USA > Massachusetts > Middlesex County > Reading > Town of Reading Massachusetts annual report 1923 > Part 18
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Repairs have been made to the coal trestle costing $504.88.
Material has been purchased for a new service pipe for the station water supply and it is being installed by the Water Department. This will give us a hose connection in the power station for use in case of fire.
The Water Department has also installed a new hydrant on Ash Street within 200 feet of the power station, which, I understand, will enable us to obtain a reduction in the fire insurance rate.
We have built a brick oil room in the basement of the power station and have covered the doors and casings between the boiler room and en- gine room with metal in order to effect a further reduction in the cost of fire insurance.
LAMP AND APPLIANCE DEPARTMENT
The business done by this department has very materially increased, the total value of lamps and appliances sold being $28,488.23.
The following appliances have been sold: 81 ranges, 13 water heaters, 17 motors, 28 motor-driven pumps, 9 washing machines, 4 sewing ma- chines, 48 radiators, 10 waffle irons, 12 table stoves, 62 flat irons, 4 perco- lators, 34 reading lamps, 20 toasters, 60 vacuum cleaners, 6 hot plates, 2 Violet Ray outfits, 4 vibrators, 5 sewing machine motors, 14 curling irons, 9 heating pads, 4 Christmas tree sets, 3 battery chargers, 2 storage bat- teries, 1 electric drill, 2 dishwashers, 4 refrigerating outfits, 19 fans, 2 air pumps, 2 blowers, 1 hair-dryer, and 2 fireless cookers.
NEW BUSINESS
An aggressive effort has been made during the past year to secure additional revenue from customers on existing lines, and particularly to popularize the use of our service for cooking, water heating, and re- frigeration, and as a special inducement to customers on our lines, we offered to install, without charge for wiring, any ranges or water heaters purchased before July 1st. We secured the co-operation of Clapp & Leach and J. M. Maxwell, Jr., & Son, and arranged for an Electric Show in Security Hall on April 3rd and 4th. It was very successful as was attested by the crowd which filled the hall on both days, to learn more about the various uses of electricity in the home. This gave our new business campaign a good start and as a result of persistent follow-up work, we have connected during the year 144 electric ranges and 26 water heaters, and our revenue from this class of business has increased from $8,213.43 in 1922 to $12,435.91 in 1923. The net loss in Merchandise and Jobbing Revenue was $6,810.93, which averages $45.71 for each installation.
293
The reduction of 2 cents per kilowatt hour in the lighting rates which went into effect March 1st, has resulted in a saving to customers of ap- proximately $11,800.00, but notwithstanding this the gain in operating was over $9,000.00 for the year.
I recommend a further reduction in the lighting rates of 1 cent per kilowatt hour to take effect March 1, 1924.
I recommend also that all street lights in Reading be lighted all night and every night instead of simply those in the center of the town as at present, as there are many dark streets outside of the center, even on moonlight nights, and I believe that the citizens who live outside the radius covered by the center street light circuit are entitled to better street-lighting service.
My estimate for 1924 is herewith submitted and is followed by sta- tistical data from the office records, and a list of bills remaining unpaid.
ESTIMATE FOR 1924
Expenses
For operation, maintenance and repairs $118,674.50
For interest on bonds and notes 6,343.00
For depreciation (4% on $503,407.48) 20,136.30
For bond payments 11,500.00
For note payments 4,300.00
For taxes
600.00
For uncollectible operating revenues 900.00
Total Expenses
$162,453.80
Income
From sales to private consumers $155,598.50
From sundry items
450.00
From tax levy (at average cost per K. W. H. as defined by statute) :
For Street Lights $12,000.00
For Municipal Buildings
1,820.00 13,820.00
Total Income
$169,868.50
Respectfully submitted, ARTHUR G. SIAS, Manager.
The Manager's report, as herewith submitted, is approved.
WILLIAM G. LONG, HERBERT G. EVANS, HARRY P. BAKER,
Municipal Light Board.
294
DATA FROM RECORDS OF PLANT
Kilowatt hours purchased
3,520
Kilowatt hours manufactured
3,039,677
Kilowatt hours for Reading Street Lights 183,935
Kilowatt hours sold 2,046,848
Kilowatt hours used at station and office
342,189
Kilowatt hours unaccounted for
470,225
Coal used, net tons
4,577.7
Average cost of coal per net ton
$8.94
Poles added
121
Feet of wire added
238,938
Motors connected
63
New services installed
357
Street lanıps installed
16
Connected Load December 31, 1923
Number of customers
3,666
Horse power in motors
1,367.5
Number of public street lights
1,474
Number of private street lights
20
Reading
Number of customers December 31, 1923 2,256
Number of 40 candle power public street lights
3
Number of 60 candle power public street lights
483
Number of 100 candle power public street lights
16
Number of 250 candle power public street lights
59
Number of 600 candle power public street lights
25
Number of 60 candle power private street lights
6
Number of 250 candle power private street lights
1
Horse power in motors
1,071.2
Earnings for year
$113,986.64
Lynnfield Center Extension
Number of customers December 31, 1923 261
Number of 40 candle power public street lights
128
Number of 40 candle power private street lights
3
Horse power in motors
40.5
Earnings for year .$ 8,681.55
North Reading Extension
Number of customers December 31, 1923 363
Number of 40 candle power public street lights 277
Number of 40 candle power private street lights
3
Horse power in motors 164.4
Earning for year $ 16,484.70
295
Wilmington Extension
Number of customers December 31, 1923
786
Number of 40 candle power public street lights 486
Number of 40 candle power private street lights 7
Horse power in motors
91.4
Earnings for year
$ 27,706.45
COST OF DISTRIBUTION SYSTEM IN OUTSIDE TOWNS Lynnfield
Total investment to December 31, 1923:
Poles, Fixtures and Overhead Conductors $ 16,442.14
Consumers' Meters 2,733.32
Line Transformers
2,297.88
Street Lighting Equipment
1,234.88
$ 22,708.22
North Reading
Total investment to December 31, 1923 :
Poles, Fixtures and Overhead Conductors
$ 36,474.40
Consumers' Meters
3,953.70
Line Transformers
4,404.48
Street Lighting Equipment
2,151.98
$ 46,984.56
Wilmington
total investment to December 31, 1923 :
Poles, Fixtures and Overhead Conductors
$ 63,716.95
Consumers' Meters
6,139.85
Line Transformers
5,863.42
Street Lighting Equipment
3,290.52
$ 79,010.74
Total Investment-Outside Towns
148,703.52
Total Income-Outside Towns, 1923
52,872.70
Earnings from Light and Power-5 Years
1919
1920
1921
1922
1923
Light
$ 86,221.78
$ 92,850.17
$107,342.66
$119,815.79
$121,697.50
Power
29,072.32
33,301.94
28,544.03
35,689.35
45,085.82
$115,294.10
$126,152.11
$135,886.69
$155.505.14
$166,783.32
Note The above table includes the income from the appropria- tion for street lights and Municipal Buildings.
TABLE A
Year
Income from
Sale of
Electricity
Income from Other Sources
Appropriations
from Tax Levy
Maintenance
Appropriations
from Tax Levy
Construction
Manufacturing
Distribution
and Utilization
Expense
Miscellaneous
Expense
Interest
Depreciation
Bond and
Total Cost
of Plant
December 31
1910
$25,668.87
$604.88
$10,000.00
$270.00
$13,228.57
$3,271.76 $4,429.32 $2,535.75 $3,556.00 $4,000.00 $135,992.62
1911
31,317.40
410.77
5,800.00
1,000.00
13,066.25
6,353.77
5,753.84
2,767.00
4,079.78
4,500.00
144,714.06
1912
37,171.93
599.07
5,000.00
5,500.00
17,546.87
5,605.41
5,605.18
3,018.21
4,143.80
7,200.00
173,091.96
1913
44,664.70
671.87
6,000.00
5,076.19
20,054.99
10,705.42
10,214.88
3,515.40
4,788.80
6,800.00
202,518.81
1914
49,799.75
791.14
4,500.00
4,132.07
19,014.03
7,784,82
8,697.05
4,453.33
6,051.08
9,000.00
233,509.58
1915
51,603.32
640.25
10,500.00
none
18,292.78
10,329.83
7,730.32
4,640.42
6,972.28
9,500.00
254,349.09
1916
61,900.01
911.69
5,000.00
none
22,261.19
13,986.22
8,316.39
4,704.99
7,597.47
10,800.00
269,898.27
1917
67,593.64
2,422.92
8,750.00
none
30,460.16
14,557.81 11,577.08
5,070.43
8,096.95
11,300.00
285,428.29
1918
78,096.09
1,537.86
11,000.00
none
41,006.13
13,572.51 11,311.54
6,882.24
8,529.85
14,800.00
348,871.08
1919
100,844.10
1,100.11
14,450.00
none
45,006.98
13,864.14 13,874.46
7,416.21 10,419.76
14,800.00
389,564.73
1920
126,152.11
1,094.66
11,000.00
none
56,187.74
17,085.95 17,142.48
7,850.70 15,507.13
18,300.00
421,048.20
1921
135,886.69
219.20
17,500.00
none
52,738.98
24,453.15 16,594.65
7,423.10 16,767.55
19,300.00
449.540.12
1922
155,505.14
451.50
15,300.00
none
55,137.36
22,473.04 38,489.58
6.807.64 17,959.59
16,800.00
477,852.76
1923
166,783.32
464.31
14,800.00
none
62,619.57
20,247.54 15,607.11
6,437.28 19,011.08
15,800.00
505,983.28
Note Payment
for
for
Expense
TABLE B
Year
K. W. H. Generated
K. W. H. Sold
K. W. H.
Delivered to
Reading St. Lights
K. W. H. Used at
Station Stock Room
and ApplianceRoom
K. W. H.
Unaccounted For
Net Tons of Coal
Average Cost of
Coal Per Ton
Number of
Customers
Number of Street
Lights
Horse Power in Motors
1910
698,597
300,861
227,100
16,269
154,367
1,748.3
3,461
738
269
116 1-2
1911
771,011
367,317
244,055
15,403
144,236
1,807.6
3.341
888
382
215
1912
919,282
481,801
242,033
13,307
182,141
2,247.8
3.741
1,078
698
242 1-4
1913
1,045,592
599,893
255,744
15,283
174,672
2,680
3.941
1,263
903
272
1914
986,476
578,709
187,590
15,283
204,8)4
2,496.4
3.666
1,390
993
313 7-10
1915
980,688
548,607
156,505
10,403
265,173
2,298.2
3.578
1,599
1,181
381
1916
1,231,677
751,735
170,810
13,916
295,2 6
2,741.7
3.934
1,805
1,225
441
1917
1,291,216
812,507
168,535
12,464
297,710
3,086.7
6.348
1,964
1,295
492
1918
1,318,546
976,121
125,820
10,573
206,0 32
3,348.8
7.875
2,083
1,303
672
1919
2,056,834
1,358,028
172,948
189,067
336,791
3,640
7.517
2,333
1,339
886
1920
2,297,237
1,444,960
175,704
257,999
418,574
3,615
10.352
2.617
1,363
812.5
1921
2,193,092
1,471,698
178,892
146,206
396,206
3,308.4
10.171
2,939
1,473
1120.5
1922
2,609,076
1,583,716
183,250
276,477
565,633
3,791.5
9.00
3,234
1,481
1197.5
1923
3,039,677
2,046,848
183,935
342,189
470,225
4577.7
8.94
3,666
1,494
1367.5
Note: 3520 K.W.H. purchased in 1923 from Lynn Gas and Electric Co,
Used
298
TABLE C Manufacturing Costs Per K. W. H. Based on Total K. W. H. Delivered at Switchboard
Total
Year
Fuel
Labor
Repairs and Other Station Expenses
Costs
1910
.0086
.0075
.0026
.0187
1911
.0078
.0069
.0021
.0168
1912
.0091
.0071
.0027
.0189
1913
.0101
.0070
.0020
.0191
1914
.0092
.0082
.0017
.0191
1915
.0085
.0087
.0013
.0185
1916
.0087
.0071
.0022
.0180
1917
.0144
.0075
.0015
.0234
1918
.0200
.0085
.0025
.0310
1919
.0133
.0066
.0019
.0218
1920
.0162
.0071
.0009
.0242
1921
.0153
.0077
.0009
.0240
1922
.0131
.0066
.0014
.0211
1923
.0134
.0057
.0014
.0205
TABLE D Average Cost Per K. W. H. As Defined by Chapter 164, General Laws
1912 1913 1914 1915 1916 1917 1918 1919 1920
Operating Costs :
.0397 .0483 .0362 .0586 .0467 .0577 .0538 .0509 .0558
Fixed Costs :
.0198 .0176 .0254 .0299 .0261 .0249 .0274 .0213 .0259
Total Costs
.0595 .0659 .0616 .0885 .0728 .0826 .0812 .0722 .0817
1921 1922 1923
Operating Costs :
.0640 .0561 .0494
Fixed Costs :
0330 .0278 .0185
Total Costs :
.0970 .0839 .0679
LIST OF UNPAID BILLS
Andren, Karl, Co.
$ 60.00
Bancroft, Wendell & Co.
33.30
Bennett, Van I.
35.94
Braman, Dow & Co.
19.34
Boston Lumber Co.
309.00
Boston & Maine R.R.
127.00
Buckminster, Geo., Co.
1,907.11
Central Garage
33.25
Charles, M. F.
5,95
Clapp & Leach
14.54
299
Condit Elec. Mfg. Co.
Columbia Lamp Division
72.59 1,034.98
Dallman, H. I., Co.
7.20
Eureka Vacuum Cleaner Co.
102.20
Farley & MacNeil
38.25
Danforth, A. L.
24.76
Fife, T. C.
1.50
Fisher, R. J.
1.65
Flood, E. K.
5.50
Foster-McDonald Co.
1,071.62
Francis Bros.
10.25
Garland, The, Co.
92.50
Globe Stove & Range Co.
.86
Ham, E. W., Elec. Co.
820.92
Hardy, F. S., & Co.
597.11
Heath, Carroll R.
25.00
High, Fred S.
.95
Hobart, Earl G.
9.00
Hobbs & Warren Co.
17.03
India Alkali Works
13.87
Jenkins Bros.
17.34
Lewis Elec. Supply Co.
84.03
Library Bureau
27.23
Lumsden & Van Stone Co., The
442.59
Lynn Gas & Elec. Co.
193.32
Maxwell. J. M.
7.59
McArdle, H. B.
2.00
McKenney & Waterbury Co.
11.00
New England Coal & Coke Co.
1,722.92
Perkins-Carpenter Elec. Supply Co.
97.55
Pettingell-Andrews Co.
885.55
Perry, John
2.20
Reading Garage & Service Station
38.00
Reading Tire Shop
1.00
Reading Motor Co.
15.60
Refaction Inc. Lamp Co.
41.25
Reo, Simpson Co.
2.64
Ridlon, Frank, Co.
115.16
Robbins-Phalon Co.
521.14
Russell Coal Co.
3.842.11
Rensselaer Valve Co.
56.30
Scannell Boiler Works
104.70
Simplex Elec. Heating Co.
300.00
Spaulding-Moss Co.
.47
Standard Oil Co.
117.87
Standoow, Charles
8.50
300
Stembridge, S. R.
35.60
Sweetser, Percy
93.04
Temple, J. S., Co.
20.00
Toledo Cooker Co., The
28.00
Tredinnick, John
725.99
Twombly, W. E. & J. F.
81.15
Vacuum Oil Co.
19.21
Vye-Smith Co.
88.49
Waldo Bros. & Bond Co.
13.75
Wales Adding Machine Co.
13.25
Western Elec. Co.
22.46
Westinghouse Elec. & Mfg. Co.
57.98
Wetmore-Savage Co.
1,718.11
Woburn Machine Co.
10.89
Yawman & Erbe Mfg. Co.
21.00
$ 17,896.41
301
REPORT OF AUDITOR FOR YEAR 1923
February 5, 1924.
To the Municipal Lighting Board,
Reading. Mass.
Gentlemen :
According to your order, I have examined the books of record of the Municipal Light Department for the calendar year of 1923, and submit herewith my report.
Appended hereto and made a part of the report will be found audited schedules as follows:
"A"-Balance Sheet December 31, 1923. "B"-Condensed Statement of Operations for 12 months. "C"-Profit & Loss Account covering year 1923. "D"-Detail of Operating Income for year 1923. "E"-Detail of Operating Expense for year 1923.
"F"-List of Bonds and Notes-original issues and amounts out- standing December 31. 1923.
Cash in Bank:
5095.50 represented as Construction Fund was checked and found to agree with the Town Accountant's record.
Petty Cash
$150.00 loaned by the Town Treasurer to be used as an "Office Fun l" at the first of 1923 was found returned intact December 31, 1923. On Jan- uary 1. 1924, Fund was again established. When counted on January 31. 1924, an overage of 92c was found. Proper entry was immediately made to cover this difference.
Consumers' Deposit Fund
The pass book of the Mechanic Savings Bank of Reading showel $963.87 which is in agreement with the books of the Department. This fund now contains both principal and accrued interest. I suggest that interest earned by this fund be withdrawn regularly and credited to "Acct. 563, Interest Income." Interest paid to depositors should be charged to "Interest on Guarantee Deposits" and withdrawn from Operating Fund. In other words, this account should contain only principal amounts. This account is in balance with Liability Account of Consumers' Deposits.
Accounts Receivable (Light & Power)-$11.975.72
The total of individual customer's account cards showed to be $15.62 less than the above figure.
302
Accounts Receivable (Miscellaneous)-$9,942.56
The total of individual customer's account cards showed to be $125.63 more than the above figure.
Adjustment should be made of the two foregoing accounts after February 1st balances are rechecked. Balances should be computed and entered upon each customer's account card with the view of keeping the total in balance with the Ledger Assets monthly. This procedure should apply to Jobbing as well as Light and Power Accounts.
Plant Accounts
Plant Accounts as shown in Schedule "A", I believe, represent fairly the cost thereof. Depreciation at 4% of cost of plant less Land values was charged off and properly recorded.
Material and Supplies
Inventory was taken by clerks of your department and was found to be in agreement with book as of December 31, 1923.
Construction Ledger
The Construction Ledger showing the detail of Plant expenditures should be posted up-to-date and kept im balance with the general books. Such was not the case on December 31, 1923.
Prepaid Insurance
Unexpired premiums were checked and found to agree with the books.
Bonds
Bonds to the amount of $11,000 00 were retired during 1923 leaving $119,000.00 outstanding as of December 31, 1923. See Schedule "F" for complete detail of Bonds outstanding.
A new issue of $10,000.00 was made December 1, 1923. Premium real- ized was $65.00 and properly applied to expense of selling same. This issue was made to cover new construction.
Notes
Notes to the extent of $1,800.00 were retired and none issued during 1923.
Accounts Payable
The Ledger Account showed $40.00 more than detail of unpaid vouchers. This difference, without doubt, will be found by Mr. Sargent and corrected during January. This list was stated to represent the Department's indebtedness for merchandise received.
I suggest that monthly check be made by the Local Office on Accounts Payable which, if done, will eliminate checking for small differences at the close of the year.
303
Consumers' Deposits
The amount represented in this Liability Account is found to agree with the actual deposit as shown in the Asset Account "CONSUMERS' DE- POSIT FUND". Comment made in regard to eliminating interest will, of course, apply to this account as well. A detail record at the office showing the name, address, account number, and amount of deposit, together with date of deposit, was found to be correct, but total does not agree with this amount because of interest being allowed to remain in the fund. When interest is removed, the accounts will agree. Instructions were left with the bookkeeper as to future procedure.
Other Current Liabilities
This account represents $700.00 borrowed from the Town Treasury. This loan is unsecured and is of temporary nature.
Interest on Bonds and Notes
$1,510.37 represents the correct amount of accrued interest on out- standing bonds and notes as of December 31, 1923.
Surplus
The Department has had a successful year as is evidenced by the net gain in Surplus of $9,069.32, which is accounted for after making adjust- ment of Accounts Receivable, Inventory, Prepaid and Accrued Accounts.
Income
Gross Electric Income as reported in Schedule "B" is $166,436.12 or an increase over 1922 of $10,930.98.
Expenses
Review of vouchers for the year show a proper classification as per the Department of Public Utilities regulations; total of which show to be $127,892.69.
General
The books show a marked improvement over prior year and conform, I believe, with the regulations of the State. However, suggestions were left with the bookkeeper for minor improvements by way of additional records.
I wish to state that the assistance rendered by the employees of the Department is very much appreciated.
Respectfully submitted, CHARLES E. STANWOOD, Public Accountant.
F. J. Stanwood Warren Scott R. J. Sullivan J. K. Tilotson
.
SCHEDULE "A" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT BALANCE SHEET AS OF DECEMBER 31, 1923
Assets
INVESTMENTS: PLANT INVESTMENT:
111 Land $ 2,575.80
113 Structures 20,669.29
Generating Plant-Steam:
114 Boiler Plant Equipment .. 39,484.36
115 Prime Movers and Auxil- iaries 19,016.50
116 Turbo Generator Units 29,654.80
117 Electric Plant-Steam .. 20,181.46
Transmission, Distribution & Storage:
125 Poles, Fixtures and Over- head Conductors
141,906.57
128 Consumers' Meters .
31,581.91
129 Consumers' Meter Instal- lation
4,065.02
130 Line Transformers
29,729.86
131 Transformer Installation 3,459.34
Utilization Equipment:
132 Street Lighting Equipment
11,465.48
Total Plant Investment ... $353,790.39
General Equipment: 150 Office Equipment $ 2,387.00 153 Transportation Equipment 2,750.00 Total Investments $358,927.39
Liabilities
301 Appropriations for Construc-
tion
$ 30,678.26
305
Bonds
$119,000.00
307 Notes Payable 22,100.00
Total Bonds and Notes $141,100.00
CURRENT LIABILITIES:
308
Accounts Payable
$ 17,936.41
309
Consumers' Deposits
963.07
312
Other Current Liabilities
700.00
Total Current Liabilities $ 19,599.48
ACCRUED LIABILITIES:
314 Interest on Bonds and Notes
$
1,510.37
Total Accrued Liabilities
$
1,510.37
APPROPRIATED SURPLUS:
322 Loans Repayment
$204,800.00
Total Appropriated Surplus
$204,800.00
Total Liabilities
$397,688.11
PROFIT AND LOSS:
400 Profit and Loss- Balance .. $ 20,510.45
CURRENT ASSETS:
204 Construction Fund $ 999.50 205 Consumers' Deposit Fund 963.87
207-1 Accts. Rec. L't & Power . . $11,975.72 207-2 Accts. Rec. Misc. 9,942.56 21,918.28
Materials and Supplies:
209-1 Material
and
Suppl .- Gen'l $10,474.16
209-2 Station Tools &
Appliances
427.70
·
209-3 Dist. Tools
&
Appliances .
1,619.65
209-4 Printing & Of- fice Supplies 643.21
209-6 Coal Supply-
Electric
7,809.24
. .
209-9 StationSupplies
1,521.36
209-10 Lamps and Ap-
pliances
.
9,421.79
31,917.11
Total Current Assets
$ 55,798.76
PREPAID ACCOUNTS:
213 Insurance General
$
3,472.41
Total Prepaid Accounts
$
3,472.41
Total Assets
$418,198.56
Total Liabilities and Surplus .. $418,198.56
307
SCHEDULE "B" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT CONDENSED STATEMENT OF OPERATIONS-12 MONTHS ENDED DECEMBER 31, 1923
REVENUE FROM SALE OF ELECTRIC ENERGY :
501-1 Commercial Incandescent Light Meter $ 91,021.85
501-2 Power for Motors 29,945.76
501-3 Heating and Cooking 12,435.91
504 Power for Other Electric Companies 195.32
505-1 Public Incandescent Lighting 27,788.67
505-2 Municipal Lighting 2,075.47
505-3 Municipal Power 2,508.83
Total Revenue from Sale of Electric Energy $165,971.81
REVENUE FROM MISC. ELECTRIC OPERATIONS:
508 Revenue from Misc. Electric Operations 464.31
Total Revenue from Misc. Elec. Operations $ 464.31
500 .. Total Electric Operating Revenue .... $166,436.12
ELECTRIC OPERATING EXPENSES:
Production
$ 62,732.83
Transmission and Distribution
16,287.60
Utilization
3,959.94
Commercial
8,161.57
New Business
2,132.56
General and Miscellaneous
34,618.19
600 Total Electric Operating Expense ..
$127,892.69
Net Operating Revenue
$ 38,543.43
Ratio Operating Expense to Operating Revenue
76.84%
550 Uncollectible Operating Revenue ...
$ 722.91
551 Taxes Assignable to Electric Operations
514.50
Net Operating Income
$ 37,306.02
308
NON OPERATING INCOME:
560 Merchandising and Jobbing Revenue
4 6,810.93
Gross Income . .. . . ..
$ 30,495.09
DEDUCTIONS FROM GROSS INCOME: 576 Interest on Bonds & Notes Payable. ..
$ 6,437.28
NET INCOME
$ 24,057.81
SCHEDULE "C"
TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT PROFIT AND LOSS ACCOUNT-12 MONTHS ENDED DEC. 31, 1923
401 Balance, January 1, 1923
$ 11,441.13
CREDITS:
Net Income
24,057.81
Collection of Bad Debts Prior 1-1-23
811.51
This item shown in "Income Acct." on
Report to Dept. of Public Utilities
Total Credits
$ 36,310.45
DEBITS:
Bonds Paid
$ 11,000.00
Notes Paid
4,800.00
Total Debits 400 Balance, December 31, 1923
$ 15,800.00
$ 20,510.45
NET INCREASE IN SURPLUS FOR YEAR 1923
$ 9,069.32
SCHEDULE "D"
TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT DETAIL OF OPERATING INCOME-YEAR 1923
Commercial Incandescent Lighting Meter:
Reading
$ 60,713.95
Lynnfield Centre
5,545.68
North Reading
7,735.81
Wilmington
17,026.41
$ 91,021.85
309
Power for Motors:
Reading
$ 24,706.89
Lynnfield Centre
551.06
North Reading
3,386.56
Wilmington
1,301.25
$ 29,945.76
Heating and Cooking:
Reading
$ 8,098.65
Lynnfield Centre
843.26
North Reading
1,648.21
Wilmington
1,845.79
$ 12,435.91
Public Incandescent Lighting:
Reading
$ 14,800.00
Lynnfield Centre
1,741.55
North Reading
3,714.12
Wilmington
7,533.00
$ 27,788.67
Power for Other Electric Companies:
Wakefield
$ 60.86
Lowell
134.46
$ 195.32
Municipal Lighting
$
2,075.47
Municipal Power
$
2,508.83
Total Revenue from Sale of Electric Energy
$165,971.81
SCHEDULE "E" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT DETAIL OF OPERATING EXPENSES-YEAR 1923
PRODUCTION EXPENSES:
601-605 Labor
$ 17,424.86
606 Boiler Fuel
40,920.54
607 Water for Steam
216.16
608 Lubricants
126.78
609 Station Supplies and Expense
730.41
611 Maint. of Station Structures
695.04
612 Maint. of Boiler Plant Equip.
1,359.07
614 Maint. of Turbo Generator Units
811.17
615
Maint. of Electric Generating Equip. . .
174.18
616 Maint. of Electric Accessory Equip.
157.29
617 Maint. of Misc. Power Plant Equip.
4.07
634 Electric Energy Purchased
113.26
$ 62,732.83
310
TRANSMISSION & DISTRIBUTION EXPENSES:
$ 3,689.28 638 Operation of Trans. & Dist. Lines . .
639 Trans. & Dist. Supplies & Expense . . 872.82
640 Inspecting & Testing Meters 1,015.62
641 Removing & Resetting Meters
519.69
642 Removing & Resetting Transformers ..
652.66
647 Maint. of Trans. & Dist. Lines
8,709.24
647 Maint. of Trans. & Dist. Lines (Storm)
188.31
650 Maint. of Consumers' Meters
352.20
651 Maint. of Transformers 287.78
$ 16,287.60
UTILIZATION EXPENSES:
654 Municipal Street Lamps-Labor
$ 837.81
655 Municipal Street Lamps-Sup. & Exp. 1,336.86
657 Maint. of Municipal Street Lamps ... 228.23
658 Maint. of Com'l Lighting Equipment
2.06
659 Maint. of Consumers' Installations ....
1,554.98
$ 3,959.94
COMMERCIAL EXPENSES:
660 Commercial Salaries
$ 6,176.52
661 Commercial Supplies & Expense 1,985.05
$ 8,161.57
NEW BUSINESS EXPENSES:
662 New Business Salaries
$ 1,517.87
663 New Business Supplies & Expense
33.72
664 Advertising
556.70
665 Wiring and Appliances 24.27
$ 2,132.56
GENERAL & MISCELLANEOUS EXPENSES:
666 Salaries Mun. Light Board & Manager
$ 3,524.92
667 Salaries General Office Clerks
2,397.78
668 Gen'l Office Supplies & Expense
1,099.71
670 Law Expense-General
29.00
671 Insurance
5,287.46
673 Accidents & Damages
.40
674 Store Expense
246.35
675 Transportation Expenses
1,664.46
676 Inventory Adjustments
988.12
678 Depreciation
19,011.08
679 Misc. General Expenses
368.91
$ 34,618.19
Total Electric Operating Expenses
$127,892.69
SCHEDULE "F" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT ORIGINAL ISSUE OF BONDS AND NOTES AND AMOUNTS OUTSTANDING DEC. 31, 1923
BONDS
No of
Date Issued
Original Amount $ 50,000.00
Rate of Date of Interest Interest Payment
April-October
Establishing Plant $ 2,000.00
4
2d
10- 1-07
26,000.00
1,000 yearly 26 yrs.
41/2 April-October
Additions
10,000.00
3d
7- 5-11
20,000.00
2,000 yearly 10 yrs.
4 January-July
Wilmington Lines
None
4th
10-15-13
23,500.00
1,500 yearly 9 yrs.
April-October
Station
9,000.00
41/4
5th
9-15-14
8,000.00
41/2 March-September
Reading
3,500.00
6th
5-15-16
10,000.00
4 May-November
New Construction
6,500.00
7th
10- 1-17
55,000.00
April-October
Additions
37,000.00
3,000 yearly 18 yrs.
41/2
8th
1- 1-19
12,000.00
January-July
Additions
8,000.00
41/2
9th
4- 1-19
20,000.00
434 April-October
Additions
16,000.00
10th
5- 1-20
20,000.00
1,000 yearly 20 yrs.
5 May-November
Additions
17,000.00
11th
12- 1-23
10,000.00
1,000 yearly 10 yrs.
41/2 June-December
Additions
10,000.00
$254,500.00
$119,000.00
Issue
Purpose
Amt. Outstanding Dec. 31, 1923
1st
10- 1-94
Payments on Principal $1,000 yearly 10 yrs. 2,000 yearly 20 yrs.
1,000 yearly 10 yrs. 500. yearly 16 yrs. 500 yearly 20 yrs. 1,000 yearly 1 yr.
1,000 yearly 4 yrs. 500 yearly 16 yrs. 1,000 yearly 20 yrs.
NOTES
1st
5- 1 96
$ 7,000.00
$1,400 yearly 5 yrs.
4 4 May-November May-November
Construct. of Plant
None
2nd
5- 1-96
7,000.00
1,400 yearly 5 yrs.
Construct. of Plant None
3rd
12- - 96
1,500.00
1,500 Dec. 9, 1897
4
4th
7-15-98
3,000.00
1,000 July 15, 1901
July-January
New Generator
None
2,000 July 15, 1904 3
5th
12- 7-03
1,400.00
1,400 Dec. 7, 1906
4 June-December May-November
To take up note due May 1, 1903
None
6th
11-15-09
2,500.00
1,000 Nov. 15, 1910
1,500 Nov. 15, 1911
1
7th
1-21-10
1,800.00
1,800 Jan. 21. 1913
4
June-December
Construction
None
8th
7-12-11
2,200.00
2,200 July 12, 1912
4
December-July
Construction
None
9th
3-27-10
12,000.00
1,000 yearly 12 yrs. 1
March-September
No. Reading Lines $ 2,000.00
41/4 April-October
New Construction
None
10th
4-16-13
13,500.00
11th
5-15-15
12,000.00
12th
7-15-15
4,000.00
1,500 yearly 9 yrs. 800 yearly 15 yrs. 500 yearly 8 yrs. 500 yearly 13 yrs.
5 March-September
New Construction
3,500.00
13th
9-22-17
6,500.00
14th
11-20-19
3,000.00
41/2 May-November
New Construction None
15th
7- 1-22
7,000.00
6 January-July
Additions
5,000.00
16th
12-15-22
7,000.00
1,500 yearly 2 yrs. 1,000 yearly 7 yrs. 1,000 yearly 7 yrs.
41/2 June-December
Additions
6,000.00
$ 22,100.00
$ 91,400.00
May-November
New Construction
5,600.00
4 January-July
Reading
None
Lynnfield Ctr. Lines
None
Construct. of Plant None
INDEX
Page
Accountant
199
Board of Assessors
85
Board of Health
103
Board of Overseers of Poor
125
Board of Public Works 38
Board of Selectmen
123
Chief of Fire Department
91
Chief of Police
88
Collector
196
Custodian of Veterans' Graves
109
Demonstration Work in Agriculture and Home Economics
108
Electric Light Commissioners
282
Forest Warden
98
Inspector of Building
102
Inspector of Milk
105
Inspector of Plumbing
104
Inspector of Wires
100
List of Jurors
8
Planning Board
127
Public Library
115
School Committtee 129
106
Superintendent of Fire Alarm
94
Treasurer
193
Tree Warden
99
Town Clerk, Births Registered
26
Town Clerk, Deaths Registered
35
Town Clerk, Marriages Registered
30
Town Clerk, Dogs Licensed
25
Town Clerk, Town Meetings
11
Town Officers 3
Trustees of Laurel Hill Cemetery
110
Sealer of Weights and Measures
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