USA > Massachusetts > Middlesex County > Reading > Town of Reading Massachusetts annual report 1924 > Part 16
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I also recommend a reduction in the rates for commercial power to take effect February 1, 1925, the new rates to be as follows:
Commercial Power Rates
The monthly charge will consist of: First, a service charge of 50c per month per horsepower of connected load; second, a current charge of :
5c per K. W. H. for the first 500 K. W. hrs.
4c per K. W. H. for the next 1000 K. W. hrs.
31/gc per K. W. H. for the next 2500 K. W. hrs. 3c per K. W. H. for the next 5000 K. W. hrs.
21/c per K. W. H. for all additional K. W. hrs.
Minimum Charge
The minimum monthly charge will be the service charge, but in no case less than $1.00.
Discount
A discount of ten per cent will be allowed on all power bills except minimum bills, if payment is received at the Office of the Municipal Light Department not later than fifteen days from date of bill.
No discount will be allowed when arrears are due.
My estimate of the income and expenses for 1925 is herewith sub- mitted, together with data from the office records:
ESTIMATE FOR 1925
Expenses
For operation, maintenance, and repair
$130,962.50
For interest on bonds and notes
5,633.50
For depreciation (4% on $527,571.48)
21,102.36
For bond payments
9,500.00
230
For note payments
600.00
For uncollectible operating revenue
500.00
$172,398.36
Income
From sales to private consumers
From sundry sales
1,000.00
From tax levy at average cost per K. W. H. as defined by statute :
For Street Lights
$ 11,000.00
For Municipal Buildings
1,669.05
$ 12,669.05
Total Income
$187,604.47
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
DATA FROM RECORDS OF PLANT
Kilowatt hours manufactured
3,572,588
Kilowatt hours for Reading Street Lights 209,73S
Kilowatt hours sold
2,463,602
Kilowatt hours used at station and office
392,281
Kilowatt hours unaccounted for 506,967
Coal used, net tons 5,379.5
Average cost of coal per net ton
$6.503
Poles added
235
Feet of wire added
198,232
New services installed
399
Street Lamps installed
50
Connected Load December 31, 1924
Number of customers
4,058
Horse power in motors
1,281.8
Number of public street lights
1,509
Number of private street lights
28
4,300.00
For taxes
$173,935.42
231
Reading
Number of customers December 31, 1924
2,446
Number of 40 candle power public street lights
478
Number of 100 candle power public street lights
13
Number of 250 candle power public street lights
70
Number of 600 candle power public street lights
43
Number of 60 candle power private street lights
9
Number of 250 candle power private street lights
1
Horse power in motors
1,044
Earnings for year
$119,864.89
Lynnfield Center
Number of customers December 31, 1924
293
Number of 40 candle power public street lights
131
Number of 40 candle power private street lights
3
Horse power in motors
19
Earnings for year
$ 8,759.78
North Reading
Number of customers December 31, 1924
406
Number of 40 candle power public street lights
278
Number of 40 candle power private street lights
6
Horse power in motors
177.5
Earnings for year
$ 18,353.15
Wilmington
Number of customers December 31, 1924 880
Number of 40 candle power public street lights
496
Number of 40 candle power private street lights
9
Horse power in motors
41.9
Earnings for year
$ 30,911.34
COST OF DISTRIBUTION SYSTEM IN OUTSIDE TOWNS
Lynnfield Center
Total Investment to December 31, 1924:
Poles, Fixtures and Overhead Conductors $ 16,985.61
Consumers' Meters
3,041.05
Line Transformers
2,297.88
Street Lighting Equipment
1,243.30
$ 23,567.84
3
Number of 60 candle power public street lights
232
North Reading
Total Investment to December 31, 1924:
Poles, Fixtures and Overhead Conductors $ 38,168.04
Consumers' Meters
4,554.73
Line Transformers
4,610.98
Street Lighting Equipment
2,222.92
$ 49,556.07
Wilmington
Total Investment to December 31, 1924:
Poles, Fixtures and Overhead Conductors ..
$ 67,134.50
Consumers' Meters
7,039.82
Line Transformers
6,139.90
Street Lighting Equipment
3,442.51
$ 83,756.73
Total Investment-Outside Towns
$156,881.24
Total Income-Outside Towns, 1924
58,024.27
Earnings from Light and Power-5 Years
1920
1923
1924
Light
$ 92,850.17
1921 $107,342.66
1922 $119,815.79
$121,697.50
$123,659.16
Power
33,301.94
28,544.03
35,689.35
45,085.82
54,230.00
$126,152.11
$135,886.69
$155,505.14
$166,783.32
$177,889.16
Note-The above table includes the income from the appropriation for street lights and Municipal Buildings.
TABLE A
Income from
Electricity
Income from Other Sources
Appropriations
from Tax Levy
Street Lights
Appropriations
from Tax Levy
Construction
Manufacturing
Expense
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
nono
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
nono
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
1924
177,889.16
1,373.72
12,000.00
none
61,286.63
25,898.28 30,817.91
6,174.57 20,136.30
15,800.00
530,147.28
Note Payment
Year
Sale of
for
for
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
andApplianceRoom
K. W. H.
Unaccounted For
Net Tons of Coal
Used
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
154,337
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
204,894
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
295,216
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
1,96-4
1,295
192
1918
1,318,546
976,121
125,820
10,573
206,032
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
396,296
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
1924
3,572,588
2,463,602
209,738
392,281
506,967
5,379.5
6.503
4,058
1,537
1281.8
Note: 3520 K.W.II. purchased in 1923 from Lynn Gas and Electric Co,
-
235
TABLE C Manufacturing Costs Per K. W. H. Based on Total K. W. H. Delivered at Switchboard
Repairs and Other
Total
Year
Fuel
Labor
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
1924
.00979
.0055
.00166
.01695
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 1924
Operating Costs :
.0640 .0561 .0494 .0377
Fixed Costs :
.0330 .0278 .0185 .0138
Total Costs :
.0970 .0839 .0679 .0515
UNPAID BILLS, DECEMBER 31, 1924
Dr.
Cr.
Am. Elec. Service and Maintenance Co.
$
107.91
Van I. Bennett
21.65
Boston & Maine R.R.
669.91
George H. Buckminister Co.
1,187.48
Chandler & Farquhar Co.
27.00
A. W. Chesterton Co.
6.08
Columbia Lamp Division
652.70
Eastern Mass. St. Ry. Co.
488.60
Edison Electric Appliance Co.
22.41
236
Electric Machine and Instrument Co.
5.74
Emerson Electric Mfg. Co.
1.75
Foster-McDonald Co.
68.63
Garlock Packing Co.
8.17
The Geir Company
49.25
General Electric Co.
98.61
Globe Stove and Range Co.
2.17
E. W. Ham Electric Co.
$ 4.50
F. S. Hardy & Co.
1.69
Hobbs & Warren
13.50
Hodge Boiler Works
1,350.72
Jenkins Bros.
2.47
Johns-Mannville, Inc.
45.04
Kelvinator Boston, Inc.
9.39
Kleen Heat Co. of N. E.
45.00
The Leather House
38.00
Library Bureau
101.85
Linscott Motor Co.
3.15
H. B. McArdle
61.40
Frank Nason Electric Co.
32.60
National Carbon Co.
15.83
N. E. Coal & Coke Co.
6,877.11
R. V. Pettingell Electric Supply Co.
134.61
Pettingell-Andrews Co.
176.20
Robbins, Phalon Co.
499.14
Scannell Boiler Works
20.00
Standard Oil Co.
111.52
Star Brass Mfg. Co.
2.04
Stearns, Perry & Smith Co.
34.50
Thorp & Martin Co.
49.86
Vacuum Oil Co.
22.00
Vye-Smith Co.
324.82
George H. Wahn Co.
12.63
Wales Adding Machine Co.
13.25
Waterproof Paint & Varnish Co.
62.50
Western Electric Co.
820.27
Westinghouse Elec. & Mfg. Co.
4.26
Wetmore-Savage Co.
1,447.54
C. H. Wheeler Mfg. Co.
65.22
Woburn Machine Co.
11.07
Worthington Pump & Machine Co.
2.24
M. S. Wright Co.
4S.4S
$15,846.99
$35.47
35.47
$15,811.52
237
REPORT OF AUDITOR FOR YEAR 1924
January 30, 1925.
To the Municipal Lighting Board,
Reading, Mass.
Gentlemen :
According to your order, we have examined the books and records of the Municipal Light Department for the year ended December 31st, 1924, and submit herewith our report.
Attached hereto and forming a part of this report will be found audited schedules as follows:
"A"-Balance Sheet, December 31, 1924. "B"-Condensed Statement of Operations for the year 1924. "C"-Profit and Loss Account for the year 1924.
"D"-Detail of Operating Revenue for the year 1924. "E"-Detail of Operating Expenses for the year 1924. "F"-Bond and Note Schedule.
Plant Investment:
Plant Investment accounts as shown in Schedule "A", we believe, fairly represent the cost thereof less depreciation charges to date: Depreciation at 4% of the cost of plant, less land values, was charged off during the year 1924 and properly recorded.
Cash in Bank :- $2,236.21:
This amount, represented as Construction Fund in Schedule "A", was checked and found to be in agreement with the Town Treasurer's accounts.
Petty Cash-$150.00:
There is loaned to the Municipal Light Department by the Town Treasurer on the first of each year $150.00 to be used as a petty cash fund. This amount is returned to the Town Treasurer on December 31st of each year. This fund was counted on the morning of December 31st, 1924, and found to be correct. Proper turnover was made on that date to the Town Treasurer.
Consumers' Deposit Fund-$1,507.10:
The pass book of the Mechanic Savings Bank of Reading was examined and found to be in agreement with the books of the Department. This fund contains both principal and accrued interest. The accrued interest is to be withdrawn during 1925 and deposited in the Operating Fund, the withdrawal to be credited to Acct. 563, "Interest Income".
238
Accounts Receivable (Light and Power)-$13,134.33:
An analysis of this account was made as at Oct. 31, 1924, and found to be in agreement with the control balance. From this analysis, all old accounts were brought to the attention of the manager and $564.64 was charged off as uncollectible. Balances of the customers' accounts are taken monthly and proved with the control as per suggestion in our 1923 annual report.
Accounts Receivable (Miscellaneous)-$11,413.86:
This account was analyzed as above Light and Power accounts. There was charged off $558.54 as uncollectible.
Material and Supplies-$41,440.54:
A physical inventory was taken by clerks of your department as at December 31, 1924. Proper adjustments were made to bring the books into agreement with the amount shown by the inventories.
Prepaid Insurance-$1,688.22:
This represents the unexpired premiums on policies covering the Municipal Lighting Department. Insurance covering automobiles is charged to Acct. 675, "Transportation Expenses". Premiums covering bonding of employees should in the future be charged to Acct. 661, "Com- mercial Supplies and Expenses".
Bonds-$107,500.00:
Bonds to the amount of $11,500.00 were retired during 1924, leaving $107,500.00 outstanding as at December 31, 1924, as shown by Schedule "F". There were no issues during 1924.
Notes-$17,800.00
Notes to the amount of $4,300.00 were retired during 1924, leaving $17,800.00 outstanding as at December 31, 1924, as shown by Schedule "F". There were no issues during 1924.
Accounts Payable-$15,811.52:
This amount represents unpaid vouchers as' at December 31, 1924. A list was made of outstanding vouchers and found to be in agreement with unpaid amounts in the voucher register and in balance with the control account. As per suggestion in our 1923 report, this account is checked monthly and balanced with control which eliminates checking for small differences at the close of the year.
Consumers' Deposits-$1,507.10:
The actual liability represented by this account amounts to $1,289.75, being the amount refundable to customers at the termination of service. The balance, $217.85, is interest accrued on this amount to December 31, 1924. Concurrently with the withdrawal of this interest (to be deposited in Operating Fund) a journal entry should be made crediting Acct. 205,
239
"Consumers' Deposit Fund", and charging this account with a like amount. This procedure should be followed with every withdrawal of interest from this fund.
Accrued Liabilities-$2,695.89:
Represents accrued interest and insurance to December 31, 1924.
Income-$178,344.89:
Gross electric operating revenue as shown in Schedule "B" represents an increase of $11,908.77 over 1923 and $22,839.75 over 1922 revenue.
Expenses-$138,139.12:
Electric operating expenses as shown in Schedule "B" represents an increase of $10,246.43 over 1923 expenses.
As shown by Schedule "C", the department has had an exceptionally successful year, net increase in Surplus for the year being $17,515.8S.
We wish to express our appreciation for the helpful assistance ren- dered by the employees of the department.
Respectfully submitted,
CHARLES E. STANWOOD & SONS,
By Francis J. Stanwood, Industrial Engineers and Public Accountants
F. J. Stanwood
C. E. Moore W. W. Scott
SCHEDULE "A" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT BALANCE SHEET AS OF DECEMBER 31, 1924
Assets
PLANT INVESTMENT:
111
$ 2,575.80
113 Structures
20,898.06
305 Bonds
$107,500.00
307
Notes Payable
17,800.00
Generating Plant-Steam:
114 Boiler Plant Equipment. .. 36,915.30
115 Prime Movers and Auxil- iaries 17,875.51
116 Turbo-Generator Units
27,875.51
117 Electric Plant-Steam
19,618.67
Transmission, Distribution and
Storage:
125 Poles, Fixtures and Over- head Conductors 147,585.12
128 Consumers' Meters ยท
34,192.85
129 Consumers' Meter Instal-
lation 4,333.12
130 Line Transformers
32,102.22
131 Transformer Installation
3,341.78
Utilization Equipment:
132 Street Lighting Equipment 10,474.15
Total Plant Investment ... $357,818.09
General Equipment:
150 Office Equipment $ 2,905.75
153 Transportation Equipment 2,475.00
Liabilities
301
Appropriations for Construc-
tion
$ 30,678.26
Total Bonds and Notes 125,300.00
CURRENT LIABILITIES: 308 Accounts Payable $ 15,811.52
309 Consumers' Deposits 1,507.10
Total Current Liabilities .
17,318.62
ACCRUED LIABILITIES:
314 Interest on Bonds and Notes
$
1,341.94
315 Liability Insurance 1,353.95
Total Accrued Liabilities 2,695,89
APPROPRIATED SURPLUS: 322 Loans Repayment 220,600.00
Total Liabilities $396,592.77
PROFIT AND LOSS:
400 Profit and Loss-Balance
.
$ 38,026.33
Total Investments ....
$363,198.84
CURRENT ASSETS :
204
Construction Fund
$
2,236.21
205 Consumers' Deposit Fund 1,507.10 207-1 Accts. Rec. L't
and Power .. $13,134.33
207-2 Accts. Rec. Misc.
11,413.86
21,548.19
Materials and Supplies :
209-1 Material
and
Suppl .- Gen'l
17,073.02
209-2 Station Tools & Appliances 462.92
209-3 Dist. Tools and
Appliances . 2,325.81 209-4 Printing & Of- fice Supplies 348.34
209-6 Coal Supply - Electric . 8,158.13
209-9 Station Supplies 835.04
209-10 Lamps and Ap-
pliances . .. 12,237.28 41,440.54
Total Current Assets
$ 69,732.04
PREPAID ACCOUNTS: 213 Insurance General
1,688.22
Total Assets
$434,619.10
Total Liabilities and Surplus ....
$434,619.10
242
SCHEDULE "B" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT CONDENSED STATEMENT OF OPERATIONS-12 MONTHS ENDED DECEMBER 31, 1924
REVENUE FROM SALE OF ELECTRIC ENERGY :
501-1 Commercial Incandescent Light Meter $ 96,976.61
501-2 Power for Motors 34,663.17
501-3 Heating and Cooking 16,491.78
504 Power for other Electric Companies 24,885.58
505-1 Public Incandescent Lighting 216.85
505-2 Municipal Lighting
1,796.97
505-3 Municipal Power 2,858.20
Total Revenue from Sale of Electric Energy
$177,889.16
REVENUE FROM MISC. ELECTRIC OPERATIONS: 508 Revenue from Misc. Electric Operations $ 455.73
Total Electric Operating Revenue
$178,344.89
ELECTRIC OPERATING EXPENSES:
Production
$ 61,286.63
Transmission and Distribution
22,080.91
Utilization
3,817.37
Commercial
9,574.18
New Business
2,329.46
General and Miscellaneous
39,050.57
Total Electric Operating Expense
$138,139.12
Net Operating Revenue
$ 40,205.77
Ratio Operating Expense to Operating Revenue
.774
550 Uncollectible Operating Revenue ..
$ 1,123.13
551 Taxes Assignable to Electric Operations
510.13
Net Operating Income
$ 38,572.46
NON-OPERATING INCOME:
560 Merchandise and Jobbing Revenue
$ 917.99
Gross Income
$ 39,490.45
DEDUCTIONS FROM GROSS INCOME:
576 Interest on Bonds and Notes Payable
$ 6,174.57
Net Income
$ 33,315.88
243
SCHEDULE "C" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT PROFIT AND LOSS ACCOUNT-12 MONTHS ENDED DEC. 31, 1921 401 Balance, January 1, 1924 $ 20,510.45
CREDITS:
Net Income
$ 33,315.8S
Total Credits
$ 53,826.33
DEBITS:
Bonds Paid
$ 11,500.00
Notes Paid
4,300.00
Total Debits
$ 15,800.00
400 Balance, December 31, 1924
$ 38,026.33
NET INCREASE IN SURPLUS FOR YEAR 1924
$ 17,515.88
SCHEDULE "D" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT DETAIL OF OPERATING INCOME-YEAR 1924
Commercial Incandescent Lighting Meter:
Reading
$ 63,360.24
Lynnfield Centre
5,755.37
North Reading
8,630.79
Wilmington
19,230.21
$ 96,976.51
Power for Motors:
Reading
$ 29,179.79
Lynnfield Centre
364.50
North Reading
3,761.03
Wilmington
1,357.85
$ 34,663.17
Heating and Cooking:
Reading
$ 10,452.84
Lynnfield Centre
886.08
North Reading
2,238.48
Wilmington
2,914.38
$ 16,491.78
Public Incandescent Lighting:
Reading
$ 12,000.00
Lynnfield Centre
1,753.83
North Reading
3,722.85
Wilmington
7,408.90
$ 24,885.58
244
Power for Other Electric Companies:
Wakefield Lowell
$ 88.22
128.63
$ 216.85
Municipal Lighting
$ 1,796.97
Municipal Power
$ 2,858.20
Total Revenue from Sale of Electric Energy
$177,889.16
.
SCHEDULE "E" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT DETAIL OF OPERATING EXPENSES-YEAR 1924
PRODUCTION EXPENSES:
601-605 Labor
$ 19,679.23
606 Boiler Fuel
34,984.32
607 Water for Steam
353.93
608 Lubricants
212.41
609 Station Supplies and Expenses
844.90
611 Maint. of Station Structures
201.36
612 Maint. of Boiler Plant Equipment
3,876.34
614 Maint. of Turbo-Generator Units . .
269.99
615 Maint. of Electric Generating Equip.
751.34
616 Maint. of Accessory Electric Equip. .. 112.81
$ 61,286.63
TRANSMISSION & DISTRIBUTION EXPENSES:
638 Operation of Trans. and Dist. Lines ..
$ 5,971.90
639 Trans. and Dist. Supplies and Expense 259.56
640 Inspecting and Testing Meters . .
1,000.45
641 Removing and Resetting Meters
672.47
642 Removing and Resetting Transformers
496.93
647 Maint. of Trans. and Dist. Lines ....
12,347.80
650 Maint. of Consumers' Meters
165.18
651 Maint. of Transformers
1,166.62
$ 22,080.91
UTILIZATION EXPENSES:
654 Municipal Street Lamps-Labor
$ 857.50
655 Municipal Street Lamps-Sup. and Exp.
1,581.75
657 Maint. of Municipal Street Lamps
622.25
659 Maint. of Consumers' Installations
755.87
$ 3,817.37
COMMERCIAL EXPENSES:
660 Commercial Salaries
$ 7,684.23
661 Commercial Supplies and Expense
1,889.95
$ 9,574.13
245
NEW BUSINESS EXPENSES:
662 New Business Salaries
$ 1,609.84
663 New Business Supplies and Expense . 4.94
664 Advertising
714.68
$ 2,329.46
GENERAL AND MISCELLANEOUS EXPENSES:
666 Salaries Mun. Light Board and Manager
$ 3,653.33
667 Salaries General Office Clerks
2,925.83
668 General Office Supplies and Expense
1,096.01
671 Insurance
4,591.50
673 Accidents and Damages
14.15
674 Store Expense
460.59
675 Transportation Expenses
1,614.27
676 Inventory Adjustments
2,907.15
678 Depreciation
20,136.30
679 Misc. General Expenses
1,651.44
$ 39,050.57
Total Electric Operating Expenses $138,139.12
SCHEDULE "F" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT ORIGINAL ISSUE OF BONDS AND NOTES AND AMOUNTS OUTSTANDING DEC. 31, 1924
BONDS
No. of
Rate of Date of Interest
Interest Payment
Purpose
Amt. Outstanding Dec. 31, 1924
Issue
Ist
Date Issued 10- 1-94
Original Amount $ 50,000.00
Payments on Principal $1,000 yearly 10 yrs. 2,000 yearly 20 yrs.
4 April-October
Establishing Plant
None
2nd
10- 1-07
26,000.00
1,000 yearly 26 yrs.
41% April 1-October 1
Additions
$ 9,000.00
3rd
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.
414 April 15-October 15
Station
8,000.00
1,000 yearly 10 yrs. 500 yearly 16 yrs.
41/5 March 15-Sept. 15
Reading
3,000.00
6th
5-15-16
10,000.00
500 yearly 20 yrs.
4 May 15-Nov. 15
Now Construction
6,000.00
7th
10- 1-17
55,000.00
1,000 yearly 1 yr.
41/2 April 1-October 1
Additions
34,000.00
3,000 yearly 18 yrs.
8th
1- 1-19
12,000.00
41/4 Jan. 1-July 1
Additions
7,500.00
9th
4- 1-19
20,000.00
4% April 1-October 1
Additions
15,000.00
10th
5- 1-20
20,000.00
5 May 1-Nov. 1
Additions
16,000.00
11th
12- 1-23
10,000.00
1,000 yearly 10 yrs.
41% June 1-Dec. 1
Additions
9,000,00
$254,500.00
$107,500.00
5th
9-15-14
8,000.00
1,000 yearly 4 yrs. 500 yearly 16 yrs. 1,000 yearly 20 yrs. 1,000 yearly 20 yrs.
.
NOTES
1st
5- 1-96
$ 7,000.00
$1,400 yearly 5 yrs. 1,400 yearly 5 yrs. 1,500 Dec. 9, 1897 1,000 July 15, 1901 2,000 July 15, 1904
1,400 Dec. 7, 1906
6th
11-15-09
1 2,500.00
1,000 Nov. 15, 1910
4 May-November
Acct. note due 5-1-03 Lynnfield Centre Lines
7th
1-21-10
1,800.00
1,800 Jan. 21, 1913 2,200 July 12, 1912
4
December-July
9th
3-27-10
12,000.00
1,000 yearly 12 yrs.
4 March 27-Sept. 27
North Reading Lines
1,000.00
10th
4-16-13
13,500.00
11th
5-15-15
12,000.00
12th
7-15-15
4,000.00
13th
9-22-17
6,500.00
5 March 22-Sept. 22
Construction
3,000.00
14th
11-20-19
3,000.00
1,500 yearly 2 yrs.
41/2 May-November
Construction
15th
7- 1-22
7,000.00
1,000 yearly 7 yrs.
6 January 1-July 1
Additions
4,000.00
16th
12-15-22
7,000.00
1,000 yearly 7 yrs.
4 May-November
2nd
5- 1-96
7,000.00
4 May-November
3rd
12- 9-96
1,500.00
4
May-November
4th
7-15-98
3,000.00
3
July-January
Construction of Plant Construction of Plant Construction of Plant New Generator
5th
12- 7-03
1,400.00
4 June-December
4 June-December
Construction Construction
8th
7-12-11
2,200.00
1,500 yearly 9 yrs. 800 yearly 15 yrs. 500 yearly 8 yrs. 500 yearly 13 yrs.
41/4 April-October
Construction
Construction
4,800.00
4 May 15-Nov. 15
4 January-July
Reading
Additions
5,000.00
$ 91,400.00
$ 17,800.00
4 1/4 June 15-Dec. 15
1,500 Nov. 15, 1911
248
REPORT OF TREASURER
-
To the Citizens of Reading :-
On July 1, the Town Debt was increased by issue of Sewer Bonds as follows: $7,000.00 4% payable $1,000.00 July 1, of the years 1934-1940 inclusive, authorized by a vote of the Town on June 6, 1921, and $15,000 4% payable $1,000.00 July 1, of the years 1930-1944 inclusive, authorized by a vote of the Town, October 29, 1923.
BONDED INDEBTEDNESS
January 1, 1924
$449,600.00
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