USA > Massachusetts > Middlesex County > Reading > Town of Reading Massachusetts annual report 1931 > Part 21
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Schedules
"1"-Comparative Detailed Statement of Income for the 12 months ended December 31, 1931-December 31, 1930.
"2"-Comparative Detailed Statement of Operating Expenses for the 12 months ended December 31, 1931-December 31, 1930. "3" -- Detail of Bonds and Notes Authorized, Issued and Outstand- ing December 31, 1931.
"4"-Comparative Gross Revenue by Towns for the 12 months ended December 31, 1931.
"5"-Detail of Kilowatt Hours Bought, Sold, Used and Unac- counted for-12 months ended December 31, 1931.
In explanation of certain accounts and the extent of our ex- amination, we wish to offer the following comments :
Plant Investment-$490,939.78.
The net additions to plant investment accounts amounting to $76,546.40 for the year ended December 31, 1931 are classified as follows :
Electric Plant Steam $ 1,291.45
Poles, Fixtures and Overhead Conductors 22,297.80
Underground Conduits and Conductors 37,271.34
Consumers' Meters and Installations
1,906.75
Line Transformers and Installations 5,183.44
Street Lighting Equipment-Regular 119.04
Street Lighting Equipment-Special
8,476.58
Total Additions $ 76,546.40
As a result of a series of tests made by us, we are satisfied that the charges to plant investment accounts represent proper capital ad- ditions.
We believe a more permanent detailed record of capital expendi- tures should be kept to facilitate and more accurately account for re- tirement book value of property when replacements are made.
Depreciation charges for 1931 amounted to $30,609.33, the basis being 4 per cent of the cost of Plant Investment as at the beginning of the year. As it is the practice of this department to apply deprecia- tion directly to the asset account, the amounts shown in Exhibit "A" represent depreciated values.
254
General Equipment-$16,433.88.
This represents the inventory value of various equipment as of December 31, 1931. Equipment accounts as shown in Exhibit "A" repre- sent the adjusted book values which conform with the inventories furnished us.
Unfinished Construction-$135.00
The cost of plans for the proposed 4,000 volt-switching equip- ment is represented by this account.
Operating, Depreciation and Special Construction Funds-$4,249.22.
These funds were on deposit with the Town Treasurer as of December 31, 1931, and the balances were certified as correct by the Town Accountant. The balances of the various funds are shown in detail in Exhibit "A".
Expenditures as shown by "Bills Approval Sheets" were ex- amined and the totals checked to the Cash Book.
Petty Cash Fund-$250.00.
The various funds constituting this amount are used for the purpose of making change and payment of petty office expenses. All cash in the hands of cashiers was counted; the result of which was as follows :
Cash and Checks on Hand $ 524.87
Receipts properly signed
14.04
Collectors' Fund (not counted)
10.00
Total
$ 548.91
Receipted Bill Stubs
299.25
Balance
$ 249.66
Shortage
.34
Fund
$ 250.00
Consumers' Deposit Fund-$6,978.75.
This amount represents funds on deposit in the Mechanic Sav- ings Bank, which were received from various consumers to guarantee payment of bills due this Department. Verification of the above bal- ance was made by examination of pass book which shows a balance sufficient to care for Consumers' Deposit Liability.
Accounts Receivable-Consumers' $21,517.54
The balances of individual consumers' ledger cards were com- pared with schedules furnished us by the Department and the total due from consumers as shown by these schedules was found to con- form with the above amount.
255
During 1931, uncollectible accounts in the amount of $956.77 were charged off and there remained on the books $2,635.80 or 12.2 per cent of the total due from this class of receivables which were ninety days or more in arrears.
No direct verification was made with consumers.
Accounts Receivable-Miscellaneous $10,139.58.
Balances due from customers as per schedule furnished us on account of miscellaneous receivables were compared with the indi- vidual customer's accounts; the total of this schedule was found to agree with the above balance.
It appeared that there were accounts amounting to $4,287.41 ninety days or more in arrears in addition to $1,133.84 which were charged off as uncollectible.
We renew our recommendation of last year in regard to the recording of installment sales on appropriate ledger accounts, with full information necessary to reflect the terms of the sale in order to have readily available the exact status of each account.
Materials and Supplies-$58,890.17
Inventories of the various supply accounts, taken by the Depart- ment employees were presented to us already priced and extended, and the books of account were adjusted to conform with these in- ventories.
Insurance Premiums-Unexpired-$1,222.42
This represents the unexpired portion of insurance premiums as of December 31, 1931 computed from policies furnished us or in the possession of the Town Treasurer.
Appropriation for Construction-$30,678.26
No appropriation from general tax levy for construction pur- poses was made during the year.
Bonds Payable-$96,500.00
There were bonds amounting to $13,000.00 retired during the year.
Serial bonds in the amount of $40,000.00 were issued during the year, which are dated April 15, 1931, bearing interest at 3 1-2 per cent per annum, and maturing within twenty years.
This issue provides that a par value of $2,000.00 shall be retired each year commencing April 15, 1932.
Verification of bonds outstanding as of December 31, 1931 was made with the Town Treasurer's records. Detail of the various is- sues is shown in schedule "3".
256
Accounts Payable-$36,222.94
A schedule of unpaid creditors' accounts, as of December 31, 1931 was furnished us, the total of which agreed with the General Ledger Control.
These invoices are aged as follows :
December Invoices $ 21,472.75
November Invoices 12,176.89
October Invoices 2,573.30
Total
$ 36.222.94
Consumers' Deposits-$6,978.75.
Individual deposit cards were examined and the total of these balances agreed with the control.
Interest on these deposits appeared to have been credited to consumers' accounts, at the rate of 4 per cent per annum, for such deposits as had been in the custody of the Department for six months or more.
Interest Accrued on Bonds-$801.59
This represents the interest accrued but not due on the balance of the various issues, as shown in schedule "3".
Other Accrued Items-$250.00
This represents a loan from the Town Treasurer which is used by the Department for petty cash purposes. At the beginning of the year there was due the Town Treasurer $14,225.81, of which $13,975.81 was paid off during 1931.
Bond Premiums-$354.54
Premiums received from bonds issued are as follows :
1930 issue of $15,000 18.54
1931 issue of $40,000.00 336.00
Total $ 354.54
The money from these premiums is in operating cash and should be used at the time of the first retirement of bonds from the specific issue.
Loans Repayment-$317,400.00
The increase in this account during the year represents bonds retired amounting to $13,000.00 as shown in Schedule "3".
Profit and Loss-$121,570.26
An analysis of this account is shown in Exhibit "C". There ap- pears to be a net profit of $23,771.03 which, after deducting the bonds retired, reflects a net addition to this account of $10,771.03.
257
Operating Revenue-$277,008.61
This class of revenue shows an increase of $9,674.05 over 1930.
Operating Expenses-$241,459.49
These expenses show an increase of $8,459.08 over 1930.
General Comments
The Department had discounted leases outstanding at the Malden Morris Plan Co. for $4,048.67, representing a contingent liability as of December 31, 1931.
The bond coverage of all employees seemed to be adequate.
We renew our recommendation of last year in regard to stock control.
It is also apparent that the cost of the various specific construc- tion projects is not available in such form, as would be the result ob- tainable from a work order system.
Respectfully submitted,
CHARLES E. STANWOOD AND SONS, INC.
TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE BALANCE SHEET December 31, 1931-December 31, 1930 ASSET ACCOUNTS
1931
1930
Increase Deceased*
Plant Investments:
111
Land
$ 2,575.80
$ 2,575.80
$ 0.00
113
Structures
35,190.51
36,075.56
885.05*
114
Boiler Plant Equipment . ..
22,312.91
25,100.78
2,787.87*
115
Prime Movers & Auxiliaries
9,324.27
10,484.81
1,160.54*
116
Turbo-Generator Units
14,345.32
16,220.15
1,874.83*
117
Electric Plant-Steam
31,583.82
32,478.68
894.86*
125
Poles, Fixtures and Overhead Conductors
230,757.11
223,358.20
7,398.91
126
Underground Conduits
21,261.27
0.00
21,261.27
127
Underground Conductors
16,010.07
0.00
16,010.07
128
Consumers' Meters
38,343.30
39,336.50
993.20*
129
Consumers' Meter Install's
6,527.53
6,520.11
7.42
130 Line Transformers
42,584.80
40,223.75
2,361.05
131 Transformer Installations
4,257.14
4,283.96
26.82*
132 Street Lighting Equipment
15,703.40
8,164.72
7,538.68
133
Consumers' Premises Equip.
162.53
179.69
17.16*
TOTAL PLANT INVESTMENT
$490,939.78 $445,002.71 $45,937.07
258
General Equipment:
150 Office Equipment
$ 8,491.56
$ 8,426.31
$ 65.25
152 Stores Equipment
659.58
596.16
63.42
153 Transportation Equipment
4,029.00
5,961.00
1,932.00*
154 Laboratory Equipment
1,395.56
1,384.42
11.14
155
Miscellaneous Equipment
1,858.18
2,035.38
177.20*
TOTAL GENERAL EQUIPMENT
$16,433.88
$18,403.27
$ 1,969.39*
201 Unfinished Construction . .
$ 135.00
$ 0.00
$ 135.00
TOTAL INVESTMENTS
$507,508.65
$463,405.98 $44,102.68
Current Assets:
204-1
Operating Fund
$ 413.45
$ 0.00
$ 413.45
204-3 Petty Cash Fund
250.00
250.00
0.00
204-4 Construction Fund Spec. '30
2,051.37
5,109.12
3,057.75*
205-1 Depreciation Fund
1,784.40
1,451.40
333.00
205-2 Consumers' Deposit Fund
6,978.75
5,904.75
1,074.00
207-1 Accounts Rec .- Consumers'
21,517.54
20,355.79
1,161.75
207-2
Accts. Receivable Miscel.
10,139.58
13,291.15
3,151.57*
209-1
Materials and Supplies- General
31,772.71
29,464.28
2,308.43
2 Station Tools & Appliances
410.09
391.91
18.18
3 Distrib. Tools & Appliances
5,053.89
3,236.82
1,817.07
4 Printing & Office Supplies
768.00
837.70
69.70*
5 Lamps and Appliances
ยท 19,834.93 .
23,296.85
3,461.92*
6 Coal Supplies
613.67
641.67
28.00*
9 Station Supplies
436.88
453.07
16.19*
TOTAL CURRENT ASSETS - $102,025.26 $104,684.51 $ 2,659.25*
Prepaid Items:
214 Prepaid Insurance
. . $ 1,222.42
$ 882.94 $
339.48
GRAND TOTALS
$610,756.34 $568,973.43 $41,782.91
259
EXHIBIT "A" LIABILITY ACCOUNTS
1931
1930
Increase Decrease*
Appropriations:
301 Appropriations for Construct. $ 30,678.26 $ 30,678.26
$ 0.00
Bonds and Notes Payable:
305 Bonds Payable
$ 96,500.00 $ 69,500.00
$27,000.00
306 Notes Payable
0.00
0.00
0.00
TOTAL BONDS AND NOTES
$ 96,500.00
$ 69,500.00
$27,000.00
Current Liabilities:
308 Accounts Payable
$ 36,222.94 $ 32,781.02
$ 3,441.92
309 Consumers' Deposits
6,978.75
5,904.75
1,074.00
TOTAL CUR. LIABILITIES . .
$ 43,201.69
$ 38,685.77
$ 4,515.92
Accrued Items:
314 Interest Accrued on Bonds and Notes
$ 801.59
$ 665.82
$ 135.77
315 Other Accrued Items-Loan Due-Town Treasurer
250.00
14,225.81
13,975.81*
TOTAL ACCRUED ITEMS . .
$ 1,051.59
$ 14,891.63
$13,840.04*
Unadjusted Credits:
316 Premium on Bonds
$ 354.54
$ 18.54
$ 336.00
Appropriated Surplus:
322 Loans Repayment
$317,400.00 $304.400.00
$13,000.00
Profit and Loss:
400 Profit and Loss Balance (See Exhibit "C")
$121,570.26 $110,799.23 $10,771.03 NOTE :
As at December 31, 1931 there was a contingent lia- bility in the form of Leases Discounted amounting to $4,048.67.
GRAND TOTALS
$610,756.34 $568,973.43 $ 41,782.91
EXHIBIT "B" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE STATEMENT OF OPERATIONS FOR THE TWELVE MONTHS ENDED DECEMBER 31, 1931-DECEMBER 31, 1930
Revenue from Sales-Electric Energy:
1931
1930
Increase Decrease*
1931
1930
501 Metered Sales-Residence Lighting
$158,829.68 $143,571.90
$ 15,257.78
57.3%
53.7%
501 Metered Sales-Commercial Lighting
36,952.47
34,599.15
2,353.32
13.4
12.9
501 Metered Sales-Commercial Heating
7,958.15
6,942.82
1,015.33
2.8
2.6
501. Metered Sales-Wholesale Power
10,348.38
18,538.47
8,190.09*
3.8
6.9
501 Metered Sales-Retail Power
32,603.01
33,804.59
1,201.58*
11.8
12.7
505 Sales to Other Companies
502.98
507.24
4.26*
.2
.2
505
Street Lighting
27,194.75
25,957.92
1,236.83
9.8
9.7
505 Municipal Buildings-Light and Power
2,370.05
2,969.37
599.32*
8
1.2
TOTAL REVENUE FROM SALES-ELEC. ENERGY
$276,759.47
$266,891.46
$ 9,868.01
99.9
99.9
508 Rent from Property used in. Operations
249.14
443.10
193.96*
1
1
TOTAL OPERATING REVENUE
$277,008.61
$267,334.56
$ 9,674.05
100.0
100.0
Electric Operating Expenses:
I Production
$ 80,091.66
$ 79,991.86
$ 99.80
28.9%
29.9%
II Transmission and Distribution
73,548.66
67,613.02
5,935.64
26.6
25.3
III Utilization
10,953.83
10,151.88
801.95
3.9
3.8
IV Commercial
. 14,613.15
14,200.66
412.49
5.2
5.3
V New Business
2,590.69
3,691.30
1,100.61*
.9
1.4
Ratios
VI General and Miscellaneous
59,651.50
57,351.69
2,309.81
21.5
21.5
TOTAL OPERATING EXPENSES
$241,459.49
$233,000.41
$ 8,459.08
87.0
87.2
NET OPERATING REVENUE
$ 35,549.12
$ 34,334.15
$ 1,214.97
13.0%
12.8%
Deductions:
550 Uncollectible Operating Revenue
$ 2,090.61
$ 1,731.56
$ 359.05
551 Taxes Assignable to Electric Operations
818.25
810.23
8.02
TOTAL DEDUCTIONS
$ 2,908.86
$ 2,541.79
$ 367.07
NET OPERATING INCOME
$ 32,640.26
$ 31,792.36
$ 847.90
Non-Operating Income:
563 Interest Income
$ 103.96
$ 104.89
$ .93*
566 Miscellaneous Non-Operating Income
737.98
0.00
737.98
TOTAL NON-OPERATING INCOME
$ 841.94
$ 104.89
$ 737.05
TOTAL INCOME
$ 33,482.20
$ 31,897.25
$ 1,584.95
Deductions from Total Income:
560 Merchandise and Jobbing Loss
$ 5,947.07
$ 2,543.33
$ 3,403.74
576 Interest on Bonds and Notes
3,764.10
3,148.66
615.44
TOTAL DEDUCTIONS FROM INCOME
$ 9,711.17
$ 5,691.99
$ 4,019.18
NET INC .- TRANSFERRED TO PROFIT AND LOSS EXHIBIT "C"
$ 23,771.03
$ 26,205.26 $ 2,434.23*
262
EXHIBIT "C" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE ANALYSIS OF PROFIT AND LOSS For the Twelve Months Ended December 31, 1931-December 31, 1930
1931
1930
Increase Decrease*
Balance-Beginning of Year
$110,799.23 $ 97,393.97
$ 13,405.26
Additions:
Net Income-Transferred from Statement of Operations-Ex-
hibit "B"
23,771.03
26,205.26
2,434.23*
$134,570.26 $123,599.23 $ 10,971.03
Deductions:
Bonds Retired
$ 13,000.00
$ 11,500.00
$ 1,500.00
Notes Retired
0.00
1,300.00
1,300.00*
TOTAL DEDUCTIONS
$ 13,000.00
$ 12,800.00 $
200.00
Balance-End of Year
$121,570.26 $110,799.23 $ 10,771.03
(See Exhibit "A")
Net Increase in Profit and Loss for
Year
$ 10,771.03 $ 13,405.26 $ 2,634.23*
SCHEDULE "1"
TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE DETAILED STATEMENT OF INCOME For the Twelve Months Ended December 31, 1931-December 31, 1930.
1931
1930
Increase Decreased*
Meterjed Sales-Residence Lighting:
Reading
$ 90,281.66
$ 83,174.15
$ 7,107.51
Lynnfield Center
12,623.41
10,787.54
1,835.87
North Reading
19,828.90
16,948.79
2,880.11
Wilmington
36,095.71
32,661.42
3,434.29
Total Res. Lighting Income
$158,829.68
$143.571.90 $ 15,257.78
263
Metered Sales-Commercial Lighting
Reading
$ 25,005.50 $ 23,178.51
$ 1,826.99
Lynnfield Center
1,372.32
1,451.46
79.14*
North Reading
3,736.70
3,693.84
42.86
Wilmington
6,837.95
6,275.34
562.61
Total Com. Lighting Income $36,952.47 $ 34,599.15
$ 2,353.32
Metered Sales-Commercial Heating:
Reading
$ 5,063.29
$ 4,230.84
$ 832.45
Lynnfield Center
498.82
397.59
101.23
North Reading
935.56
1,144.60
209.04*
Wilmington
1,460.48
1,169.79
290.69
Total Com. Heating Income
$ 7,958.15 $ 6,942.82 $
1,015.33
Metered Sales-Wholesale Power:
Reading
$ 8,739.71
$ 7,744.23
$ 995.48
Lynnfield Center
0.00
0.00
0.00
North Reading
1,573.27
785.55
787.72
Wilmington
35.40
10,008.69
9,973.29*
Total Wholesale Power Inc. $ 10,348.38
$ 18,538.47
$ 8,190.09*
Metered Sales-Retail Power:
Reading
$ 28,553.55 $ 29,910.81
$ 1,357.26*
Lynnfield Center
560.01
441.59
118.42
North Reading
1,938.07
2,237.40
299.33*
Wilmington
1,551.38
1,214.79
336.59
Total Retail Power Inc.
$ 32,603.01 $ 33,804.59
$ 1,201.58*
Sales to other Electric Companies:
Wakefield
$ 180.11
$ 200.80
$ 20.69*
Lowell
82.39
111.86
29.47*
Lawrence
185.28
139.80
45.48
Peabody
7.92
6.54
1.38
Edison Elec. Illum. Co. of Bos.
47.28
48.24
.96
Total Sales to Other Cos. $ 502.98 $ 507.24 $ 4.26*
264
Municipal Revenue:
Strect Lighting:
Reading
$ 13,500.00 $ 12,000.00
$ 1,500.00
Lynnfield Center
2,301.81
2,197.17
104.64
North Reading
4,168.29
4,103.99
64.30
Wilmington
7,224.65
7,656.76
432.11*
Total Street Lighting, Inc. $ 27,194.75 $ 25,957.92
$ 1,236.83
Buildings:
Lighting
$ 2,104.56
$ 1,915.72
$ 188.84
Power
265.49
1,053.65
788.16*
Total Inc .- Municipal Bldgs. $ 2,370.05 $
2,969.37
$ 599.32*
Total Income from Sales- Electric Energy (See Ex-
hibit "B")
$276,759.47 $266,891.46 $ 9,868.01
Schedule "2"
TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE DETAILED STATEMENT OF OPERATING EXPENSES
For the Twelve Months Ended December 31, 1931-December 31, 1930
1931
1930
Increase Decrease*
I Production Expenses:
601 Superintendence and Lab.
$ 0.00
$ 62.33
$ 62.33*
606 Boiler Fuel
0.00
0.00
0.00
607 Water for Steam
11.95
23.50
11.55*
608 Lubricants
3.68
7.47
3.79*
609 Station Supplies
969.96
1,215.48
245.52*
611 Maint. of Station Strucs.
126.70
432.91
306.21*
Equipment
143.36
15.00
128.36
613 Maint. of Steam Engines
384.98
0.00
384.98
614 Maint. of Turbo-Generator Units
48.38
0.00
48.38
615 Maint. of Elec. Generator Equipment
0.00
23.11
23.11*
/ 616 Maint. of Accessory Elec. Equipment
169.79
60.99
108.80
612 Maint. of Boiler Plant
265
617 Maint. of Miscell. Power Plant Equipment
2.60
0.00
2.60
634 Elec. Energy Purchased ..
78,230.26
78,151.07
79.19
Total Production Expenses
$ 80,091.66
$ 79,991.86
$ 99.80
Increase
1931
1930
Decrease*
II Transmission and Distribution Expenses:
636 Transformer Station and Sub Station Superin- tendence and Labor .. $ 8,825.29 $ 8,688.23
$ 137.06
637 Transformer Station and Sub Station Supplies and Expense
7,271.07
7,218.17
52.90
638 Operation of Transmission and Distribution Lines
28,914.56
21,831.76
7,082.80
639 Transmission and Distri- bution Supplies and Expense
224.37
251.83
27.46*
640 Inspecting and Testing
Meters
1,614.73
2,804.09
1,189.36*
641 Removing and Resetting Meters
1,845.77
2,515.50
669.73*
642 Removing and Resetting Transformers
483,83
494.08
10.25*
646 Maintenance of Trans- former Station and sub- Station
13.64
13.64*
647 Maintenance of Trans- mission and Distribu- tion Lines
23,857.55
22,145.39
1,712.16
650 Maintenance of Consu-
mers' Meters
268.02
614.09
346.07*
651 Maintenance of Trans-
formers
243.47
1,036.24
792.77*
Total Transmission and Distribution Expenses $ 73,548.66 $ 67,613.02 $ 5,935.64
266
Total Production, Trans- mission and Distribu- tion Expenses
$153,640.32
$147,604.88 $ 6,035.44
1931
1930
Increase Decrease*
III Utilization Expenses:
654 Municipal Street Lamps- Labor
$
1,831.19
$ 1,209.65
$ 621.54
655 Municipal Street Lamps- Supplies and Expenses
2,837.40
1,204.85
1,632.55
657 Maintenance of Municipal Street Lamps
912.84
1,664.73
751.89*
659 Maintenance of Consu-
mers' Installations ....
5,372.40
6,072.65
700.25*
Total Utilization Expenses $ 10,953.83
$ 10,151.88
$ 801.95
IV Commercial Expenses:
660 Commercial Salaries
$ 11,298.09 $ 10.575.07
$ 723.02
661 Commercial Supplies and Expenses
3,315.06
3,625.59
310.53*
Total Commercial Ex
penses
$ 14,613.15 $ 14,200.66
$ 412.49
V New Business Expenses:
662 New Business Salaries . .
$
2.92
$ 163.33
$ 160.41*
663 New
Business
Supplies
and Expenses
-. 00
68.34
68.34*
664 Advertising
2,587.77
3,459.63
871.86*
Total New Business Ex-
penses
$ 2,590.69
$ 3,691.30
$ 1,100.61*
VI Miscellaneous and General Expenses:
666 Salary of Manager
$ 6,095.00
$ 5,842.51
$ 252.49
667 Salaries of General Office Clerks
4,622.00
4,561.33
60.67
668 General Office Supplies
and Expenses
853.79
1,466.55
612.76*
267
669 General Office Rents
1,014.75
1,111.88
97.13*
671 Insurance
5,154.61
5,391.74
237.13*
673 Accidents and Damages ..
2.75
62.89
60.14*
674 Store Expenses . ..
3,875.81
4,093.21
217.40*
675
Transportation Expense
2,110.64
3,229.11
1,118.47*
676
Inventory Adjustments ..
4,217.25
1,716.26
2,500.99
677
Maintenance of General
Structures
403.37
539.00
135.63*
678
Depreciation
30,609.33
29,064.82
1,544.51
679 Miscellaneous General Ex-
pense
702.20
272.39
429.81
Total Miscellaneous and
General Expenses .... $ 59,661.50 $ 57,351.69 $ 2,309.81
Total Operating Expenses $241,459.49
$233,000.41
$ 8,459.08
(See Exhibit "B")
Note: There were 53 payrolls in 1931 and 52 in 1930.
TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT BONDS AND NOTES AUTHORIZED, ISSUED AND OUTSTANDING DECEMBER 31, 1931.
BONDS :
SCHEDULE "3"
Issue
No. Of
Authorized
Date
Issued
Date
Original Issue
Amount of
Principal
Payments of
Interest
Rate of
Payable
Interest
Jan. 1, 1931
Retired to
Amount
Amount
31, 1931
standing Dec.
Balance Out-
Interest Dec.
Accrued
1 August
1894
10-1-1894 $ 50,000.00
$1000 yearly 10 yrs
4% April 1-Oct. 1 $ 50,000.00
$ 0.00
$
0.00 $
0.00
2000 yearly
20
yrs
2 May
1907
10-1-1907
26,000.00
1000 yearly
26
yrs
41/2 April 1-Oct. 1
23,000.00
1,000.00
2,000.00
22.50
3 June
1911
7-15-1911
20,000.00
2000 ycarly
10
yrs
4 Jan. 15-July 15
20,000.00
0.00
0.00
0.00
4 August
1913
10-15-1913
23,500.00
1500 yearly
9
yrs
41/4 April 15-Oct. 15
21,500.00
1,000.00
1,000.00
8.85
1000 yearly
10 yrs
5
September
1914
9-15-1914
8,000.00
500 yearly
16
yrs
11/2 March 15-Sept. 15 8,000.00
0.00
0.00
0.00
6
March
1916
5-15-1916
10,000.00
500 yearly
20
yrs
4
Nov. 15-May 15
7,000.00
500.00
2,500.00
12.51
7
March
1917
10-1-1917
55,000.00
3000 yearly
18
yrs
41/2 April 15-Oct. 15
39,000.00
3,000.00
13,000.00
121.87
1000 yearly
1
yr.
8 October
1918
1-1-1919
12,000.00
1000 yearly
4
yrs
41/2 Jan. 1-July 1
7,500.00
500.00
4,000.00
90.00
500 yearly
16
yrs
9 March
1919
4-1-1919
20,000.00
1000 yearly
20 yrs
43/4 Oct. 1-April 1
11,000.00
1,000.00
8,000.00
95.00
10
March
1920
5-1-1920
20,000.00
1000 yearly
20
yrs
5 Nov. 1-May 1
10,000.00
1,000.00
9,000.00
75.00
11
December
1923
12-1-1923
10,000.00
1000 yearly
10
yrs
41/2 June 1-Dec. 1
7,000.00
1,000.00
2,000.00
7.50
12
March
1926
8-1-1926
13,000.00
3000 yearly
1
yr.
4 Feb. 1-August 1
9,000.00
2,000.00
2,000.00
33.35
13
March
1930
6-1-1930
15,000.00
2000 yearly
5
yrs
4 June 1-Dec. 1
0.00
2,000.00
13,000.00
43.34
1000 yearly
5
yrs
14
March
1931
4-15-1931
40,000.00
2000 yearly
20
yrs
312 Oct. 15-April 15
0.00
0.00
40,000.00
291.67
TOTAL BONDS
$322,500.00
$213,000.00
$ 13,000.00
$ 96,500.00
$ 801.59
1931
Retired During
31, 1931
2000 yearly
5 yrs
NOTES :
1 March
1895
5-1-1896 $ 7,000.00
$ 1400 yearly 5 yrs
4%
Nov. 1-May 1 $ 7,000.00
$ 0.00
$
0.00 $
0.00
2 March
1896
5-1-1896
7,000.00
1400 yearly
5
yrs
4 Nov. 1-May 1
7,000.00
0.00
0.00
0.00
3
December
1896
12-9-1896
1,500.00
1500 yearly 1 yr.
4 June 9-Dec. 9
1,500.00
0.00
0.00
0.00
4
March
1898
7-15-1898
3,000.00
1000 July 15, 1901
33/4 Jan. 15-July 15
3,000.00
0.00
0.00
0.00
2000 July 15, 1904
5
March
1903
12-7-1903
1,400.00
1400 Dec. 7, 1906
4 June 7-Dec. 7
1,400.00
0.00
0.00
0.00
6
March
1909
11-15-1909
2,500.00
1000 Nov. 15, 1910
4
May 15-Nov.
15
2,500
0.00
0.00
0.00
7 Nov.
1909
1-21-1910
1,800.00
1800 Jan. 3, 1913
4 July 21-Jan. 21
1,800.00
0.00
0.00
0.00
8 Jan.
1910
3-27-1910
12,000.00
1000 yearly 12 yrs
4
Sept. 27-Mar. 27
12,000.00
0.00
0.00
0.00
9
June
1911
7-2-1911
2,200.00
2200 July 12, 1912
4
Jan. 12-July 12
2,200.00
0.00
0.00
0.00
10
March
1913
4-16-1913
13,500.00
1500 yearly
9
yrs
41/4
Oct. 16-April 16 13,500.00
0.00
0.00
0.00
11
March
915
5-15-1915
12,000.00
800 yearly
15
yrs
4 Nov. 15-May 15
12,000.00
0.00
0.00
0.00
12
March
1915
7-15-1915
4,000.00
500 yearly
8
yrs.
4 Jan. 15-July 15
4,000.00
0.00
0.00
0.00
13
March
1917
9-22-1917
6,500.00
500 yearly
13
yrs.
5 Mar. 22-Sept. 22
6,500.00
0.00
0.00
0.00
14
Nov.
1919
11-20-1919
3,000.00
1500 yearly
2
yrs.
5 May 20-Nov. 20
3,000.00
0.00
0.00
0.00
15
March
1921
7-1-1921
7,000.00
1000 yearly
7
yrs.
6 Jan. 1-July 1
7,000.00
0.00
0.00
0.00
16 Dec.
1922
12-15-1922
7,000.00
1000 yearly
7 yrs.
41/4 June 15-Dec. 15
7,000.00
0.00
0.00
0.00
TOTAL NOTES
$91,400.00
$ 91,400.00
$304,400.00 $ 13,000.00
$ 96,500.00
$ 801.59
TOTAL BONDS AND NOTES $413,900.00
1500 Nov. 15, 1911
SCHEDULE "4" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE GROSS REVENUE BY TOWNS For the Twelve Months Ended December 31, 1931-December 31, 1930
READING
LYNNFIELD
NORTH READING
WILMINGTON
1931
1930
1931
1930
1931
1930
1931
1930
Gross Revenue-Residence Lighting
$ 97,841.90
$ 83,174.15
$ 13,769.93
$ 10,787.54 $ 21,498.56
$ 16,948.79
$ 38,944.91
$ 32,661.42
Kilowatt Hours Sold
1,930,447
1,749,344
232,608
189,367
336,553
281,703
619,014
557,063
Gross Revenue Commercial Lighting Kilowatt Hours Sold .
401,767
361,849
16,134
19,144
41,762
43,078
83,928
76,356
Gross Revenue-Commerc'1 Heating
$ 5,532.88
$ 4,230.84
$ 523.59
$ 397.59
$ 1,022.67
$ 1,144.60
$ 1,578.33
$ 1,169.79
Kilowatt Hours Sold
158,245
132,187
14,242
11,501
23,456
26,752
37,458
30,711
Gross Revenue Wholesale Power
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