USA > Massachusetts > Norfolk County > Weymouth > Town annual report of Weymouth 1945 > Part 15
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174
County Liabilities : County Tax-Deficit
3,670.20
Town
175
TRUST AND INVESTMENT FUNDS
Cash and Securities
$1,274,335.49
Tufts Fund, Free Public Lectures
$ 5,000.00
Tufts Fund, Free Public Lectures-Income 919.53
Tufts Fund, Reading Room
2,500.00
Tufts Fund, Books
2,500.00
Tufts Fund, Sidewalk and Shade Trees
2,000.00
Tufts Fund, Sidewalk and Shade Trees-Income
256.56
Tufts Fund, Care of Tufts Tomb
500.00
John C. Rhines Fund
10,000.00
John C. Rhines Fund-Income
3,246.84
Elias S. Beals Park Fund
1,000.00
Elias S. Beals Park Fund-Income
165.41
Laban Pratt Hospital Fund
300,000.00
Laban Pratt Hospital Fund-Income
292,592.85
Laban Pratt Fountain Fund
400.00
Laban Pratt Fountain Fund-Income
542.54
Augustus J. Richards Library Fund
5,000.00
Joseph E. Trask Library Fund
12,805.88
Susannah Hunt Stetson Library Fund
2,500.00
Tirrell Donation Library Fund
1,000.00
Francis Flint Forsythe Library Fund
1,000.00
Arthur E. Pratt Library Fund
3,000.00
Charles Henry Pratt Library Fund
500.00
William H. Pratt Library Fund
2,798.80
Alida M. Denton Library Fund
700.00
Weymouth Back River Bridge Fund
3,000.00
Municipal Buildings Insurance Fund
102,451.00
Martha Hannah King Fund
71.82
Post-War Rehabilitation Fund
500,000.00
Post-War Rehabilitation Fund-Income
17,884.25
$1,274,335.49
$1,274,335.49
Emerson R. Dizer, Town Accountant
1
REPORT OF THE WEYMOUTH RETIREMENT SYSTEM
Weymouth, Mass January 30, 1946
To the Honorable Board of Selectmen and the citizens of Weymouth :
The Weymouth Retirement Board submits the following report of its activities for the year 1945.
The 1945 Legislature, by Chap. 658, amended Chap. 32 of the General Laws to provide more liberal payments to members of contributory retirement systems at the time of retirement.
The responsibility placed upon the board by the terms of the new act is much greater than before and requires the use of many prescribed forms and a revision of the accounting procedure.
Retirement was provided for four members of the system during the year and three retired members were lost by death.
The earnings for the year were sufficient to provide the interest credit to all funds of 3% as required by statute while the disposal of certain bonds held in the investment account returned a net profit of $6,352.89.
The board received from the Granite Trust Company on December 31, 1945, $10,354.20, it being the equivalent of the amount of the check tendered them on July 11, 1944, for the purchase of a United States Savings Bond plus interest at 21/2% to December 1, 1945. The immediate purchase of a United States Savings Bond dated December 1, 1945, has prevented any financial loss in the funds of the system by virtue of the improper use of the check dated July 11, 1944.
Information relative to the operation of the system is available at all times and the board is anxious to observe its obligations in the interest of the membership.
Members of the system January 1, 1945
241
Enrolled
41
Withdrawals
21
Retirements
4
Membership December 31, 1945
257
Pensioners January 1, 1945
35
Retired in 1945
4
Deaths in 1945
3
Membership December 31, 1945
36
FINANCIAL REPORT FOR THE YEAR 1945
INCOME
From Members :
Regular Contributions-Group I
$ 12,882.25
Regular Contributions-Group II
4,911.56
From Municipality :
Accrued Liability Contribution
20,728.00
Normal Liability Contribution
8,835.00
Expense Fund
698.00
Military Leave Reserve
731.72
Interest on Deposits :
North Weymouth Co-operative Bank
60.00
East Weymouth Savings Bank
44.72
Coupons on Bonds
1,877.60
U. S. Treasury, Interest
4,062.50
Granite Trust Co., in lieu of interest
354.20
Profit on Sale of Bonds
6,352.89
$61,538.44
DISBURSEMENTS
Annuity Payments :
To members retired in Group I
To members retired in Group II
$ 1,228.56 45.00
176
Pension Payments :
To members retired in Group I
16,377.89
To members retired in Group II
4,814.72
Refunds:
To members in Group I
4,546.58
To members in Group II
1,869.38
Expenses :
Clerical Service
598.00
Stationery, Supplies, etc.
62.67
Rent Safe Deposit Box
10.00
Association membership
5.00
Accrued interest on bonds purchased
113.33
Increase for the year
$31,867.31
BALANCE SHEET - DECEMBER 31, 1945 ASSETS
$ 6,470.47
Investments
221,100.77
North Weymouth Co-operative Bank Shares
2,000.00
$229,571.24
LIABILITIES
Annuity Savings Fund-Group I
$ 74,973.86
Annuity Savings Fund-Group II
33,724.47
Pension Accumulation Fund-Group I
64,887.39
Pension Accumulation Fund-Group II
29,882.44
Annuity Reserve Fund -- Group I
9,001.08
Annuity Reserve Fund-Group II
414.80
Expense Fund
: 54.43
Profit on Sales
13,360.88
Military Leave Reserve
1,572.06
Undistributed Earnings
853.84
Investment Income
845.99
$229,571.24
SCHEDULE OF BONDS OWNED DECEMBER 31, 1945
Coupon
Par
Amortized Value
New York Central R.R.
31/2%
July
1, 1997
$10,000
$ 8,502.92
Northern Pacific R. R.
4 %
Jan.
1, 1997
10,000
6,983.50
Pacific Gas & Electric Co.
3 %
Dec.
1, 1979
10,000
10,639.35
Southern Pacific R. R.
33/4%
Jan.
1, 1996
10,000
9,975.00
U. S. Savings Bonds
21/2%
Feb.
1, 1954
10,000
10,000.00
U. S. Savings Bonds
21/2%
Mar.
1, 1954
10,000
10,000.00
U. S. Savings Bonds
21/2%
June
1, 1954
5,000
5,000.00
U. S. Savings Bonds
21/2%
Aug.
1, 1954
10,000
10,000.00
U. S. Savings Bonds
21/2%
Oct.
1, 1954
10,000
10,000.00
U. S. Savings Bonds
21/2%
May
1, 1955
40,000
40,000.00
U. S. Savings Bonds
21/2%
June
1, 1956
50,000
50,000.00
U. S. Savings Bonds
21/2%
June
1, 1957
25,000
25,000.00
U. S. Savings Bonds
21/2%
Dec.
1, 1957
10,000
10,000.00
U.S. Victory Bonds
21/2%
Dec. 1, 1963
15,000
15,000.00
$225,000
$221,100.77
Respectfully submitted, Francis L. Gaughen, Chairman Emerson R. Dizer, Secretary Erle R. Starratt
177
Description of Bonds
Rate
Maturity
Value
29,671.13
Treasurer's Cash
WEYMOUTH CONTRIBUTORY RETIREMENT FUNDS
Balance January 1, 1945 In Banks U. S. Savings Bonds and Corporation Bonds
$ 5,590.68 190,000.00
North Weymouth Bank Shares
2,000.00
$197,590.68
RECEIPTS 1945
Members Contributions
$ 17,793.81
Town Appropriation
30,992.72
Interest on Bonds
6,151.70
Interest on Bank Accounts
44.72
Bonds Sold
21,182.32
$ 76,165.27
DISBURSEMENTS 1945
Retirement Allowances
$ 22,466.17
Bonds Purchased
45,727.68
Services (Acct. Dept.)
598.00
Supplies and Incidentals
62.67
Safe Deposit Box
10.00
Refund of Contributions
6,415.96
Association Membership
5.00
$ 75,285.48
€
INVESTMENTS OF FUNDS
Granite Trust Balance Checking Account
December 31, 1945
$ 1,790.03
East Weymouth Savings Bank
4,680.44
North Weymouth Cooperative Bank
2,000.00
U. S. Savings Bonds
170,000.00
U.S. Victory Bonds
15,000.00
Other Corporate Bonds
40,000.00
$233,470.47
TOWN TREASURER'S REPORT
To the Citizens of the Town of Weymouth:
Treasurer's Cash January 1, 1945
$ 217,954.49
Total Receipts for 1945
2,487,384.72
Disbursements on Selectmen's Warrants
2,432,051.69
Treasurer's Cash December 31, 1945
$ 273,287.52
For details of Receipts and Disbursements
please see Accountant's Report.
ASSETS
Due from Frank W. Holbrook, Collector of Taxes 1944
$ 3,772.30
Due from Frank W. Holbrook, Collector of Taxes for 1944 Water Liens
175.70
Due from Frank W. Holbrook, Collector of Taxes 1945
66,341.46
Due from Frank W. Holbrook, Collector of Taxes for 1945 Water Liens
805.35
Trust Funds and Accumulated Interest
774,335.49
Deposits Granite Trust Company
259,302.77
Deposits First National Bank, Boston
3,984.75
178
$2,705,339.21
Deposits Second National Bank, Boston 5,000.00 Deposits Merchants National Bank, Boston 5,000.00 Sundry Bills Receivable 4,864.36
Town of Weymouth Post War Rehabilitation Fund 500,000.00
Interest on Post War Rehabilitation Fund to December 31, 1945
17,884.25
Total Assets December 31, 1945
$1,641,466.43
LIABILITIES TOTAL AMOUNT OF NOTES AND BONDS OUTSTANDING
Bicknell School Addition 1945-1950
$ 30,000.00
New Hunt School 1945-1946
10,000.00
High School Building Addition 1945-47
26,000.00
Total Liabilities December 31, 1945
$ 66,000.00
NOTES AND BONDS DUE 1946
Bicknell School Addition, 4%, July 1
$ 6,000.00
New Hunt School 1945-1946, 412%, July 1
10,000.00
High School Building Addition, 334%, Nov. 1
13,000.00
Total amount due 1946
$ 29,000.00
1947
Bicknell School Addition, 4%, July 1
$ 6,000.00
High School Building Addition, 334%, Nov. 1
13,000.00
Total amount due 1947
$ 19,000.00
TRUST FUNDS LABAN PRATT HOSPITAL FUND
Bequest July 22, 1925
$300,000.00
Interest to December 31, 1944
279,198.37
Total Fund January 1, 1945
$579,198.37
Income During 1945
13,394.49
Total Fund December 31, 1945
$592,592.86
INVESTMENTS OF ABOVE FUND
East Weymouth Savings Bank
$125,674.12
South Weymouth Savings Bank
152,786.69
Weymouth Savings Bank
114,132.05
U. S. Government Bonds
200,000.00
Total
$592,592.86
LABAN PRATT FOUNTAIN FUND
$ 400.00
Bequest deposited in Weymouth Savings Bank 1925 Interest to December 31, 1944
523.98
Total Fund January 1, 1945
$ 923.98
Interest received during 1945
18.56
Total Fund December 31, 1945
$ 942.54
179
1
MUNICIPAL BUILDING INSURANCE FUND
Total Fund January 1, 1945 Added By Vote of Town in 1945 Interest received during 1945
$ 95,014.30 5,000.00 2,436.70
Total Fund December 31, 1945
$102,451.00
INVESTMENTS OF ABOVE FUND
East Weymouth Savings Bank
$ 5,992.09
South Weymouth Savings Bank
6,458.91
U. S. Government Bonds
90,000.00
Total Fund December 31, 1945
$102,451.00
JOHN C. RHINES FUND Bequest March 10, 1924, Income for any Public Purpose
$ 10,000.00
INVESTMENT OF ABOVE FUNDS
South Weymouth Savings Bank
$ 2,500.00
Weymouth Savings Bank
5,000.00
U. S. Government Bonds
2,500.00
Total Fund December 31, 1945
$ 10,000.00
JOHN C. RHINES INCOME ACCOUNT
Income received to January 1, 1945
$ 2,951.39
Interest received during 1945
295.45
Total Fund Weymouth Savings Bank and U. S. Savings Bonds, December 31, 1945
$ 3,246.84
ELIAS S. BEALS FUND
Bequest, Income for care of Beals Park
$ 1,000.00
Total Fund January 1, 1945
$ 1,136.82
Interest received during 1945
28.59
Total in South Weymouth Savings Bank
December 31, 1945
$ 1,165.41
JOSEPH E. TRASK FUND
Total Fund January 1, 1945
$ 12,805.88
Interest 1945 Paid Tufts Library
$300.10
Total Fund December 31, 1945
$ 12,805.88
INVESTMENT OF ABOVE FUND
East Weymouth Savings Bank
$ 2,005.88
South Weymouth Savings Bank
4,100.00
Weymouth Savings Bank
2,000.00
U. S. Government Bonds
4,700.00
Total Fund December 31, 1945
$ 12,805.88
180
SUSAN HUNT STETSON FUND
Total Fund January 1, 1945 Interest 1945 Paid Tufts Library
$50.00
Total Fund in Weymouth Savings Bank December 31, 1945 $ 2,500.00
CHARLES Q. TIRRELL FUND
Total Fund January 1, 1945
$
1,000.00
Interest 1945 Paid Tufts Library $20.00
Total Fund in Weymouth Savings Bank December 31, 1945 $ 1,000.00
WALTER G. FORSYTHE FUND
Total Fund January 1, 1945
Interest 1945 Paid Tufts Library $20.00 $ 1,000.00
Total Fund in Weymouth Savings Bank December 31, 1945 $ 1,000.00
AUGUSTUS J. RICHARDS FUND
Total Fund January 1, 1945
$
5,000.00
Interest 1945 Paid Tufts Library
$182.52
Total Fund December 31, 1945
$ 5,000.00
INVESTMENT OF ABOVE FUND
South Weymouth Savings Bank
$ 1,500.00
Weymouth Savings Bank
2,000.00
U. S. Government Bonds 1,500.00
Total Fund December 31, 1945 $ 5,000.00
ARTHUR E. PRATT FUND
Total Fund January 1, 1945
Interest 1945 Paid Tufts Library $60.00 $ 3,000.00
Total Fund Weymouth Savings Bank December 31, 1945 $ 3,000.00
WILLIAM H. PRATT FUND
Total Fund January 1, 1945 $ 2,798.80
Interest 1945 Paid Tufts Library $55.96
Total Fund in East Weymouth Savings Bank December 31, 1945 $ 2,798.80
CHARLES HENRY PRATT FUND
Total Fund January 1, 1945 Interest 1945 Paid Tufts Library $10.00 $ 500.00
Total Fund in East Weymouth Savings Bank December 31, 1945 $ 500.00
181
$
2,500.00
ALIDA M. DENTON FUND
Total Fund January 1, 1945 $ 700.00
Interest 1945 Paid Tufts Library $14.00
Total Fund in East Weymouth Savings Bank December 31, 1945 $ 700.00
MARTHA HANNAH KING FUND
Income for care of Foye Family Graves
Total Fund January 1, 1945 Interest during 1945
$ 70.41
1.41
Total Fund in Weymouth Savings Bank December 31, 1945 $ 71.82
QUINCY TUFTS FUND FOR FREE PUBLIC LECTURES Bequest deposited in Massachusetts Hospital Life Insurance Co., Annuity in Trust G4746 $ 5,000.00
INCOME ACCOUNT OF ABOVE FUND
Interest received to January 1, 1945 $ 801.92
Interest 1945, Mass. Hospital Life Insurance Co.
100.00
Interest 1945 Weymouth Savings Bank 17.61
Total Fund Weymouth Savings Bank December 31, 1945 $ 919.53
QUINCY TUFTS FUND FOR CARE OF TUFTS FAMILY TOMB Bequest deposited in Massachusetts Hospital Life Insurance Co., Annuity in Trust G4747 $ 500.00
Interest 1945 Paid North Weymouth Cemetery Assn.
$10.00
Total Fund December 31, 1945 $ 500.00
QUINCY TUFTS FUND FOR SHADE TREES AND SIDEWALKS Bequest deposited in Massachusetts Hospital Life Insurance Co., Annuity in Trust G4748 $ 2,000.00
INCOME ACCOUNT OF ABOVE FUND
Interest received to January 1, 1945 $ 211.71
Interest 1945 Mass. Hospital Life Insurance Co.
40.00
Interest 1945 Weymouth Savings Bank
4.85
Total Fund Weymouth Savings Bank December 31, 1945 $ 256.56
QUINCY TUFTS FUND FOR MAINTENANCE OF READING ROOM Deposited in Massachusetts Hospital Life Insurance Co., Annuity in Trust G4746 $ 2,500.00
Interest 1945 Paid to Tufts Library $50.00
Total Fund December 31, 1945 $ 2,500.00
182
QUINCY TUFTS FUND FOR BOOKS FOR TUFTS LIBRARY Deposited in Massachusetts Hospital Life Insurance Co., Annuity in Trust G4746 Interest 1945 Paid to Tufts Library
$50.00 $ 2,500.00
Total Fund December 31, 1945
$
2,500.00
WEYMOUTH BACK RIVER BRIDGE FUND
Deposited in Massachusetts Hospital Life Insurance Co., Annuity in Trust A-023 Accumulated Interest 1923-1944
$ 3,000.00
2754.49
Interest 1945
115.09
Total in Fund December 31, 1945
$ 5,869.58
TOWN OF WEYMOUTH POST WAR REHABILITATION FUND
Total Invested Amount January 1, 1945
$400,000.00
Interest received to January 1, 1945
7,843.81
Interest received in 1945
10,040.44
Bonds bought in 1945
100,000.00
Total Fund December 31, 1945
$517,884.25
INVESTMENT OF THE ABOVE FUND
U. S. Treasury Bonds 2% 1951-53
$125,000.00
U.S. Treasury Bonds 21/2% 1964-69
125,000.00
U. S. Treasury Bonds 2% 1944-54
150,000.00
U.S. Treasury Bonds 21/2% 1957
100,000.00
East Weymouth Savings Bank, Income Account
17,884.25
Total Fund December 31, 1945
$517,884.25
Weymouth, Mass. January 30, 1946
I have audited the several accounts of the Treasurer of the Town of Weymouth and find all transactions duly recorded. The securities of the Town are as set forth in the Treasurer's report. Reconciliation of the state- ments submitted by the Granite Trust Company as well as the other town depositories, as of December 31, 1945, satisfy me that the Treasurer has accounted to the Town for all funds intrusted to him.
Emerson R. Dizer, Town Accountant.
REPORT OF THE PLANNING BOARD
Jan. 15, 1945
To the Honorable Board of Selectmen Town Hall
East Weymouth, Mass.
The Planning Board has held regular monthly meetings during the year and on March 19, 1945, in accordance with the vote of the Annual Town Meeting of 1944, also became the Board of Survey.
Board of Survey rules and regulations were drawn up, and after being approved by the Town Counsel were adopted and put in effect.
183
Hearings were held by the Board of Survey on three sub-divisions during the year. Two of the applicants appealed to the Board of Selectmen for modification and elimination of certain requirements. The Board of Select- men denied the appeals and the rules and regulations were carried out as specified.
The Board of Survey, after a further study of surrounding towns, modified the curb stone requirements and notified the three contractors of the change.
Creation of the position of Wire Inspector is strongly recommended and although the Town Meeting of 1945 voted "No Action" on an article to establish such a position, the Board believes a committee should be appointed to make further study and a report of their findings.
The Board has recommended to the Post War Planning Committee the building of an incinerator to take the place of the East Weymouth and Weymouth Landing Dumps. The proposed State highway may make it necessary to re-locate the Weymouth Landing Dump and we believe this is the time to take a forward step and eliminate forever all dumps in our town.
During the year of 1946 the Planning Board will hold meetings in the several precincts to discuss changes in the master plan. These meetings will be open to the public and notice will be given in advance so that all interested persons may attend. The Board is drawing up a long range planning pro- gramme and would appreciate any thoughts or ideas you, as citizens of the town, may have.
Respectfully submitted,
Walter B. Heffernan, Chairman.
REPORT OF THE TOWN COUNSEL
January 25, 1946
To the Honorable Board of Selectmen. .
Gentlemen :
I submit my annual report as Town Counsel for the year ending Decem- ber 31, 1945.
The year has passed without seeing the Town engaged in any new litiga- tion. A few matters of relative unimportance have been disposed of without the necessity of court action involving in the aggregate but a small sum of money. These matters, as is customary, grow out of alleged defects in the highways of the Town, and I suppose are unavoidable. It is pleasing to note that both the number and size of the claims have been diminishing.
The year has been a very busy one. There are few of the Town Depart- ments who have not sought solution of many of their problems, some of which are involved and difficult, by requesting legal aid in solving them. In a Town of our size many questions arise that call for almost immediate decision, and the department has kept itself available to handle them. Many employees likewise have been rendered assistance in carrying on the duties of their respective offices.
During the year the Town received $26,400.00 in full settlement of its claims against the Travelers Insurance Company, the Employers Liability Insurance Corporation and the U. S. Guaranty Company acting in behalf of the Granite Trust Company. This brings to a satisfactory financial conclusion this unfortunate episode, and Mr. William J. Holbrook, who has conducted this suit for the Town, is to be congratulated for this excellent result.
Once more may I express my appreciation for your unfailing support and my thanks for the many courtesies shown me by the officers and em- ployees with whom I so often have been in contact in conducting the Town's business.
Respectfully submitted,
Kenneth L. Nash
184
TABLE OF CONTENTS
Aid to Dependent Children
68
Alewive Fisheries
55
Animal Inspector
98
Assessors' Report
90
Auditor's Report
44
Board of Health
93
Board of Registrars
55
Building Inspector
69
Bureau of Old Age Assistance
. 68
Decennial Census
68
Dental Clinic
65
Electric Lighting Committee
74
Fire Department
70
Fire Alarm Supt.
90
Harbor Master's Report
94
Health Officer
93
Honor Roll Committee
97
Jury List
37
Jurors Drawn
42
Memorial Day Committee
66
Moth Supt.
96
Park Commissioner
95
Planning Board
183
Plumbing Inspector
73
Police Department
67
Post War Planning Committee
97
Price Control Board
94
Public Safety Committee
75
Public Welfare
55
Retirement System Report
176
Salvage Committee
69
School Department
99
Sealer of Weights and Measures
73
Sewerage System, special committee
56
Shell Fish Constable
94
Soldiers' Monument
72
Street Department
54
Tax Collector's Report
52
Town Accountant's Report
152
Town Clerk's Financial Report
42
Town Counsel's Report
184
Town Election
31
185
Town Engineer's Report
66
Town Infirmary's Report
65
Town Meeting, Warrant for
9
Town Meeting, Annual
16
Town Officials
3
Town Officials' Salaries
151
Town Treasurer's Report
178
Tree Warden
71
Tufts Library Report
77
Veterans' Affairs
72
Visiting Nurse Assn.
96
Vital Statistics, Summary of
37
Water Department
133
186
....
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