USA > Massachusetts > Middlesex County > Reading > Town of Reading Massachusetts annual report 1927 > Part 16
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3.65
$ 60,000.00
$135,000.00
244
Notes paid in 1927
May $135,000.00
Emergency Loan for Payment of Junior High School Bonds
Month By whom purchased
Rate of int. Amt.
Nov .- Second National Bank
3.51 $ 18,000.00
(Due May, 1928)
SEWER DEPARTMENT LOANS
Outstanding Jan. 1, 1927
$167,000.00
Paid in 1927
$
8,000.00
Outstanding Dec. 1, 1927
$159,000.00
$167,000.00
$167,000.00
.
WATER DEPARTMENT LOANS
Outstanding Jan 1, 1927
$ 64,000.00
Bonds issued in 1927
15,000.00
Paid in 1927
$ 9,000.00
Outstanding Dec. 31, 1927
$ 70,000.00
$ 79,000.00 $ 79,000.00
MUNICIPAL LIGHT DEPARTMENT LOANS
Outstanding Jan. 1, 1927
$111,700.00
Paid in 1927
$ 15,800.00
Outstanding Dec. 31, 1927
95,900.00
$111,700.00 $111,700.00
MUNICIPAL BUILDING LOANS
Outstanding Jan. 1, 1927
$ 22,000.00
Paid in 1927
Outstanding Dec. 31, 1927
$ 2,000.00 20,000.00
$ 22,000.00 $ 22,000.00
MUNICIPAL AND LIBRARY BUILDING GROUNDS
Outstanding Jan. 1, 1927 $ 3,000.00
Paid in 1927
Outstanding Dec. 31, 1927
$ 500.00 2,500.00
$ 3,000.00 $ 3,000.00
245
BROWN ESTATE LOANS
Outstanding Jan. 1, 1927
$ 3,000.00
Paid in 1927
$ 500.00
Outstanding Dec. 31, 1927
2,500.00
$ 3,000.00 $ 3,000.00
SCHOOL BUILDING LOANS
Outstanding Jan. 1, 1927
$
5,000.00
Paid in 1927
$ 1,000.00
Outstanding Dec. 31, 1927
4,000.00
$ 5,000.00 $ 5,000.00
SCHOOL BUILDING LOAN JUNIOR HIGH SCHOOL
Cr.
Bonds issued in 1927
$330,000.00
Dr.
Paid in 1927
$ 34,000.00
Outstanding Dec. 31, 1927
296,000.00
$330,000.00
$330.000.00
JUNIOR HIGH SCHOOL Emergency Loan Cr.
Note issued Nov. 1927
$ 18,000.00
Dr.
Outstanding Dec. 31, 1927
$ 18,000.00
$ 18,000.00
$ 18,000.00
RICHARDSON ESTATE LOANS
Outstanding Jan. 1, 1927
$ 500.00
Paid in 1927
$ 500.00
$ 500.00 $ 500.00
FUNDED DEBT Balancing Account
Total Debt, Jan. 1, 1927
$376,200.00
School Bld'g Bonds issued in 1927
330,000.00
Emergency Note issued in 1927
18,000.00
Water Dept. Bonds issued in 1927
15,000.00
246
Paid in 1927
Sewer Dept. Loans
$ 8,000.00
Water Dept. Loans
9,000.00
Light Dept. Loans
15,800.00
Municipal Bldg. Loans
2,000.00
Mun. Bld'g Loans & Library Grounds Loan
. .
500.00
Brown Estate Loans
500.00
School Building Loans
35,000.00
Richardson Est. Loans
500.00
Total Payments 1927
$ 71,300.00
Total Debt, Dec. 31, 1927
667,900.00
$739,200.00
$739,200.00
FUNDED DEBT MATURING IN 1927
Cr.
Appropriation, Tax Levy
$ 12,500.00
Appropriation from Sundry Accounts
16,000.00
Emergency Loan
18,000.00
Transfer from Water Dept.
9,000.00
Transfer from Light Dept.
15,800.00
Dr.
Payment of Loans due in 1927 :
Sewer Dept.
$ 8,000.00
Water Dept.
9,000.00
Municipal Light Dept.
15,800.00
Municipal Building
2,000.00
Brown Estate
500.00
Richardson Estate
500.00
Municipal Building and Library
500.00
School Buildings
35,000.00
$ 71,300.00
$ 71,300.00
FUNDED DEBT MATURING IN 1928
Sewer Dept. Loans
$ 8,000.00
Water Dept. Loans
10,000.00
Light Dept. Loans
14,800.00
Municipal Building Loans
2,000.00
Municipal and Library Building Loans
500.00
Brown Estate Loans
500.00
School Building Loans
35,000.00
School Building Loans, Emergency
18,000.00
$ 88,800.00
TOWN DEBT
DETAIL OF PAYMENT BY YEARS
Year
Sewer
Dept.
Water
Dept.
Mun.
Light
Dept.
Mun.
Bldg.
School
Buildings
School Bond
Loan,
Emergency
Brown
Lot
Lib. and
Mun. Bldg.
Grounds
Totals
1928
$8,000.00
$10,000.00
$14,800.00
$2,000.00
$35,000.00
$18,000.00
$500.00
$500.00
$88,800.00
1929
8,000.00
10,000.00
13,800.00
2,000.00
35,000.00
500.00
500.00
69,800.00
1930
9,000.00
10,000.00
12,800.00
2,000.00
35,000.00
500.00
500.00
69,800.00
1931
9,000.00
5,000.00
11,000.00
2,000.00
35,000.00
500.00
500.00
63,000.00
1932
9,000.00
5,000.00
11,000.00
2,000.00
34,000.00
500.00
500.00
62,000.00
1933
9,000.00
5,000.00
8,000.00
2,000.00
34,000.00
58,000.00
1934
9,000.00
5,000.00
6,000.00
2,000.00
34,000.00
56,000.00
1935
8,000.00
5,000.00
6,000.00
2,000.00
34,000.00
·
·
55,000.00
1936
8,000.00
3,000.00
4,000.00
2,000.00
24,000.00
· ·
.
41,000.00
1937
8,000.00
2,000.00
2,500.00
14,500.00
1938
8,000.00
2,000.00
2,500.00
·
..
·
12,500.00
1939
8,000.00
2,000.00
2,500,00
·
12,500.00
1940
8,000.00
2,000.00
1,000.00
·
11,000.00
1941
7,000.00
2,000.00
1942
7,000.00
2,000.00
1943
7,000.00
.
.
·
·
. . .
7,000.00
1944
7,000.00
·
·
·
.
·
·
..
.
·
. . . ..
·
6,000.00
1947
6,000.00
.. .
·
·
·
·
. . . . . . .
. . . ..
6,000.00
1948
2,000.00
·
.
.
·
·
·
·
.
·
2,000.00
Totals
$159,000.00
$70,000.00
$95,900.00
$20,000.00
$300,000.00
$18,000.00
$2,500.00
$2,500.00
$667,900.00
·
. .
.
·
· ·
·
..
.
.
·
.
·
·
.
·
..
..
.
·
·
.
..
.
.
.
.
.
.... . .
·
..
2,000.00
1949
2,000.00
·
1945
6,000.00
·
. . .
·
.
6,000.00
1946
6,000.00
..
·
..
.
.
.
. .
. .
·
·
.
..
. . . . . . .
. . ..
·
9,000.00
9,000.00
. .
·
7,000.00
2,000.00
248
BORROWING CAPACITY
Total Valuation Abatement Valuation Net Valuation
1925
$13,292,866.00 $ 87,792.00
$13,205,094.00
1926
13,819,558.00 72,660.00 13,746,898.00
1927
14,379,299.00 47,508.00 14,331,791.00
Average net valuation 3 years
$13,761,261.00
Three percent is
412,837.83
Total Funded Debt
$667,900.00
Less Exempted Loans : (Outside Debt Limit)
Water Department $ 70,000.00
Municipal Light Dept. 95,900.00
Sewer Dept.
159,000.00
School Building
75,000.00
$399,900.00
$268,000.00
Borrowing Capacity, Dec. 31, 1927 . . .
$144,837.83
ACCOUNTING TRUST FUNDS Balancing Account
Balance Jan. 1, 1927
$184,352.89
Received, Gilman L. Parker Estate, Hospital
Fund
689.74
Sundry Parties, Cemetery Bequests
2,410.00
Interest and Premiums
10,984.75
Transferred for Hospital Care
$ 628.80
Transferred for Cemetery Maintenance
1,641.55
Transferred for Scholarships
200.00
Reducing Bonds to Par
603.75
Interest paid on Securities Purchased
409.87
Balance Dec. 31, 1927
194,953.41
$198,437.38
$198,437.38
CEMETERY BEQUEST FUND
Cr.
Balance Jan. 1, 1927
$ 40,660.69
Bequests, 1927
2,410.00
Interest, 1927
1,998.63
$41,283,783.00
249
Dr.
Transferred to Cemetery Maintenance Fund $ 1,641.55 Balance Dec. 31, 1927 43,427.77
$ 45,069.32 $ 45,069.32
GEORGE F. BUCK FUND
Cr.
Balance Jan. 1, 1927
$ 79.62
Interest, 1927
3.60
Dr.
Balance Dec. 31, 1927
$ 83.22
$ 83.22 $ 83.22
READING HIGH SCHOOL SCHOLARSHIP FUND
Cr.
Balance Jan. 1, 1927
$
5,052.95
Interest
241.32
Dr.
Transferred to Scholarships $ 200.00
Balance Dec. 31, 1927
5,094.27
$ 5,294.27 $ 5,294.27
HOSPITAL FUND Cr.
Balance Jan. 1, 1927
$138,559.63
Received from Gilman L. Parker Estate
689.74
Income
8,741.20
Dr.
Interest paid on Securities Purchased $ 409.87
Reducing Bonds to Par
603.75
Transferred for Hospital Care 628.80
Balance Dec. 31, 1927
146,348.15
$147,990.57
$147,990.57
STATEMENTS OF INVESTED FUNDS Cemetery Bequest Fund
Balance Dec. 31, 1927 $ 43,427.77
Investments Listed at Par :
U. S. Liberty Bonds, 4th 41/4s, 1933-38 $ 12,000.00
N. E. Tel. & Tel. 1st Mort., 5's Series A 1952 5,000.00
No. Pac. Ry. Ref. & Imp., 6's Series B 2047 5,000.00
250
N. Y. C. R. R. Ref. Imp., 5's Series C 2013
4,000.00
Andover Savings Bank 3,075.00
Cambridge Savings Bank 3,000.00
Essex Savings Bank, Lawrence 3,075.00
Mech. Savings Bank, Reading
8,277.77
$ 43,427.77 $ 43,427.77
READING HIGH SCHOOL SCHOLARSHIP FUND
Balance Dec. 31, 1927
$ 5,094.27
Investments :
Andover Savings Bank $ 1,000.00
Charlestown Five Cent Savings Bank 1,000.00
Essex Savings Bank, Lawrence 1,000.00
First Nat'l Bank, Reading Savings Dept.
2,094.27
$ 5,094.27 $ 5,094.27
GEORGE F. BUCK FUND
Balance Dec. 31, 1927
Investment :
Mechanics Savings Bank $ 83.20
$ 83.20
$ 83.20 $ 83.20
HOSPITAL FUND
Balance Dec. 31, 1927
$146,348.15
Investments, Securities listed at Par or less :
$5,000 Am. Tel. & Tel. Col. Tr. 5's, 1946 $ 5,000.00
$5,000 Bos. & Albany R. R. Imp. of 1908, 4's, 1933 4,798.00
$5,000 Boston Elevated, 5's, 1937 5,000.00
$5,000 Cent. Hudson Gas & Elec. 5's, 1957 5,000.00
$5,000 Chicago B. & Q. R. R. Co., Ill., Div. "M " 31/2's, 1949 4,347.50
$2,000 Conn. Lt. & Power Co., 1st Ref. S. F. 7's, 1951 2,000.00
251
$5,000 Conn. Lt. & Power Co. 1st Ref. S. F. 41/2's, 1956 4,787.50
$5,000 Consumers' Power Co., 5's, 1936 .. 5,000.00
$5,000 Consumers' Gas of Baltimore Gen. M. 41/2's, 1954 4,922.50
$5,000 Ill. Cent. R. R. Co., Tr. 4's, 1952 .. 4,437.50
$5,000 Ill. Cent. R. R. Co., St. Louis Div. 1st M. 3's, 1951 3,800.00
$5,000 Kansas City Power & Lt. 41/2's, 1957 5,000.00
$5,000 Kings Co. Elec. Lt. & Power 5's, 1937 5,000.00
4,737.50
$5,000 N. Y. Cent. & H. R. R. Deb. 4's, 1934 $5,000 N. Y. Tel. Co. 1st Gen. M. 41/2's, 1939
4,950.00
$5,000 Old Colony R. R. 1st 5's, 1945 ...
5,000.00
$5,000 Pacific Gas & Elec. 41/2's, 1957
5,000.00
$5,000 St. Paul, Minn. & Man. Ry. Cons. 4's, 1933 4,831.25
$13,000 U. S. Liberty Bonds 4th 41/2's, 1933-38
13,000.00
$2,000 Wisconsin Power & Light 5's, 1956
2,000.00
American Mfg. Co. Pfd. 72 shares 7,200.00
Home Bleachery & Dye Works, Pfd. 2 Shares 11.00
Sharp Mfg. Co. Pfd. 55 shares
2,035.00
Sharp Mfg. Co. Com. 20 shares 220.00
Andover Savings Bank 5,125.00
Charlestown Five Cent Savings Bank 5,125.00
Essex Savings Bank, Lawrence
5,125.00
Mechanics Savings Bank, Reading
10,908.52
First Nat'l Bank, Reading Savings Dept. 10,571.18
First Nat'l Bank, Reading
1,415.70
$146,348.15 $146,348.15
BALANCE SHEET DEC. 31, 1927 GENERAL ACCOUNTS
Cash in Banks and Office . . Taxes and Assessments Receivable Taxes, 1925
$ 22,849.59
Temporary Loans, Anticipation of of Revenue
$125,000.00
$ 521.10
Overlays Reserved for Abatements
Taxes, 1926
170.62
For 1925 Taxes
$ 521.10
Taxes, 1927
155,628.76
For 1926 Taxes
170.62
Moth Assessments, 1927
322.75
Fr 1927 Taxes
1,166.64
Sewer Assessments and In- terest
1,071.73
Overlay Reserve Fund
$ 2,303.94
Sewer Rentals
119.40
Moth Assessments Revenue
322.75
Departmental Accounts Receivable
$ 11,007.65
Sewer Rentals Revenue
119.40
Sewer Ass't Appor'd Rec. 1928-1936
7,708.43
Sewer Assessments due 1928-1936
7,708.43
Water Dept. Accounts Rec. ....
377.41
Departmental Accts. Rec. Revenue
11,007.65
Municipal Light Dept. Accounts Receivable ..
35,430.19
Mun. Light Dept. Accts. Rec. Rev.
35,430.19
Tax Titles Held by Town
7,936.90
Municipal Light Dept. Advanced
9,229.62
Municipal Light Dept. Cash
250.00
Water Dept. Cash
100.00
Sewer Dept. House Conn. Account
1,564.67
Overdrafts forward to 1828
Cemetery Reserve Fund
1,876.20
Smith-Hughes Fund
197.98
Temporary Aid
450.87
Water Bonds Premium
282.00
Soldiers' Relief
1,549.48
Appropriation Balance forward to 1928 :
Junior High School Building $ 776.79 Drainage System Survey 1,000.00
Drainage System Const. ...
1,041.55
$ 1,858.36
$157,834.36
Sewer Assessments Revenue
1,071.73
Water Dept. Accts. Rec. Revenue
377.41
Water Dept. Maintenance Acct. . Sewer Depts. Maint. and Const. 4,432.93 Account 12,848.16
Police Dept. Spec. Officers ..
$ 1,374.32
$ 3,374.67
School Land Survey and Esti-
mate for Ed. Adv. .. .
1,205.15
Forest Glen Cemetery . .... . Water Mains Extension .....
212.15
5,299.22
Planning Board Expenses ... .
192.03
$ 9,726.89
Insurance Account Special
200.00
Tax Titles Revenue ..
7,936.90
War Poll Tax Refund
4,069.82
Excess and Deficiency Account ..
27,763.41
$256,098.82
$256,098.82
DEBT ACCOUNTS
$667,900.00
Sewer Construction Loans
$159,000.00
Water Department Loans
70,000.00
Municipal Light Dept. Loans 95,900.00
Municipal Building Loans
20,000.00
Mun. Building and Library Loans
2,500.00
Brown Estate Loans .
2,500.00
School Building Loans .
300,000.00
School Building Loan Emergency
18,000.00
$667,900.00
$667,900.00
TRUST FUNDS
$194,953.41
Cemetery Bequest Fund
$ 43,427.77
George F. Buck Fund
83.22
Hospital Fund
146,348.15
Reading High School Scholarship Fund
5,094.27
$194,953.41
$194,953.41
Net Funded Debt
Trust Funds, Cash and Securities
254
GRACE V. VIALL, COLLECTOR Dr.
Amount uncollected, Dec. 31, 1926, account 1924 Tax $ 27.25
uncollected, Dec. 31, 1926, account 1925 Tax 1,708.19
Interest collected. account 1925 Tax 83.42
66 uncollected, Dec. 31, 1926, account 1926 Tax 145,439.15
Interest collected, account 1926 Tax
5,036.42
66 uncollected, Dec. 31, 1926, account 1926 Sewer 1,154.55
Interest collected, account 1926 Sewer 35.15
Poll Tax Warrants, June and Sept., 1927 5,414.00
66
General Tax Warrants, Sept. 22, 1927 513,269.39
953.00
66
Sewer Commitment for 1927
3,069.14
General Tax Warrant, Dec. 12, 1927
76.76
Interest collected, account 1927 Tax and Sewer .
398.35
66
uncollected sewer rentals, Dec. 31, 1926 423.00
Sewer Rentals, Jan. 1, 1927
3,747.00
Sewer Rentals, July 1, 1927
3,698.40
Interest on Sewer Rentals
12.18
Advanced payments on apportioned sewer and
interest
272.97
Sewer Betterment, Aug. 12, 1927
1,609.54
66 Costs and charges 747.75
Received account redemption property 590.31
$687,765.92
Moth Tax, Sept. 22, 1927
255
IN ACCOUNT WITH TOWN OF READING
Cr.
Amount abated account 1924 Tax
$ 27.25
paid Treasurer account 1925 Tax
983.73
abated account 1925 Tax 286.78
uncollected 1925 Tax
521.10
paid Treasurer account 1926 Tax
147,703.17
" abated account 1926 Tax
846.41
abated account 1926 sidewalk betterment 9.93
cancelled account 1926 Moth Tax
40.00
transferred to Tax Title account Tax and Sewer
1,714.86
uncollected account 1926 Tax 170.62
paid Treasurer account 1926 Sewer
1,180.28
paid Treasurer account 1927 Taxes
362,541.13
abated account 1927 Tax
1,616.38
unpaid account 1927 Tax
155,951.51
paid Treasurer account 1927 Sewer
1,999.89
unpaid account 1927 Sewer
1,071.73
paid Treasurer account 1926 Sewer Rentals
408.00
transferred to Tax Title account Rentals
15.00
66
paid Treasurer account 1927 Sewer Rentals
7,321.38
abated account 1927 Sewer Rentals
4.62
uncollected account 1927 Sewer Rentals
119.40
paid Treasurer account 1927 Sewer Betterment .
275.57
apportioned 1927 Sewer Betterment
1,333.97
paid Treasurer account costs and charges
603.50
paid Constable account costs and charges
144.25
paid Treasurer account redemption properrty
590.31
paid Treasurer account interest on sewer rentals
12.18
paid Treasurer advanced payments on apportioned
272.97
Sewer and Interest
$687,765.92
GRACE V. VAIL, Collector of Taxes.
Reading, Mass., Dec. 31, 1927.
Approved : Leon G. Bent, Town Accountant.
1926 Sewer
IN MEMORIAM Wilfred A. Bancroft Elected Town Treasurer March 3, 1924 Died March 16, 1927
257
REPORT OF TREASURER
For the Year Ended December 31, 1927
The transactions in the General Cash Account, in summary form, were as follows :
Balance January 1, 1927
$ 32,600.65
Receipts :
Grace V. Viall, Collector $523,892.11
Municipal Light Department 269,669.79
Water Department 50,820.89
Sewer Department
2,760.86
School Department
13,831.33
Cemetery Department
10,219.78
Other Departments
5,406.05
Interests on Deposits
2,614.31
Temporary Loans, Anticipation of Revenue
215,000.00
Temporary Loans, Anticipation of Bonds
60,000.00
..
Emergency Loan to Retire School Bonds
18,000.00
Sale of School Loan Bonds 330,000.00
Sale of Water Main Extension Bonds
15,000.00
Premium on Bonds Sold
5,169.30
Accrued Interest on Bonds Sold
73.33
Accrued Interest on Emergency Notes
Loan
3.51
Trust Funds, Bequest and Interest
7,928.57
Trust Funds for Re-investment
12,951.85
Commonwealth of Massachusetts, Taxes
56,283.86
Miscellaneous Receipts
21,142.22
Total Receipts
$1,620,767.76
$1,653,368.41
Disbursements :
Temporary Loans Paid $240,000.00
Payment of Notes Issued in Anticipation of School Loan Bonds
135,000.00
Notes and Bonds, Funded Debt
71,300.00
Interest on Funded Debt 22,644.50
Discount on Notes . 5,881.18
State Taxes and Assessments
37,800.11
258
County Tax 21,456.30
Other Disbursements 1,096,436.73
Total Disbursements
1,630,518.82
Balance December 31, 1927 22,849.59
$1,653,368.41
Bonds and Notes were issued as follows :
School Loan, 330,000.00 .@ 4%, payable $34,000.00 annually for nine years and $24,000.00 the tenth year.
Because of notes issued in anticipation of the School Loan these bonds were dated November 1, 1926. $34,000.00 of them were retired November, 1927.
Emergency notes for retirement of School Loan
Bonds due November, 1927 $ 18,000.00
Water Mains Extension Loan $ 15,000.00 4%, payable $1,000.00 annually, first payment due Sept. 15, 1928
FUNDED INDEBTEDNESS
Outstanding January 1, 1927 $376,200.00
Bonds and Notes issued as described above 363,000.00
$739,200.00
Bonds and Notes paid in 1927 71,300.00
Outstanding December 31, 1927 667,900.00
$739,200.00
NOTES ISSUED IN ANTICIPATION OF REVENUE
Outstanding January 1, 1927
$150,000.00
Notes issued in 1927 215,000.00
$365,000.00
Notes Paid in 1927
$240,000.00
Outstanding December 31, 1927 125,000.00
$365,000.00
NOTES ISSUED IN ANTICIPATION OF BONDS
For Walter S. Parker Junior High School .. $ 60,000.00
These notes, with $75,000.00 of like nature issued in 1926, were paid May 4, 1927, from the proceeds of the bond issue.
$689.74 was received from the Executors of the Gilman L. Parker Estate for the Hospital Fund.
A more detailed statement of receipts and disbursements and statements of the Trust Funds will be found in the report of the Town Accountant.
PRESTON F. NICHOLS, Temporary Treasurer.
259
REPORT OF THE PLANNING BOARD, 1927
To the Honorable Board of Selectmen:
Town of Reading, Massachusetts.
We herewith submit our report for year 1927. Mr. Melville Weston, Chairman of the Board, and Mr. Willard Adden resigned. They were suc- ceeded by Mr. Harold W. Putnam and Mr. Winthrop D. Parker. Mr. W. Franklin Burnham was elected Chairman and Mrs. Harriette P. Leuchtman Secretary. The Board being as follows:
W. Franklin Burnham, Chairman Mrs. Harriette P. Leuchtman, Secretary Harry C. Barr Harold W. Putnam Winthrop D. Parker
The Board held twenty-seven meetings, having also joint meetings with the Board of Public Works, Board of Selectmen, Safety Council, Special Commission to Consider Needs of Reading for next 10 years, and officials of the Eastern Massachusetts Street Railway. It also has had conferences with other citizens of the town, officials of the Light Department, Chair- man of the Metropolitan Planning Board, and solicited suggestions from the Board of Trade.
In 1926 the Board considered the rearrangement of the Common and widening of Main Street. At the beginning of the year 1927 the Board made a survey of Reading's immediate needs and problems that would confront the town in a few years, and decided, we trust wih good wis- dom, that Reading Square was the most perplexing problem and unless given serious consideration by the citizens of the town immediately, it would in a very few years cost the town many thousands of dollars more than it would now cost to make these improvements.
Plans were made by Warren H. Manning and drawings by the late Albert R. Shepardson, and several citizens offered suggestions. After studying and duly visualizing the conditions, we made a traffic count by automatic counters for two days on all streets except Pleasant Street on Saturday, June 25th, and Sunday, June 26th, 1927. The count was from 8 A. M. to 8 P. M., and was made in relays by the Boy Scouts of Reading under the direction of Mr. Mahlon G. Nash, to whom we are greatly indebted.
Results from studies, traffic counts and personal surveys showed serious conditions at the intersection of Haven, Ash and Main Streets; at Woburn Street crossing Lowell, cutting Common, crossing Main Street and intersecting Harnden; and at Salem Street off Lowell across head of Com- mon, cutting Main Street and intersecting at a dangerous grade with Harnden Street. With the suggestions made by others as a basis the
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Board has developed a plan for bettering conditions in and near the Square, and trust we shall be able to place same before the citizens for their action at a near date.
We recommend a taking of real estate from Haven St. (Masonic Block) to line of properties of Messrs. Bacigalupo and Chamberlain, widening Main Street from 75 feet to 105 feet and other streets as follows: Lowell Street on Common side; Main Street on both sides of Common; Harnden Street on Common side; and closing Salem Street from Main to Harnden street; also closing Salem Street to public travel in front of Old South Church, narrowing said street but leaving gateways, and having the Common extended further north, leaving a larger area in Square with central directing station, directing all lines of traffic around same and synchronizing a signal system which will direct traffic at the Square, Haven and Washington Streets.
Provision is made for re-locating street railways with single track and safety zone, so that electric car passengers may arrive and depart on one side and bus passengers on opposite side.
We recommend a water main on each side of street so traffic will not be held up in case of fire. Also all telephone and electric wires be under- ground from Haven Street to Old South Church (Note: New England Telephone Company has agreed to lay underground conduit at its own expense.) We also recommend 32 ornamental light standards, and that the town assess a betterment tax over all property bettered, tax to be spread over a period of ten years.
We are unable to report and submit costs and betterment estimates owing to delay of the Eastern Massachusetts Street Railway Company. We have been in negotiation with them since July 15th; they have made several plans for re-locating tracks, and the situation has been complicated by the street railway company being in hands of trustees. Under the law they are not obliged to re-locate tracks at their own expense.
We are hopeful of their having one line of tracks with single post arm support for trolley and that they will re-locate with new tracks and ties at their expense and town bear expense of paving.
Until this decision is made we are unable to place this project before your Board for action by the citizens, much to our regret. Favorable Factors to Consider :
That only 10% of the cost goes in general tax levy.
That 90% of its cost is assessed on property increased in value. That this betterment tax can be paid over a period of ten years. That the cost will be less today than next year or five years from now. That if a substantial block should be constructed where widening is proposed, the damage takings would be greatly increased.
That where taking is made on Main Street there is plenty of land in
the rear of practically no value now to take the place of what is
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used to widen street.
That local traffic will not be affected by through traffic.
That through traffic will not be affected by local traffic.
Parking may be done at an angle of 30 degrees, not only increasing parking area but greatly facilitating parking. Getting in and out without interfering with through traffic, and also increasing shopping facilities. A new store development will succeed in place of principally old and unattractive buildings, long a reflection on the town. All realty in the town will be greatly appreciated, increasing particularly incomes and valuations in the business center by this improvement.
There is also the psychological effect unfavorable to the town in general that was caused by these deteriorating conditions on our main busi- ness thoroughfares. The estimated expense is in the vicinity of $165,000, which will include damage takings, and of which $16,500, or ten per cent, would go into the general tax levy of the town, plus the cost of financing, pending re-payment of betterment taxes. The tax rate should not be affected much over one dollar. Unsightly poles and dangerous overhead wires would be removed; ornamental lighting standards would furnish an up-to-date white way, replacing antiquated lighting devices
Traffic movement would be considerably speeded up by the elimination of two cross streets and better directed under synchronized signal system, thus reducing police service in this central business section during the touring season. Pedestrians would be better protected, and the hazard of property damage and accidents greatly reduced.
The aggravating and dangerous condition at the bottleneck, at the intersection of Haven and Main Streets, would be greatly relieved, as a proper curve would be established on the corner of the Masonic Block. As it is now, traffic is held back at the Main Street crossing every time a passenger or freight train passes; and it is not an uncommon occurrence for fifty or one hundred cars to be held up and then come through in a bunch and be held up again at this bottleneck intersection with Haven Street.
An opportunity is offered if deemed advisable by the town for the development of a new street from Main Street to Sanborn Street, develop- ing an arcade shopping center and a parking area in this large back area now valueless, which would materially increase valuations.
Unsightly advertising signs would be removed.
UNFAVORABLE FACTORS TO CONSIDER
Tax increase of about one dollar.
Disturbing tenants of four properties affected.
Loss of income and inconvenience of tenants in building improvements. Opposition of property owners in affected territory to a betterment tax.
Possibility that owners of property affected do not care to rebuild new buildings.
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TRAFFIC COUNT IN READING SQUARE Saturday, June 25th, 1927 8 A. M. to 8 P. M.
So. Main St., North 4124 Highest Peak 7.30 to 8.00 o'clock A. M. 274
No. Main St., South 3485 Highest Peak 3.00 to 3.30 o'clock P. M. 432
Salem St., South 2206 Highest Peak 3.00 to 3.30 o'clock P. M. 147
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