USA > Massachusetts > Middlesex County > Reading > Town of Reading Massachusetts annual report 1923 > Part 17
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$ 705.83 $ 705.83
SEWER ASSESSMENTS ON PROPERTY TAKEN
Dr.
Balance from 1922
$ 189.00
Cr.
Transferred from E. D. Account
$ 189.00
$ 189.00 $ 189.00
INTEREST
Appropriation
Dr.
Interest on Temporary Loans
$ 7,815.16
Interest on Municipal Building Loans
1,587.50
Interest on Sewer Loans
7,485.00
Interest on School Building Loans
780.00
Interest on Richardson Estate Loan
100.00
Interest on Brown Estate Loan
190.00
Interest on Playground Purchase
243.75
Interest on Library Building Balance
68.38
Total Payments
$ 18,269.79
Balance to Revenue
872.71
$ 19,142.50
$ 19,142.50
Cr.
$ 19,142.50
Dr.
271
TEMPORARY LOANS Anticipation of Revenue Cr.
$125,000.00
Notes Issued in 1923
Month .By whom purchased
Rate of disc
Amt.
Feb .- Chas. L. Edwardes & Co. . .
4.08
$25,000.00
Mar .- Chas. L. Edwardes & Co.
4.32
50,000.00
May-Chas. L. Edwardes & Co.
4.33
50,000.00
June-Chas. L. Edwardes & Co.
4.30
50,000.00
Sept .- Chas. L. Edwardes & Co.
. ..
4.40
25,000.00
Nov .- Chas. L. Edwardes & Co.
....
4.24
50,000.00
Dec .- Chas. L. Edwardes & Co.
. ...
4.24
50,000.00
Average rate of discount 4.30
$300,000.00
Notes Paid in 1923
June
$ 50,000.00
November
200,000.00
December
75,000.00
$325,000.00
Outstanding Dec. 31, 1923
$100,000.00
ACCOUNTING MUNICIPAL LOANS SEWER DEPARTMENT LOANS
Outstanding Jan. 1, 1923
$169,000.00
Paid in 1923
$ 4,000.00
Outstanding Dec. 31, 1923
165,000.00
$169,000.00
$169,000.00
WATER DEPARTMENT LOANS
Outstanding Jan. 1, 1923
$ 89,000.00
Paid in 1923
$ 12,000.00
Outstanding Dec. 31, 1923
$ 77,000.00
$ 89,000.00
$ 89,000.00
MUNICIPAL LIGHT DEPARTMENT LOANS
Outstanding Jan. 1, 1923
$146,900.00
Notes issued Dec., 1923
10,000.00
Paid in 1923
$ 15,800.00
Outstanding Dec. 31, 1923
141,100.00
$156,900.00 $156,900.00
-
Outstanding Jan. 1, 1923
. .
. ..
...
272
MUNICIPAL BUILDING LOANS
Outstanding Jan. 1, 1923
$ 30,000.00
Paid in 1923 Outstanding Dec. 31, 1923
$
2,000.00
28,000.00
$ 30,000.00
$ 30,000.00
MUNICIPAL AND LIBRARY BUILDING GROUNDS
Outstanding Jan. 1, 1923
$ 5,000.00
Paid in 1923
$ 500.00
Outstanding Dec. 31, 1923
4,500.00
$ 5,000.00 $ 5,000.00
BROWN ESTATE LOANS
Outstanding Jan. 1, 1923
$ 5,000.00
Paid in 1923
$ 500.00
Outstanding Dec. 31, 1923
4,500.00
$ 5,000.00 $ 5,000.00
SCHOOL BUILDING LOANS
Outstanding Jan. 1, 1923
$ 21,000.00
Paid in 1923
$ 5,000.00
Outstanding Dec. 31, 1923
16,000.00
$ 21,000.00
$ 21,000.00
RICHARDSON ESTATE LOANS
Outstanding Jan. 1, 1923
$ 2,500.00
Paid in 1923
$ 500.00
Outstanding Dec. 31, 1923
2,000.00
$ 2,500.00 $ 2,500.00
FUNDED DEBT Balancing Account
Total Debt, Jan. 1, 1923
$468,400.00
Mun. Light Dept. Notes issued in 1923
10,000.00
Playground Property Notes issued in 1923
7.500.00
Paid in 1923
Sewer Department Loans
$ 4,000.00
Water Department Loans
12,000.00
Light Department Loans
15,800.00
Municipal Building Loans
2,000.00
Municipal Building and Library Grounds Loans ..
500.00
273
Brown Estate Loans
School Building Loans
Richardson Estate Loans
500.00 5,000.00 500.00
Total Payments, 1923
$ 40,300.00
Total Debt Dec. 31, 1923
445,600.00
$485,900.00
$485,900.00
SPECIAL DEBT ACCOUNT FUNDED DEBT MATURING IN 1923 Cr.
Appropriation from Excess & Deficiency Account
$ 12,500.00
Transfer from Water Dept.
$ 12,000.00
Transfer from Light Dept.
15,800.00
Dr.
Payment of Loans due in 1923
$ 40,300.00
$ 40,300.00
$ 40,300.00
FUNDED DEBT MATURING IN 1924
Sewer Dept. Loans
$ 4,000.00
Water Dept. Loans
12,000.00
Light Dept. Loans
15,800.00
Municipal Building Loans
2,000.00
Municipal & Library Building Grounds Loans
500.00
Brown Estate Loans
500.00
Richardson Estate Loans
500.00
School Building Loans
5,000.00
Playground Property Note
2,500.00
Total
$ 42,800.00
-
TOWN DEBT
DETAIL OF PAYMENT BY YEARS
Year
Sewer
Dept.
Water
Dept.
Mun.
Light
Dept.
Mun.
Bldg.
Brown
Estate
Lib. and
Grounds
School
Dept.
Richardson
Wash'g'n St.
Ball Field
Playground
Property
Totals
1924
$ 4,000.00
$12,000.00
$15,800.00
$2,000.00
$500.00
$500.00
$5,000.00
$500.00
$2,500.00
$42,800.00
1925
12,000.00
12,000.00
13,800.00
2,000.00
500.00
500.00
5,000.00
500.00
2,500.00
48,800.00
1926
8,000.00
7,000.00
12,800.00
2,000.00
500.00
500.00
1,000.00
500.00
2,500.00
34,800.00
1927
8,000.00
7,000.00
12,800.00
2,000.00
500.00
500.00
1,000.00
500.00
32,300.00
1928
8,000.00
7,000.00
12,800.00
2,000.00
500.00
500.00
1,000.00
31,800.00
1929
8,000.00
7,000.00
11,800.00
2,000.00
500.00
500.00
1,000.00
30,800.00
1930
8,000.00
7,000.00
10,800.00
2,000.00
500.00
500.00
1,000.00
29,800.00
1931
8,000.00
2,000.00
9,000.00
2,000.00
500.00
500.00
1,000.00
23,000.00
1932
8,000.00
2,000.00
9,000.00
2,000.00
500.00
500.00
22,000.00
1933
8,000.00
2,000.00
8,000.00
2,000.00
20,000.00
1934
7,000.00
2,000.00
6,000.00
2,000.00
17,000.00
1935
6,000.00
2,000.00
6,000.00
2,000.00
16,000.00
1936
6,000.00
2,000.00
4,000.00
2,000.00
14,000.00
1937
6,000.00
1,000.00
2,500.00
2,000.00
11,500.00
1938
6,000.00
1,000.00
2,500.00
9,500.00
1939
6,000.00
1,000.00
2,500.00
9,500.00
1940
6,000.00
1,000.00
1,000.00
8,000.00
1941
6,000.00
1,000.00
7,000.00
1942
6,000.00
1,000.00
7,000.00
1943
6,000.00
6,000.00
1944
6,000.00
6,000.00
1945
6,000.00
6,000.00
1946
6,000.00
6,000.00
1947
2,000.00
2,000.00
1948
2,000.00
2,000.00
1949
2,000.00
2,000.00
Totals
$165,000.00
$77,000.00
$141,100.00
$28,000.00
$4,500.00
$4,500.00
$16,000.00
$2,000.00 |$7,500.00
$445,600.00
Mun. Bldg.
Estate
275
BORROWING CAPACITY
Total Valuation Abatement Net Valuation
1921
$ 9,513,847.00
$88,769.00
$ 9,425,078.00
1922
9,860,206.00 82,140.00
9,778,066.00
1923
10,410,283.00 51,021.00 10,359,262.00
Average net valuation 3 years, $9,854,135.00.
Note :- Indebtedness of towns limited to three per cent of valuation of three preceding years (Chap. 44, Sec. 10, G. L.).
Three per cent is
$295,624.00
Total Debt
$445,600.00
Exempted Loans:
Water Dept. $ 77,000.00
Light Dept. 141,100.00
Sewer Dept.
165,000.000
$383,100 00 $ 62,500.00
Borrowing Capacity, Dec. 31, 1923
$233,124.00
Increase over 1922 12,653.00
TRUST FUND, CASH AND SECURITIES
On hand Jan. 1, 1923, Bonds
$ 25,000.00
Cash, Mechanics Savings Bank
4,505.48
Deposit, Mechanics Savings Bank, Library Trust Fund 100.00
Deposits, Mechanics Savings Bank,
Cemetery Bequests for Perpetual Care 2,950.00
Deposits, Mechanics Savings Bank,
Interest on Bonds 1,058.79
Interest on Savings Bank Deposits 265.93
$ 33,880.20
Less Bonds Matured $ 1,500.00
Withdrawn from Mechanics Savings Bank,
for Cemetery Funds $ 1,152.19 $ 2,652.19
$ 31,228.10
Deposit, Mechanics Savings Bank, am't Matured Bonds 1,500.00
On hand Dec. 31, 1923
Bonds, per list below
$ 23,500.00
Cash, Mechanics Savings Bank,
per pass books 9,228.01
$ 32,728.01
$ 32,728.01
276
CEMETERY BEQUEST FUND For Perpetual Care
On hand Jan. 1, 1923, Bonds
$ 25,000.00
Cash, Mechanics Savings Bank
4,438.92
Deposits, Mechanics Savings Bank, Interest on Bonds
1,058.79
Interest on deposit, Mech. Sav. Bank
260.87
Bequests 1923
Amounts
Bertha G. Temple
$ 100.00
Henry T. Leavis
100.00
Edith A. Tipper
100.00
Cora J. Jaquith
100.00
Horace Brown
100.00
M. Elma Pierce
100.00
Adolph S. Larson
100.00
Elmer J. Brown
100.00
Hazen K. Symonds
100.00
Nellie A. Richardson
100.00
Harriett E. Richardson
100.00
Arthur N. Mansfield
100.00
Grace E. Shepardson
50.00
G. G. Clouse
75.00
W. E. & J. F. Twombly
100.00
Susan G. Putnam
100.00
Mary C. Richardson
100.00
Mrs. Arthur O. Fuller
100.00
Carl M. Spencer
100.00
E. L. Wright, Tr.
100.00
Arthur H. Cook
25.00
Edith M. Martin
100.00
Eliza Talbot
100.00
Lucy Mack Est.
100.00
Alden S. Johnson
50.00
Frank A. Colby
100.00
Louise B. Jenkins
100.00
Grace L. Twombly
100.00
George W. Davis
50.00
Mary A. Lowell
50.00
Carl O. Carlson
50.00
J. A. Gatz
100.00
H. E. Cummings
100.00
$ 2,950.00
$ 33,708.58
277
Less Bonds matured $ 1,500.00 Withdrawn from Mechanics Savings
Bank, for Cemetery Fund $ 1,152.19 2,652.19
$ 31,056.39
Deposit Mechanics Savings Bank amount of Matured Bonds
$ 1,500.00
On hand Dec. 31, 1923 Bonds per list
$ 23,500.00
Cash, Mechanics Savings Bank,
per pass book 9,056.39
$ 32,556.39 $ 32,556.39
LAUREL HILL CEMETERY-BEQUEST FUND
$9,000 U. S. Liberty, 414 Oct. 15, 1938, purchased 10-15-18 to yield about 4.25% at 100
$3,000 U. S. Liberty, 414 Oct. 15, 1938, purchased 7-19-21 to yield about 5.39% at 87.00
$ 700 U. S. Liberty, 414 Sept. 15, 1928, purchased 2-8-19 to yield about 4.92% at 95.02
$2,000 U. S. Liberty, 41/4 Sept. 15, 1928, purchased 7-26-19 to yield about 4.94% at 95.04
$2,100 U. S. Liberty, 41/4 Sept. 15, 1928, purchased 2-14-20 to yield about 5.21% at 93.44
$ 500 U. S. Liberty, 414 Sept. 15, 1928, purchased 4-26-20 to yield about 5.70% at 90.60
$ 500 U. S. Liberty, 414 Sept. 15, 1928, purchased 4-26-20 to yield about 5.71% at 90.76
$2,200 U. S. Liberty 414 Sept. 15, 1928, purchased 7-19-20 to yield about 6.06% at 88.58
$1,800 U. S. Liberty, 41/4 Sept. 15, 1928, purchased 11-22-20 to yield about 6.07% at 88.76
$ 700 U. S. Liberty, 414 Sept. 15, 1928, purchased 2-8-21 to yield about 5.90% at 90.10
$1,000 U. S. Liberty, 414 Sept. 15, 1928, purchased 4-17-21 to yield about 5.76% at 90.84 $9,056.39, Mechanics Savings Bank, on Deposit, to yield about 5.00% Average yield 5.03%
GEO F. BUCK FUND
On hand Jan. 1, 1923, Mechanics Savings Bank. . $ 66.56
Interest 1923
3.18
Ón hand Dec. 31, 1923 per pass book
$ 69.74
$ 69.74 $ 69.74
278
PUBLIC LIBRARY FUND
Deposited Mechanics Savings Bank, B. L. Faben's legacy
$ 100.00
Interest 1923
1.88
On hand Dec. 31, 1923, per pass book
$ 101.88
$ 101.88
$ 101.88
UNPAID BILLS, DEC. 31, 1923
Selectmen's Expenses:
W. E. & J. F. Twombly
$ 12.25
Clyde M. Simonds
2.50
$ 12.75
Town Clerk's Expenses:
W. E. & J. F. Twombly
$ 4.00
Edgerly & Bessom
15.50
$ 19.50
Election Expenses :
Security Lodge, I. O. O. F.
$ 15.00
Board of Health:
W. E. & J. F. Twombly
$ 3.04
American Ry. Exp. Co.
2.45
$ 5.49
Poor Department :
Mass. State Prison
$ 1.57
Comm. of Mass. Div. of
Child Guardianship
40.00
Edgerly & Bessom
15.00
Clyde M. Simonds
10.00
$ 66.57
Poor Dept., Board and Care: W. H. Willis
$ 10.15
School Department:
F. M. Crosby
$ 6.50
Eastern Mass. St. Ry. Co.
275.00
Jennie Mackie
1.80
T. C. Fife
548.28
Stewart & Robertson
1,117.79
W. E. & J. F. Twombly
141.50
Zanni & Co.
49.39
- -
$ 2,140.26
$ 2,269.72
TOWN OF READING BALANCE SHEET DEC. 31, 1923 GENERAL ACCOUNTS
Cash in Banks and Office
$ 31,958.91
Temporary Loans
$100,000.00
Taxes and Assessments Receivable:
Overlays Received for Abatements:
Taxes, 1920
$ 249.33
For 1920 Taxes
$ 249.33
Taxes, 1921
229.39
For 1921 Taxes
229.39
Taxes, 1922
1,824.45
For 1923 Taxes 3,625.10
4,013.82
Moth, 1923
409.50
Overlay Reserve Fund
427.26
Sewer Asst. Appor'n, 1923
733.81
Moth Assessments, Revenue
409.50
Sewer Asst. Appor'n., Interest .
322.46
Sewer Assessments, Revenue
1,145.62
Sewer Asst. Unappor'n
80.35
Sewer Rentals, Revenue
51.00
Sewer Rentals
51.00
Sidewalk Assessments, Revenue
43.40
Sewer Asst. Revenue due in 1924 1,970.95
Sewer Asst. Revenue due in 1925
1,882.63
Sewer Asst. Revenue due in 1926 1,665.95
Sewer Asst. Revenue due in 1927 ..
1,249.52
Sewer Asst. Revenue due in 1928
1,199.44
Sewer Asst. Revenue due in 1929
1,199.44
Town of Wilmington, Tuition . .
62.11
Sewer Asst. Revenue due in 1930 .
1,199.44
Sewer Asst. Revenue due in 1931
1,199.92
City of Boston, Tuition 1,320.01 · Comm. of Mass., Tuition 704.20
U. S. Veterans Bureau, Tuition .. 1,080.85
109,839.21
Departmental Accounts Receivable :
Comm. of Mass., Mothers' Aid 1,609.42
Comm. of Mass., Temporary Aid .
1,912.05
Comm. of Mass., State Aid 384.00
City of Melrose, Tuition
186.33
Departmental Accounts Rec., Revenue Water Dept. Account Rec., Revenue
11,567.29 10,655.52 211.49
Taxes, 1923
105,886.52
Sidewalk Assessments
43.40
...
BALANCE SHEET (Continued)
Town of Tewksbury, Tuition . 62.11
Municipal Light Dept. Account Rec., Revenue
21,918.28
Sundry Paries, Board of Health
537.50
Moth Bills, 1923
1,681.25
Mun. Light Dept. Maint. Account
999.50
Sundry Parties, Cemetery Dept. 700.36
Sewer Dept. Maint. & Const. Acct. 11,436.88
Sundry Parties, Sealer W. & M.
23.03
Sewer Dept. House Connections Acct. 1,195.70
Sundry Parties, Fire Dept. ....
50.00
Cemetery Reserve Fund
1,458.83
Sundry Parties, Misc. Accts. .... 142.00
Insurance Account, Special Acct. 20.99
Sundry Parties, Highway Dept. 69.30
Sewer Investment Account
4.94
10,655.52
Appropriation balances forward to 1924:
Sewer Ass't Appor'n Rec. 1924-1931
11,567.29
Block System Survey 33.66
Water Dept. Accounts Rec.
211.49
South Street Repairs 538.08
Municipal Light Dept. Accounts Rec.
21,918.28
Forest Street Repairs
307.54
Tax Titles held by Town
3,958.04
North Main Street Sidewalk
175.06
Overlay Account, 1922, Overdraft . 41.25
Drainage System Survey
1,000.00
Insurance Account, Overdraft
469.32
2,054.34
Poor Dept. Account, Overdraft .
1,184.95
Tax Titles Revenue
3,958.04
Mothers' Aid Account, Overdraft
346.56
Smith-Hughes Fund
165.10
Temporary Aid Account, Overdraft 109.05
Reserve Fund
16.50
Industrial Tuition Acct., Overdraft
308.36
Excess & Deficiency Account
18,938.56
2,459.49
Municipal Light Dept. balance loan
700.00
$193,268.23
$193,268.23
Sundry Parties, Tuition
131.00
Water Dept. Maint. Account 2,485.67
Net Funded Debt
$445,600.00
Sewer Construction Loans
$165,000.00
Water Department Loans
77,000.00
Municipal Light Department Loans
141,100.00
Municipal Building Loans
28,000.00
Mun. Building & Library Gds. Loans
4,500.00
Brown Estate Loan
4,500.00
School Building Loans
16,000.00
Richardson Estate Loans
2,000.00
Playground Purchase Notes
7,500.00
$445,600.00
$445,600.00
$445,600.00
TRUST FUNDS
32,728.01
Cemetery Bequest Fund for Per-
petual Care
$ 32,556.39
George F. Buck Fund
69.74
Public Library Fund
101.88
32,728.01
$ 32,728.01
$ 32,728.01
Trust Funds, Cash and Securities ..
DEBT ACCOUNTS
Twenty-ninth Annual Report OF THE
Electric Light Commissioners For the Year Ending December 31 1923
283
OFFICERS OF THE ELECTRIC LIGHT AND POWER DEPARTMENT
Commissioners
WILLIAM G. LONG, Chairman
Term expires 1926
HERBERT G. EVANS, Secretary
Term expires 1924
HARRY P. BAKER
Term expires 1925
Manager ARTHUR G. SIAS
Office
MUNICIPAL BUILDING
284
MANAGER'S REPORT
To the Municipal Light Board :
Gentlemen :- I respectfully submit herewith my report of the opera- tion of the Municipal Light Plant for the year ending December 31, 1923.
The financial part of the report is arranged in accordance with the classification of accounts as prescribed by the Department of Public Utilities, and is followed by my comments on the year's business, the estimate for 1924, and statistical data pertaining to the plant.
Electric Operating Revenues
Metered Sales to Private Consumers:
Lighting
$ 91,518.13
Power
29,945.76
Cooking & Heating
12,435.91
$133,899.80
Flat Rate Sales to Private Consumers:
Private Street Lights
$ 315.23
Municipal Revenues :
Street Lighting, Reading
$ 14,800.00
Street Lighting, Lynnfield Centre
1,741.55
Street Lighting, North Reading
3,714.12
Street Lighting, Wilmington
7,533.00
Municipal Lighting, Reading
2,075.47
Municipal Power, Reading
2,508.83
Power sold to Wakefield
60.86
Power sold to Lowell Elect. Lt. Corp.
134.46
$ 32,568.29
Total Revenue from Sales of Electric Energy
$166,783.32
Rent from Property Used in Operation :
Rental of Pole Lines
464.31
Total Electric Operating Revenues . .
$167,247.63
OPERATING EXPENSES-ELECTRIC Production
Operation :
Superintendance and Labor $ 17,424.86
Boiler Fuel
40,920.54
285
Water for Steam
216.16
Lubricants
126.78
Station Supplies and Expenses
730.41
$ 59,418.75
Maintenance :
Maintenance of Station Structures $ 695.04
Maintenance of Boiler Plant Equipment 1,359.07
Maintenance of Turbo-Generator Units . .
811.17
Maintenance of Electric Generating Equip. 174.18
Maintenance of Accessory Electric Equip. 157.29
Maint. of Misc. Power Plant Equip.
. .
4.07
$
3,200.82
Electric Energy Purchased
113.26
Total Production Expenses
$ 62,732.83
Transmission, Distribution and Storage
Operation :
Operation of Transmission and Dis-
tribution Lines
$ 3,689.28
Transmission and Distribution Supplies and Expenses
872.82
Inspecting and Testing Meters
1,015.62
Removing and Resetting Meters
519.69
Removing and Resetting Transformers
652.66
$ 6,750.07
Maintenance:
Maintenance of Transmission and Dis-
tribution Lines $ 8,897.55
Maintenance of Consumers' Meters
352.20
Maintenance of Transformers
287.78 $ 9,537.53
Total Transmission, Distribution and
Storage Expenses
$ 16,287.60
Utilization
Operation :
Municipal Street Lamps, Labor $ 837.81
Municipal Street Lamps, Supplies & Exp. 1,336.86 $ 2,174.67
Maintenance :
Maintenance of Municipal Street Lamps .. $ 228.23
Maintenance of Commerc'l Lighting Equip. 2.06
Maintenance of Consumers' Installations .
1,554.98
1,785.27
Total Utilization Expenses $ 3,959.94
286
Commercial
Commercial Salaries
$
6,176.52
Commercial Supplies and Expenses
1,985.05
Total Commercial Expenses
$
8,161.57
New Business
New Business Salaries
$ 1,517.87
New Business Supplies and Expenses
33.72
Advertising
556.70
Wiring and Appliances
24.27
Total New Business Expenses $ 2,132.56
General and Miscellaneous
Salaries of Municipal Light Board and Manager
$ 3,524.92
Salaries of General Office Clerks
2,397.78
General Office Supplies and Expenses
1,099.71
Law Expense, General
29.00
Insurance
5,287.46
Accidents and Damages
.40
Store Expenses
246.35
Transportation Expenses
1,664.46
Inventory Adjustments
988.12
Depreciation
19,011.08
Miscellaneous General Expenses
368.91
Total General and Miscellaneous Expenses
$ 34,618.19
Grand Total Operating Expenses
$127,892.69
Income Statement for the Year
Operating Income:
Operating Revenues
$167,247.63
Operating Expenses
127,892.69
Net Operating Revenue
$ 39,354.94
Uncollectible Operating Revenues
$ 722.91
Taxes Assignable to Electric Operations
514.50
1,237.41
Net Operating Income
$ 38,117.53
Non-Operating Income :
Merchandise and Jobbing Revenue
$ 6,810.93
Total Non-Operating Income
$ 6,810.93
Gross Income
$ 31,306.60
287
Deductions from Gross Income: Interest on Bonds and Notes
$ 6,437.28
Total Deductions from Gross Income
$ 6,437.28
Income Balance trans. to Profit and Loss . . $ 24,869.32
Profit and Loss Statement
Credit Balance at Beginning of Fiscal Period ..
$ 11,441.13
Credit Balance Transferred from Income Acct.
24,869.32
Other Deductions from Surplus (Bonds and Notes Paid) $ 15,800.00
Balance carried forward to Bal. Sheet
20,510.45
Total
$ 36,310.45
$ 36,310.45
COMPARATIVE GENERAL BALANCE SHEET
ASSETS Investments
Balance at
Balance at
Beginning of
year
$344,670.95
Plant Investment
$353,790.39
$ 9,119.44
3,781.50
General Equipment
5,137.00
1,355.50
$348,452.45
Total Investments
$358,927.39
$ 10,474.94
$
153.45
Cash
$ 999.50
846.05
872.85
Special Deposits
963.87
91.02
18,071.12
Accounts Receivable
21,918.28
3,847.16
26,403.34
Materials and Supplies
31,917.11
5,513.77
$ 45,500.76
Total Current Assets
$ 55,798.76
$ 10,298.00
Prepaid Accounts
$ 2,697.36
Prepaid Insurance
$ 3,472.41
$ 775.05
$ 2,697.36
Total Prepaid Accounts
$ 3,472.41
$ 775.05
$396,650.57
Grand Total
$418,198.56
$ 21,547.99
Close of year
Net change
Current Assets
288
COMPARATIVE GENERAL BALANCE SHEET Liabilities
Balance at Beginning of year
Balance at Close of
Net
year
change
Appropriation
$ 30,678.26 Appropriations for Construction
$ 30,678.26
Bonds and Notes Payable
$133,000.00
Bonds
$119,000.00
$ 14,000.00
13,900.00
Notes Payable
22,100.00
8,200.00
$146,900.00
Total Bonds and Notes Payable
$141,100.00
$ 5,800.00
Current Liabilities
$ 16,097.29
Accounts Payable
$ 17,936.41 $
1,839.12
872.05
Consumers' Deposits
963.07
91.02
$ 16,969.34
Total Current Liabilities
$ 18,899.48
$ 1,930.14
Accrued Liabilities
$ 1,661.84
Interest Accrued
$ 1,510.37
$ 151.47
Town Treasurer, Loan
700.00
700.00
$ 1,661.84
Total Accrued Liabilities
$ 2,210.37
$ 548.53
Appropriated Surplus
$189,000.00
Loans Repayment
$204,800.00
$ 15,800.00
$189,000.00
Total Appropriated Surplus
$204,800.00
$ 15,800.00
Profit and Loss
$ 11,441.13
Profit and Loss, Balance
$ 20,510.45
$ 9,069.32
$396,650.57
Grand Total
$418,198.56
$ 21,547.99
PLANT INVESTMENT ACCOUNTS-ELECTRIC
Balance at Additions Depreciation during
other credits
at close
Beginning of year
year
during year
of year
Plant Investment
Land
$ 2,575.80
$ 2,575.80
Structures
20,658.81
$ 10.48
20,669.29
Boiler Plant Equipment
41,966.73
35.63
$ 2,518.00
39,484.36
Prime Movers and Aux-
iliaries
20,230.32
1,213.82
19,016.50
Balance
289
Turbo Generator Units
31,547.66
1,892.86
29,654.80
Electric Plant, Steam
21,416.02
50.40
1,284.96
20,181.46
Poles, Fixtures and Over-
head Conductors
133,337.54
16,569.28
8,000.25
141,906.57
Consumers' Meters
27,505.60
5,176.54
1,100.23
31,581.91
Consumers' Meter Instal- lation
3,745.24
544.50
224.72
4,065.02
Line Transformers
25,669.08
5,215.89
1,155.11
29,729.86
Transformer Installation
3,392.92
270.00
203.58
3,459.34
Street Lighting Equipment 12,625.23
257.80
1,417.55
11,465.48
Total Plant Investment $344,670.95
$ 28,130.52
$ 19,011.08
$353,790.39
General Equipment
Office Equipment
$ 1,981.50
$ 405.50
$ 2,387.00
Transportation Equip.
1,800.00
950.00
2,750.00
Total General Equipment $ 3,781.50 $ 1,355.50
$ 5,137.00
Total Cost of all Prop'ty $348,452.45
$ 29,486.02
$ 19,011.08
$358,927.39
TOTAL COST OF PLANT
Cost of Land
$ 2,575.80
Cost of Structures
27,298.94
$ 29,874.74
Generating Plant, Steam :
Cost of Boiler Plant Equipment
$ 63,627.53
Cost of Prime Movers and Auxiliaries 29,013.38
Cost of Turbo-Generator Units
46,870.83
Cost of Electric Pant, Steam
30,424.33
$169,936.07
Transmission, Distribution and Storage:
Cost of Poles, Fixtures and
Overhead Conductors
$192,795.36
Cost of Consumers' Meters
42,830.58
Cost of Consumers' Meter Installation
5,385.56
Cost of Line Transformers
40,551.65
Cost of Transformers Installation
4,729.40
$286,292.55
Utilization Equipment :
Cost of Street Lighting Equipment $ 19,879.92
$ 19,879.92
Total Cost of Electric Plant as shown by the books
$505,983.28
290
CASH BALANCES AT CLOSE OF YEAR
Construction Fund $ 999.50
Depreciation Fund Account DEBITS
Balance of account at beginning of year
Amount transferred from income $ 19,011.08
Total
$ 19,011.08
CREDITS
Amount expended for construction pur. . $ 19,011.08
Balance on hand at close of year
Materials and Supplies
Coal
$ 7,809.24
Oil
97.87
Electrical Appliances
9,421 79
Miscellaneous Materials and Supplies
14,588.21
Total
$ 31,917.11
Construction Fund DEBIT
Balance at beginning of year
$ 153.45
Transferred from Depreciation Fund
19,011.08
Construction sold during year
2,705.70
Appropriation
10,000.00
Total Debits
$ 31,870.23
CREDIT
Amount expended for Additions and Ext. $ 30,870.73
Balance at end of year 999.50
Total Credits $ 31,870.23
Operation Fund DEBIT
Balance at beginning of year
Received from Sale of Electricty $151,239.49
Received from Aprop. for Street Lights 14,800.00
Received from Misc. Items
31,483.13
Total Debits
$197,522.62
291
CREDIT
Expenditures for Operating Accounts
$156,274.26
Bonds Paid
11,000.00
Notes Paid
4,800.00
Interest Paid
6,437.28
Amount Trans. to Depreciation Fund
19,011.08
Total Credits
$197,522.62
The business for 1923 shows a substantial gain over 1922.
The kilowatt hours generated increased 16.5% and the kilowatt hours sold increased 26.3%.
The kilowatt hours lost and unaccounted for was 6.3% less than last year, the loss being 15.3%.
The kilowatt hours sold for lighting increased 16%, for power 37.1% and for cooking, heating and battery charging 51.6%.
. The increase in kilowatt hours sold in theseveral towns was: Reading 27%, North Reading 22.3%, Wilmington 24.6% and Lynnfield Center 29,5 % .
The income from sale of current shows an increase of 7.3%, the increase in each town being as follows: Reading 7.1%, North Reading 6.6%, Wilmington 7.7%, and Lynnfield Center 10%.
The operating expenses show an increase of 10.1% as compared with an increase of 26.3% in current sold.
The net amount of Bonds and Notes outstanding is $141,100.00 which is a reduction of $5,800.00 from last year.
The inventory of supplies on hand shows an increase of $6,869.27.
The accounts receivable show a gain of $3,847.16 and accounts payable $1,799.12.
The Profit and Loss surplus has been increased by $9,069.32 and is now $20,510.45.
The cost of manufacturing at the power station was 2.05 cents per kilowatt hours or about 14.6% less than last year.
The average total cost per kilowatt hour as defined by statute was 6.15 cents as compared with 8.4 cents in 1922, a decrease of 26.8% .
The Center Street Light Circuit has been operated 3970 hours, and the remaining circuits 3417 hours. The North Reading and Lynnfield Center Street Light Circuits have been operated 1733 hours and the Wilmington Street Light Circuit 2138 hours.
The number of each size of street lamps renewed during the year was 1946-40 c. p., 1057-60 c. p., 24-100 c. p., 208-250 c.p., and 49-600 c. p.
We have installed the following new street lights during the year: Reading-4 public and 3 private; North Reading -- 7 public; and Wil- mington-2 private lights.
292
The increase in the number of customers was 432 apportioned among the towns as follows: Reading 230, North Reading 59, Wilmington 103, and Lynnfield Center 40.
The greatest load on the power station during the year was 940 kilo- watts, an increase of 110 kilowatts over 1922.
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