee, George D. R.
Merchant
Ellis, Albert R.
Builder
Ellis, Stuart P.
Photographer
Eno, Fred L.
Clerk .
Foster, Arthur F.
Lawyer
Frazier, Alfred F.
Reporter
Gilbert, George E.
Insurance
Iverson, William E. .
Machinist
Hathaway, Charles A.
Retired
Jackson, Charles T. .
· Retired
Jennings, Harry
Carpenter
.
.
.
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TOWN DOCUMENTS.
[Feb. I
Kehoe, Samuel M.
Merchant
King, Robert
Insurance
Lampard, George H. .
Painter
Libby, Herbert B.
Merchant
Loud, Charles Q.
Superintendent
Lyons, James T.
Contractor
Maitland, John .
Salesman
Mather, Joseph P.
Shoemaker
Mehagan, John J.
Upholsterer
Melanson, George W.
Salesman
Melzard, Richard E.
Clerk
Merritt, John R.
Manufacturer
Millett, Orlando R.
Carpenter
Mower, Fred
Actor
Moose, J. Frank
Real Estate
Mudge, Henry L.
Salesman
McDermott, John T.
Machinist
Norcross, W. Percy
Electrician
Olsen, Andrew .
Shoecutter
Otis, William H.
Insurance
Potter, William A.
Box maker
Rowell, Arthur W.
Mason
Stoddard, George F. .
Plumber
Tatro, Lewis W.
Salesman
Thing, Ernest B.
Fisherman
Tuttle, Edgar M.
Paper hanger
White, Guy T.
. Shoemaker
Willey, James A.
· Agent
85
REPORT OF SELECTMEN.
1909 ]
Report of the Selectmen.
To the Citizens of Swampscott :
The Selectmen herewith present the following as their report for the past year, and include in the same recommendations for the consideration of the Town at the annual March Meeting.
Atlantic Avenue.
The work of rebuilding Atlantic avenue by the Surveyor of Highways, we consider was done in a thorough manner.
All work was inspected by representatives of the Massachu- setts State Highway Commission and highly approved by them. At the conclusion of the road building the surface was treated with a tar preparation which was recommended by various parties.
Until winter came the surface of the road was in perfect con- dition, but the cold has affected the coating and we are unable to say whether or not the higher temperature will bring the surface to its original condition. We are advised, however, that with a small expense the surface can be made as good as new.
Street Watering.
The present method of street watering is very unsatisfactory both to the Town's people and the officials having the same in charge. Unless more carts are employed and all the streets are sprinkled, and the same done by assessment, these conditions will continue. As this will cause an additional expense to the tax payers, we hesitate to advise a change from the present sys- tem. The past summer was exceptionally dry, and the needs of
7
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TOWN DOCUMENTS.
[Feb. I
watering much greater than in previous years, consequently the appropriation for the purpose, which was of the usual amount, was overdrawn. We have experimented by using the calcium process, so called, in sprinkling, and while the results were sat- isfactory, the expense of the same was considerable, and to treat the streets with this material, under the present system, will require a larger appropriation.
Engine House Repairs.
The appropriation for this purpose was expended by your committee in repairs. While this amount was insufficient to wholly repair the building, the most pressing needs were attended to and the building considerably improved. An appro- priation will be required this year for further repairs, and for painting the building.
Cemetery Improvement.
Bids for the work at the cemetery were advertised for, and upon the estimate furnished by the engineer in charge, the con- tract was awarded to M. McDonough, he being the lowest bid- der. The work was done on the lines of the plans submitted at the last annual meeting, and we were able to complete all but a small portion of the work. After the ledge removal had been completed, it was found that the estimate furnished, had been exceeded about four hundred cubic yards. Believing it to be the best policy to finish the work, and believing also that it could be done at a smaller cost while the contractor had all the utensils on the ground, your committee gave a further contract to Mr. McDonough to complete the work. This also included the erection of two sightly gate posts and curbing. The completed improvement gives 63 large and 52 small lots for burial purposes at an approximate cost of 50 cents per lot foot. Large lots average 300 square feet ; small lots average 100 square feet.
The Selectmen recommend that the Town consider the advis- ability of selling the lots in this portion of the cemetery subject to the conditions of perpetual care, that being the custom in many places.
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REPORT OF SELECTMEN.
1909]
Farnham Fence.
Several meetings were held on the subject, with Mr. Farnham present at one. Mr. Farnham agreed to abide by the survey to be made by Eastman and Bradford. The surveyors reported the line substantially as orginally reported by Mr. Gay. Mr. Farnham now agrees to waive all claim to the land enclosed, and stand the entire cost of the fence, provided the Town will allow the fence to stand in its present location.
Corner Burrill and Essex Streets.
The land as recommended last year has been purchased and the Town has laid circular edgestones around the property, making a very pleasing effect. We consider that a very danger- ous street corner has been permanently removed.
Claims Against the Town.
None of the claims as reported in the report of the Selectmen, last year, have been settled, and the various matters are still pending.
Ambulance.
The service from the ambulance the past year has been reported as especially good, and we see no need of any change in the management or location for the coming year.
NEW STREETS. Beuna Vista Street.
Since the last report of the Finance Committee the Selectmen have had a new plan made by Eastman & Bradford, engineers, which appears to give satisfaction to the abutters. The Select- men advertised hearings and have viewed the premises and all parties interested have been heard. A portion of the Pearson property has been secured and the matter will be presented by an article in the Warrant to endorse said laying out. We recommend that the Selectmen be given power to deed to Jennie Greenleaf, the land discontinued, in exchange for land to be deeded by her, as shown on plan presented.
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TOWN DOCUMENTS.
[Feb. I
Banks Road.
This street was originally laid out by the Swampscott Land Trust, forty feet in width, and built thirty feet. The Selectmen do not consider it feasible, owing to the large amount of ledge to be removed and the heavy expense for construction, to recom- mend that the Town build this extra ten feet in width, which practically means the Town's rebuilding the entire street.
Walker Road.
We are favorable to the laying out of this road as per plan pre- sented, when all the waivers are signed.
Contracts.
The following bids were received and contracts awarded as follows :
Curbstone-M. McDonough, .75 delivered ; Peabody Granite Co., .50; Rockport Granite Co., 65 on cars. Awarded Rockport Granite Co.
Street watering-J. B. Kenison, watering with car sprinkler, Essex street, $480.00; Humphrey street, $864.00. Town to furnish water. Bid rejected.
Cemetery improvement-D. J. Sheehan & Co., $4,415.15 ; F. D. Mayo, $4,392.95 ; John McCourt & Co., $4,379.90 ; J. T. Lyons, $4,087.80; M. McDonough, $3,747-45; A. Del Signore, $4,295.50; A. J. & G. H. McMurtry, $5, 112.85 ; William Miller & Sons, $4,852.30. Awarded McDonough.
Engine House repairs-H. E. Hardy, $2,475 ; W. J. Waters, $1,825. Bids rejected.
Coal-B. O. Honors & Son, White ash, $6.50; Cumberland, $4.50. No other bid. .
Printing Town Report-Frank S. Whitten, $1.25 per page.
Fire Hose-C. C.C. Hose Co. Sentry .55 foot ; Ironside, .60; Eureka Fire Hose Mfg. Co. Single knit, .53 ; Eagle, 60. Awarded C. C. C. Hose Co., at .60.
Concrete - J. H. McLaughlin, forty-three cents per sq. yard.
89
REPORT OF SELECTMEN.
1909]
After consulting with the various boards, the following amounts are recommended as appropriations for the current year.
Highway .
$12,000
School
35,000
School alterations
3,000
Selectmen's
6,500
Poor
2,400
Police
6,800
Fire
9,000
Library
1,000
Street light
10,500
Cemetery .
1, 200
Sidewalks
1,000
Town Hall
1,500
Crushing stone
1,500
Catch Basin and Gutters
1,000
Continuous sidewalks
1,000
Curbstones
500
Memorial Day .
200
Care Monument Lot .
50
Tree Warden
400
Street Watering
5,000
Water Rates
2,500
Health
4,500
Soldiers' Relief
2,400
Park .
2,150
Care Brooks
300
Assessors .
1,500
Care snow
1,000
Sewer Maintenance
5,500
Sewer Bonds
4,600
Interest Sewer Bonds
6,700
State Tax (estimated)
20,000
County Tax
·
12,000
Interest
9,500
Resetting curbstones .
200
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TOWN DOCUMENTS.
[Feb. I
Recommendations.
Perpetual care for new portion of cemetery. An appropriation for Engine House Repairs.
An appropriation of $1,000 for the continuance of the work of Continuous Sidewalks.
An appropriation for gates at the cemetery.
Respectfully submitted,
ARTHUR C. WIDGER, FRED C. MARSH, JAMES F. CATON,
Selectmen of Swampscott.
91
REPORT OF SCHOOL COMMITTEE.
1909]
Report of School Committee.
To the Citizens of the Town of Swampscott :
The past year has been an unusually active one for the School Committee. In addition to giving its attention to the ordinary affairs of the department the committee has had the general supervision of the erection of a new school building, new labor- atories in the High School building and extensive repairs upon other buildings.
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