USA > Massachusetts > Middlesex County > Reading > Town of Reading Massachusetts annual report 1934 > Part 22
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The ratio of operating expenses to net operating revenue was 89.1% as compared with 77.8% of the preceding year.
In addition to the verification of balance sheet accounts as previ- ously mentioned in this report, we have made sufficient tests of all income and expenses to satisfy ourselves of the general accuracy of same.
General Comments:
We examined a list of bonded employees and the various coverages appear to be sufficient for the protection of the Department.
There appeared to be a net loss of $3,429.54 in merchandise and jobbing operations for the year ended December 31, 1934, as shown in detail in Schedule "4" and "5" attached.
We renew our recommendation of last year that a work-order system be installed to assist in the accurate accounting of the cost of the various projects.
The Department has discounted its leases, received from the sale of electric appliances, with the Malden Morris Plan. As at Decem- ber 31, 1934, we were advised that $6,726.87 represented unpaid dis- counted leases, for which the Department was contingently liable. This amount is set up as a foot-note and appears in Exhibit "A".
271
We wish to take this opportunity to thank the employees of the Department for their co-operation and assistance during the course of our examination.
Respectfully submitted, CHARLES E STANWOOD & SONS, INC. By A. T. Stanwood
EXHIBIT "A" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE BALANCE SHEET AS AT December 31, 1934 and 1933
ASSETS
Plant Investment:
1934
1933
Increase Decrease*
111
Land
$
2,575.80
$ 2,575.80
$
.00
113
Structures
32,911.82
33,304.71
892.89*
115
Prime Movers and Aux.
4,682.15
6,422.93
1,740.78*
117
Electric Plant-Steam ..
24,887.22
28,396.02
3,503.80*
123
Transformer Station and Substation Equipment ..
484.30
.00
484.30
125
Poles, Fixtures and Over- head Conductors
241,031.65
243,036.87
2,005.22*
126
Underground Conduits . .
48,181.03
33,368.36
14,812.67
127
Underground Conductors
42,341.39
14,441.27
27,900.12
128
Consumers' Meters . ..
34,979.91
35,746.05
766.14*
129
Consumers' Meter Install.
7,592.52
6,595.31
997.21
130
Line Transformers
37,787.93
39,513.96
1,726.03*
131
Transformer Installations
4,211.48
4,538.92
327.44*
132
Street Lighting Equip. .
16,701.87
12,538.71
4,163.16
133
Consumers' Prem. Equip.
38.13
91.75
53.62*
TOTAL PLANT INVESTMENT
$516,414.64
$486,072.14
$ 30,342.50
General Equipment:
150
Office
$ 7,420.25
$ 10,409.53
$ 2,989.28*
152
Stores
548.14
582.89
34.75*
153
Transportation
1,800.00
1,875.00
75.00*
154
Laboratory
2,367.89
2,357.03
10.86
·
114
Boiler Plant Equipment. .
11,161.46
15,343.24
4,181.78*
116
Turbo-Generator Units ..
6,845.98
9,658.24
2,812.26*
272
155 Miscellaneous
1,378.98
1,465.90
86.92*
TOTAL GENERAL EQUIP.
$ 13,515.26
$ 16,690.35
$ 3,175.09*
201 Unfinished Construction
$ 2,076.53
$ 217.50
$ 1,859.03
TOTAL INVESTMENT
$532,006.43
$502,979.99
$ 29,026.44
Current Assets :
204-2 Construction Fund
$ 2,152.90
$ 1,050.01
$ 1,102.89
204-3 Petty Cash Fund
250.00
250.00
.00
205-1 Depreciation Fund
90.41
9,356.45
9,266.04*
205-2 Consumers' Deposit Fund
7,587.39
. 7,531.51
56.33
206 Notes Receivable
805.18
761.60
43.58
207-1
Accts. Rec .- Consumers'
22,619.85
25,483.43
2,863.58*
207-2
Accts. Rec .- Miscell. . .
7,086.33
6,721.76
364.57
209-1 Materials and Supplies- General
30,820.15
24,805.81
6,014.34
2 Sta. Tools & Appliances
471.21
464.03
7.13
3 Distribution Tools and Appliances
5,811.54
5,276.94
534.60
4 Print. and Off. Supplies ..
839.51
1,012.78
173.27*
5 Lamps and Appliances . .
21,816.36
19,804.97
2,011.39
5a Leased Appliances
(Depreciated)
7,912.04
9,046.13
1,134.09*
6 Coal Supplies
637.38
135.90
501.48
9 Station Supplies
411.04
545.18
134.14*
TOTAL CURRENT ASSETS
$109,311.79
$112,246.50
$ 2,934.71*
Prepaid Items:
214
Prepaid Insurance
$ 545.27
$ 428.86
$ 116.41
GRAND TOTALS
$641,363.49
$615,655.35
$ 26,208.14
LIABILITIES AND PROFIT AND LOSS
Bonds and Notes Payable:
1934
1933
Increase Decrease*
305 Bonds Payable
$ 59,500.00
$ 69,500.00
$ 10,000.00*
306 Notes Payable
20,000.00
.00
20,000.00
1934
1933
Increase Decrease*
273
1934 1933
Increase Decrease*
TOTAL BONDS AND NOTES
PAYABLE $ 79,500.00 $ 69,500.00 $ 10,000.00
Current Liabilities:
308 Accounts Payable
$ 37,246.89 $ 15,642.85 $ 21,604.04
309 Consumers' Deposits
7,587.89
7,531.51
56.38
312 Other Liabilities
. .
.00
560.42
560.42*
TOTAL CURRENT LIABILITIES $ 44,834.78 $ 23,734.78
$ 21,100.00
Accrued Items:
314 Interest on Bonds and Notes $ 561.88
$ 575.83
$ 13.95*
315 Other Accrued Items-Loan due Town Treasurer
250.00
250.00
.00
TOTAL ACCRUED ITEMS $ 811.88
$ 825.83
$ 13.95*
Appropriated Surplus :
322 Loans Repayment
$354,400.00
$344,400.00 $ 10,000.00
323 Appropriation for Construc- tion Repayment
30,678.26
30,678.26
.00
TOTAL APPROPRIATED SUR- PLUS $385,078.26 $375,078.26 $ 10,000.00
Profit and Loss:
400 Profit and Loss Balance (See Exhibit "C") $131,638.57 $146,516.48 $ 14,877.91* NOTE:
There was a contingent lia- bility, as at December 31, 1934, for leases discounted amounting to $6,726.87.
GRAND TOTALS $641,863.49 $615,655.35 $ 26,208.14
274
EXHIBIT "B" TOWN OF READING - MUNICIPAL LIGHT DEPARTMENT COMPARATIVE STATEMENT OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 1934 AND 1933
Increase
Ratios
Revenue from Sales-Electric Energy:
1934
1933
Decrease*
1934
1933
501 Metered Sales-Residence Lighting .
$166,793.32
$165,344.60
$ 1,443.72
62.9%
60.0%
Metered Sales-Commercial Lighting
29,411.10
33,916.13
4,505.03*
11.1
12.3
Metered Sales-Commercial Heating
8,959,39
8,359.69
599.70
3.4
3.1
Metered Sales-Wholesale Power
6,099.89
6,685.69
585.80*
2.3
2.5
Metered Sales-Retail Power
15,655.20
23,243.38
7,588.18*
5.9
8.4
505 Sales to Other Companies
581.44
434.31
147.13
.2
2
Street Lighting .
28,268.94
29,483.42
1,214.48*
10.7
10.7
Municipal Buildings-Light and Power
8,966.04
7,129.45
1,836.59
3.4
2.6
TOTAL REV. FROM SALES-ELEC. ENERGY $264,735.32
$274,596.67
$ 9,861.35*
99.9
99.8
508
Rent from Property Used in Operations
373.25
363.93
4.32
.1
.1
509 Miscellaneous Operating Revenue .
.00
100.00
100.00*
.0
.1
TOTAL OPERATING REVENUE
$265,108.57
$275,065.60
$ 9,957.03*
100.0
100.0
Electric Operating Expenses:
I Production .
$ 86,120.77
$ 80,244.08. $
5,876.69
32.5
29.2
II Transmission and Distribution
58,861.11
46,648.33
12,212.78
22.2
16.9
III
Utilization
11,911.72
9,671.16
2,240.56
4.5
3.5
IV
Commercial
14,441.16
14,345.97
95.19
5.4
5.2
V New Business
2,663.90
2,275.23
388.67
1.0
.8
General and Miscellaneous
62,288.32
60,921.85
1,366.47
23.5
22.2
TOTAL OPERATING EXPENSES
$236,286.98
$214,106,62 $ 22,180.36
89.1
77.8
EXHIBIT "B" CONTINUED TOWN OF READING - MUNICIPAL LIGHT DEPARTMENT COMPARATIVE STATEMENT OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 1934 AND 1933
Ratios
1934
1933
Increase Decrease* $ 32,137.39*
1934
1933
NET OPERATING REVENUE
$28,821.59
$ 60,958.98
10.9%
22.2%
Deductions:
550 Uncollectible Operating Revenue
$ 1,698.47
$ 2,927.49
$
1,229.02*
551 Taxes Assignable to Electric Operations
3,161.00
2,996.14
164.86
TOTAL DEDUCTIONS
$
4,859.47
$
5,923.63
$
1,064.16*
NET OPERATING INCOME
$ 23,962.12
$ 55,035.35 $ 31,073.23*
Non-Operating Income:
563 Interest Income
$ 113.33
$
26.88
$
86.45
566 Miscellaneous Non-Operating Income
526.70
162.62
364.08
TOTAL NON-OPERATING INCOME
$
640.03
$
189.50
$
450.53
TOTAL INCOME
$ 24,602.15
$ 55,224.85
$ 30,622.70*
Deductions from Total Income:
560 Merchandise and Jobbing Loss
$ 3,429.54
$ 3,142.50
$ 287.04
561 Rent Electric Appliances
1,369.03
545.86
823.17
576 Interest on Bonds and Notes
2,906.05
3,031.04
124.99*
TOTAL DEDUCTIONS FROM INCOME
$ 7,704.62
$
6,719.40
$ 985.22
NET INCOME-TRANSFERRED TO PROFIT LOSS EXHIBIT "C"
$ 16,897.53
$ 48,505.45 $ 31,607.92*
EXHIBIT "C" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE ANALYSIS OF PROFIT AND LOSS For the Years Ended December 31, 1934 and 1933
Increase
1934 1933
Decrease*
Balance-Beginning of Year
$146,516.48 $123,689.29 $ 17,827.19
Additions:
Net Income-Transferred from Statement of Operations-Ex- hibit "B"
16,897.53
48,505.45
31,607.92*
Transfer from Reserve for Fed-
eral Energy Tax
543.97
.00
543.97
$163,957.98
$177,194.74 $ 13,236.76*
Deductions:
Bonds Retired
$ 10,000.00
$ 12,000.00 $
2,000.00*
Repayment to Town Treasury
20,000.00
18,678.26
1,321.74
Reduction in value of Office
Equipment-prior years
2,319.41
.00
2,319.41
TOTAL DEDUCTIONS
$ 32,319.41
$ 30,678.26
$ 1,641.15
Balance-End of Year
$131,638.57
$146,516.48
$ 14,877.91*
(See Exhibit "A")
Net Increase in Profit and Loss
for Year
$ 14,877.91 $ 17,827.19 $ 32,705.10*
SCHEDULE "1" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE CLASSIFIED STATEMENT OF INCOME For the Years Ended December 31, 1934 and 1933
Increase
1934
1933
Decrease*
Metered Sales-Residence Lighting:
Reading
$ 97,130.80
$ 94,244.10
$ 2,886.70
Lynnfield
13,773.61
13,861.31
87.70*
North Reading
20,040.18
20,650.00
609.82*
Wilmington
35,848.73
36,589.19
740.46*
Total Residence Lighting
$166,793.32
$165,344.60
$ 1,448.72
Metered Sales-Commercial Lighting:
Reading
$ 19,996.85
$ 22,483.97
$ 2,487.12*
Lynnfield
691.14
1,073.93
382.79*
277
1934
1933
North Reading
4,086.71
4,410.83
Wilmington
4,636.40
5,947.40
Increase Decrease* 324.12* 1,311.00*
Total Commercial Lighting .. $ 29,411.10 Metered Sales-Commercial Heating:
$ 33,916.13
$ 4,505.03*
Reading
$ 5,787.82
$ 5,278.55
$ 509.27
Lynnfield
557.17
370.42
186.75
North Reading
741.52
832.44
90.92*
Wilmington
1,872.88
1,878.28
5.40*
Total Commercial Heating
$ 8,959.39
$
8,359.69
$ 599.70
Metered Sales-Wholesale Power:
Reading
$ 4,495.90
$ 5,084.34
$ 588.44*
Lynnfield
.00
.00
.00
North Reading
1,603.99
1,601.35
2.64
Wilmington
.00
.00
.00
Total Wholesale Power
$ 6,099.89
$ 6,685.69
$ 585.80*
Metered Sales-Retail Power:
Reading
$ 13,073.86 $ 20,824.23
$ 7,750.37*
Lynnfield
574.09
468.88
105.21
North Reading
541.19
533.24
7.95
Wilmington
1,466.06
1,417.03
49.03
Total Retail Power
$ 15,655.20
$ 23,243.38
$ 7,588.18*
Total Metered Light, Heat and Power Income
$226,918.90
$237,549.49
$ 10,630.59*
Sales to Other Electric Companies:
Wakefield
$ 203.33
$ 173.29
$ 30.04
Lowell
45.87
57.26
11.39*
Lawrence
270.85
143.38
126.97
Peabody
9.00
8.36
.64
Edison Elec. Illum. Co. of Bos.
52.39
51.52
.87
Total Sales to Other Co's. $ 581.44
$ 434.31
$ 147.13
Municipal Revenue:
Street Lighting:
Reading
$ 13,831.00 $ 15,200.00
$ 1,369.00*
Lynnfield
2,257.95
2,251.82
6.13
North Reading
4,473.40
4,347.04
126.35
278
Wilmington
1934 7,706.59
1933 7,684.56
Increase Decrease* 22.03
Total Street Lighting Inc. ..
$ 28,268.94
$ 29,483.42
$ 1,214.48*
Buildings:
Lighting and Heat
$ 2,732.83
$ 2,069.14
$ 663.69
Power-Retail and Wholesale
6,233.21
5,060.31
1,172.90
Total Income-Mun. Bldgs.
$ 8,966.04
$ 7,129.45
$ 1,836.59
Total Income from Sales-
Electric Energy
$264,735.32 $274.596.67 $ 9,861.35*
(See Exhibit "B")
SCHEDULE "2" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE CLASSIFIED STATEMENT OF OPERATING EXPENSES
For the Years Ended December 31, 1934 and 1933
1934
1933
Increase Decrease*
I Production Expenses:
607 Water for Steam
$ 33.85
$ 57.13
$ 23.28*
608 Lubricants
.00
4.76
4.76*
609 Station Supplies
731.39
332.06
399.33
611 Maint, of Sta. Structures ..
883.41
453.67
434.74
612 Maint. of Equipment
Boiler Plant
138.38
200.66
62.28*
613 Maint. of Steam Engines ..
.00
82.06
82.06*
614 Maint. of Turbo-Genera- tor Units
.00
.00
.00
615 Maint. of Elec. Gen. Equip.
6.45
14.95
8.50*
616 Maint. of Accessory Elec. Equipment
49.66
10.27
39.39
617 Maint. Miscell. Pow. Plant Equipment
.00
4.22
4.22*
634 Elec. Energy Purchased ..
84,272.63
79,034.30
5,188.33
Total Production Expenses
$ 86,120.77
$ 80,244.08
$ 5,876.69
279
II Transmission and Distribution Expenses:
1934
1933
Increase Decrease*
636 Transform. Sta. and Sub- station Superintendence and Labor
$9,374.07
$ 7,677.33 $
1,696.74
637 Transformer Sta. and Sub- station Supplies and Exps.
7,167.65
7,093.79
73.86
638 Operation of Transmission and Distribution Lines
21,080.69
16,306.40
4,774.29
639 Transmission and Distribu- tion Supplies and Exps. .... 640 Inspecting and Testing Meters
1,657.54
1,303.51
354.03
641 Removing and Resetting Meters
2,787.58
1,540.63
1,246.90
642 Removing and Resetting Transformers
313.63
389.20
75.57*
646 Maint. of Transformer Sta. and Substation
.00
3.79
3.79*
647 Maint. of Transmission and Distribution Lines
15,318.39
10,837.61
4,480.78
648 Maint. Underground Con- duits
20.07
.00
20.07
649 Maint. Underground Con- ductors
263.32
.00
263.32
650 Maint. of Consumers'.
Meters
445.97
287.08
158.89
651 Maint. of Transformers ..
175.48
885.16
709.68*
Total Transmission and
Distribution Expenses . .
$ 58,361.11
$ 46,648.33
$ 12,212.78
Total Production, Transmis- sion and Distribution Exps.
$144,981.88
$126,892.41
$ 18,089.47
III Utilization Expenses:
654 Oper. of Mun. Street Lamps
$ 4,155.66
$ 4,192.85
$ 37.19*
657 Maintenance of Municipal Street Lamps
805.58
499.59
305.99
659 Maintenance of Consumers' Installations
6,950.48
4,978.72
1,971.76
Total Utilization Expenses
$ 11,911.72
$ 9,671.16
$ 2,240.56
256.72
323.78
67.06*
280
1934 1933
Increase Decrease*
IV Commercial Expenses:
660 Commercial Salaries
$ 10,699.65 $ 9,497.19
$ 1,202.46
661 Commercial Supplies and Expenses
3,741.51
4,348.78
1,107.27*
Total Commercial Expenses $ 14,441.16 $ 14,345.97
$ 95.19
V New Business Expenses:
662 New Business Salaries .. ...
$ 135.95
$ 677.05
$ 541.10*
663 New Business Supplies and Expenses
91.97
64.64
27.33
664 Advertising
2,435.98
1,533.54
902.44
Total New Business Exps.
$ 2,663.90
$ 2,275.23
$ 388.67
VI Miscellaneous and General Expenses:
666 Salary of Manager
$ 5,267.60 $
5,273.17
$ 5.57*
667 Salaries of General Office
Clerks
6,337.87
6,232.92
104.95
668 General Office Supplies and Expenses
2,296.04
2,259.71
36.33
669 General Office Rents
1,232.49
1,017.69
214.80
671 Insurance
2,491.39
2,963.54
472.15*
673 Accidents and Damages
66.08
52.25
13.83
674 Store Expenses
3,162.68
2,842.05
320.63
675
Transportation Expense . .
2,414.70
4,434.25
2,019.55*
676 Inventory Adjustments
1,984.67
472.91
1,511.76
677 Maintenance of General
Structures
.78
23.45
27.67*
678 Depreciation
36,219.05
34,892.99
1,326.06
679 Miscellaneous General Exps.
814.97
451.92
363.05
Total Miscellaneous and Gen-
eral Expenses
$ 62,288.32
$ 60,921.85
$ 1,366.47
Total Operating Expenses
. . $236,286.98
$214,106.62 $ 22,180.36
(See Exhibit "B")
281
SCHEDULE "3" TOWN OF READING - MUNICIPAL LIGHT DEPARTMENT BONDS AND NOTES AUTHORIZED, ISSUED AND OUTSTANDING AS AT DECEMBER 31, 1934
BONDS :
Amount Of
Amount
Balance Out- Amount Standing
Accrued
No. Of Date
Date
Original
Rate of
Retired to Retired Decem. Decem. .00 $ .00 $ Jan. 1, 1934 During '34 31, 1934 31,1934 $ 50,000.00 $
.00
2,000.
yearly 26 Yrs.
2
May 1907
10- 1-1907
26,000.00
1,000. yearly
20 Yrs. 41/2
April 1-October 1
26,000.00
.00
00
00
3
June
1911
7-15-1911
20,000.00
2,000.
yearly
10 Yrs. .4
January 15-July 15
20,000.00
.00
00
.00
4
August 1913
10-15-1913
23,500.00
1,500. yearly 9 Yrs. 11/2
April 15-October 15
23,500.00
00
.00
.00
5
Sept. 1914
9-15-1914
8,000.00
16 Yrs.
41/2
March 15-Sept. 15
8,000.00
00
00
.00
6
March 1916
5-15-1916
10,000.00
500.
yearly
20 Yrs.
4
November 15-May 15
8,500.00
500.00
1,000.00
5.00
7
March 1917
10- 1-1917
55,000.00
3,000.
yearly
18 Yrs. 41/2 April 1-October 1
43,000.00
3,000.00
4,000.00
45.00
1,000.
yearly
1 Yr.
8
October 1918 1- 1-1919
12,000.00
1,000. 500. yearly yearly
4 Yrs. 41/2
January 1-July 1
9,000.00
500.00
2,500.00
56.25
9
March 1919
4- 1-1919
20,000.00
1,000.
yearly
20 Yrs.
43/4
October 1-April 1
14,000.00
1,000.00
5,000.00
59.38
10
March 1920
5- 1-1920
20,000.00
1,000.
yearly 20 Yrs.
5 November 1, May 1
13,000.00
1,000.00
6,000.00
50.00
11
Dec. 1923
12- 1-1923
10,000.00
1,000.
yearly
10 Yrs.
41/2
June 1-December 1
10,000.00
.00
.00
.00
12
March 1926
8- 1-1926
13,000.00
3,000.
yearly
1 Yr.
4
February 1-August 1
13,000.00
.00
00
.00
2,000.
yearly
13
March 1930
6- 1-1930
2,000.
yearly
5 Yrs. 4
June 1-December 1
6,000.00
2,000.00
7,000.00
23,34
1,000. yearly
5 Yrs.
Interest Payable
Issue Authorized 1
August 1894
Issued 10- 1-1894
Issue
$ 50,000.00
Payments of Principal Int. 1,000. yearly
10 Yrs. 4 % April 1-October 1
10 Yrs.
1,000. yearly yearly 500.
16 Yrs.
5 Yrs.
15,000.00
Interest
14 March 1931 4-15-1931
40,000.00 2,000. yearly 20 Yrs. 31/2 October 15-April 15
4,000.00
2,000.00
34,000.00
247.91
Total Bonds
$322,500.00
$253,000.00 $10,000.00 $59,500.00
$ 486.88
NOTES :
1
March 1895 5- 1-1896
$ 7,000.00 $1,400. yearly 5 Yrs.
4 % November 1-May 1
$ 7,000.00
$ .00
$ .00
$ 00
2
March 1896
5 -1-1896
7,000.00
1,400.
yearly
5 Yrs.
4
November 1-May 1
7,000.00
.00
.00
.00
3
Dec. 1896
12- 9-1896
1,500.00
1,500.
yearly 1 Yr. 4
June 9-December 9
1,500.00
.00
00
CO
4
March 1898
7-15-1898
3,000.00 1,000. July 15, 1901 33/4
January 15-July 15
3,000.00
.00
.00
.00
2,000. July 15, 1904
5
March 1903
12- 7-1903
1,400.00
1,400.
December 7, 1906 4
June 7-December 7
1,400.00
00
.00
CO
6
March 1909
11-15-1909
2,500.00
1,000.
Nov. 15, 1910
4
May 15-November 15
2,500.00
.00
00
.00
1,500.
Nov. 15, 1911
7
Nov. 1909
1-21-1910
1,800.00
1,800.
January 3, 1913 4
, July 21-January 21
1,800.00
.00
.00
00
8
January 1910
3-27-1910
12,000.00
1,000.
yearly
12 Yrs. 4
Sept. 27-March 27
12,000.00
.00
.00
00
9 June 1911
7- 2-1911
2,200.00
2,200.
July 12, 1912
4
January 12-July 12
2,200.00
.00
.00
co
10 March 1913
4-16-1913
13,500.00
1,500.
Yearly
9 Yrs.
41/4
October 16-April 16
13,500.00
.00
.00
00
11
March 1915
5-15-1915
12,000.00
800.
Yearly
15 Yrs.
4
November 15-May 15
12,000.00
.00
.00
CO
12
March 1915
7-15-1915
4,000.00
500.
Yearly
8 Yrs.
4
January 15-July 15
4,000.00
.00
.00
CO
13 March 1917
9-22-1917
6,500.00
500.
Yearly
13 Yrs.
5
March 22-Sept .. 22
6,500.00
.00
00
.0)
14 Nov. 1919
11-20-1919
3,000.00
1,500.
Yearly
2 Yrs.
5
May 20-November 20
3,000.00
.00
00
.00
15 March 1921
7- 1-1921
7,000.00
1,000.
Yearly
7 Yrs.
6
January 1-July 1
7,000.00
.00
00
.0)
16 Dec. 1922
12-15-1922
7,000.00
1,000.
Yearly
7 Yrs.
41/2
June 15-December 15
7,000.00
.00
.00
00
17
March 1934
5-15-1934
20,000.00
2,000.
Yearly 10 Yrs. 3
May 15-November 15'
00
00
20,000.00
75.00
Total Notes
$111,400.00
$91,400.00
$ .00 $20,000.00
$ 75.00
Total Bonds and Notes $433,900.00
$344,400.00 $10,000.00 $79,500.00
$ 561.88
SCHEDULE "4" TOWN OF READING - MUNICIPAL LIGHT DEPARTMENT COMPARATIVE STATEMENT OF MERCHANDISE OPERATIONS
For the Years Ended December 31, 1934 and 1933
1934
1933
GROSS SALES
$ 30,252.10
$ 24,407.70
Less-Returned Sales . . 1,451.24
1,430.06
NET SALES
28,800.86
22,977.64
COST OF SALES
20,173.05
16,890.87
GROSS PROFIT
ON SALES 1
$ 8,627.81
$ 6,086.77
EXPENSES :
Salaries and Wages $
6,098.63
$ 3,633.12
Commissions
1,760.43
1,931.50
Free Wiring on
Installation
1,507.07
1,098.46
Rent
1,232.49
1,017.68
Discount on Loans
1,206.83
808.75.
Heat'g (one-half) ..
179.70
206.52
Automobile Expense
238.44
390.37
Express
14.13
22.42
Store Expense ....
61.85
47.70
Miscell.
Expenses
17.05
38.61
TOTAL EXPS.
12,316.62
9,195.13
NET LOSS
$
3,688.81
$
3,108.36
284
SCHEDULE "5" TOWN OF READING - MUNICIPAL LIGHT DEPARTMENT COMPARATIVE STATEMENT OF JOBBING OPERATIONS For the Years Ended December 31, 1934 and 1933
1934
1933
GROSS REVENUE .. $ 8,529.55
$ 7,459.29
Less :
Returns and Allow's
110.83
168.61
NET SALES
$ 8,418.72
$ 7,290.68
COST OF SALES
6,419.04
6,507.57
GROSS PROFIT .. EXPENSES :
$ 1,999.68
$ 783.11
Salaries and Wages
$ 1,619.31
$ 772.93
Trucking
120.49
43.12
Miscellaneous
.61
1.20
TOTAL EXPS. ..
$ 1,740.41
$ 817.25
Net Loss
$ 259.27
$
34.14
SCHEDULE "6"
TOWN OF READING - MUNICIPAL LIGHT DEPARTMENT COMPARATIVE DETAIL OF KILOWATT HOURS PURCHASED, SOLD AND USED FOR THE YEARS ENDED DECEMBER 31, 1934 AND 1933
1934
1933
Increase Decrease*
Kilowatt Hours
Generated
None
None
Purchased
7,516,389
7,213,255
303,134
Total
7,516,389
7,213,255
303,134
285
1934
1933
Increase Decrease*
Kilowatt Hours Sold
Residence Service
3,741,318
3,531,140
210,178
Commercial Lighting
565,299
531,653
33,646
Commercial Miscellaneous
324,730
273,846
50,83+
Commercial Power-Retail ..
561,537
691,999
130,462*
Commercial Power-Wholesale
314,070
349,660
35,590*
Municipal Lighting
94,161
76,089
18,072
Municipal Miscellaneous
9,760
6,577
3,183
Municipal Power-Retail
1,682
2,686
1,004*
Municipal Power - Wholesale
331,100
260,080
71,020
Co-operative Re-sale Service .
18,403
13,074
5,329
Street Lighting
560,137
522,853
37,234
TOTAL KILOWATT HOURS SOLD
6,522,197
6,259,657
262,540
Kilowatt Hours used at Station,
Office and Garage and Miscell.
60,995
59,253
1,742
Kilowatt Hours used for Christ- mas Illumination
8,234
4,191
4,043
Kilowatt Hours Unaccounted for.
924,963
890,154
34,809
TOTAL
7,516,389
7,213,255
303,134
PER CENT UNACCOUNT- ED FOR
12.31%
12.34%
286
REPORT OF PLANNING BOARD FOR 1934
To the Citizens of the Town of Reading :
In accordance with General Laws, chapter 41, section 71, the Plan- ning Board submits herewith its annual report to the Town Meeting. It may be of interest to the citizens to know that section 70 of said laws provide that the Planning Board "shall make careful studies of the resources, possibilities and needs of the town," and that section 71 pro- vides that its report shall give "information covering the condition of the town and any plans or proposals for its development, and estimates of the cost thereof."
The Board has met regularly on Friday nights throughout the year. It has had frequent interviews and conferences with individu- als, Town and State Boards, on planning and related subjects. The Board has given opinions at the request of other Boards as to various questions. In many instances it has been handicapped in the giving of such opinions by not having the facilities for obtaining professional advice, and by having insufficient time with which to form a proper opinion.
This has been due to the haste necessary in order to take advan- tage of Federal grants. Lack of proper study has resulted, in some instances, in waste of money and inefficient expenditure of time and effort, due mainly to the pressure of time. Could the Board have had proper time and advice to give to these projects in advance, substantial benefits · and savings would have resulted. The subjects indicated be- low are only summaries of the more important matters which have been and now are under consideration by the Board. The Board is constantly attempting to increase its usefulness and value to the town. This can only be accomplished by the continued co-operation of our citizens.
Traffic
It is the opinion of the Board that the proposed traffic circle for the Square is at best a temporary expedient, and that the expense of the same would be ill-advised, particularly at this time. The Board believes that warning signs, judiciously placed, would act as some de- terrent to traffic entering the Square. It is convinced that the proper and adequate solution of the traffic problem in the Square lies in rout- ing through traffic around the Square by means of the proposed by- pass, or otherwise. In this connection, it is thought that the bridge projected over the railroad on the proposed route 128 might be joined with the so-called Planning Board by-pass, which would seem to eliminate the necessity of an overpass at the Main Street crossing. The Board is co-operating with other towns affected by route 128, with a view to determining for it the location which shall be for the best interest of the town.
287
Zoning
A representative of the Board has attended all hearings before the Board of Appeals, and opposed those petitions which, in its opinion, would tend to break down the zoning law. Although the Board is firmly convinced that the present by-law should be strictly adhered to, it believes that it could be greatly improved by having a study made which would correct inaccuracies as to bounds and the like and revise certain of the zoning districts in the light of present conditions and modern zoning practice. The Board is requesting funds which will assist in the employment of professional advice essential to this work.
Parks and Playgrounds
The Park Committee appointed to study parks and playgrounds at the Town Meeting two years ago has not functioned. There is urgent need for study to correct and make plans for existing parks and play- grounds. It is also important to select sites for future areas of this nature, so that development thereof may be made in an orderly eco- nomical manner. Certain things require immediate attention, such as the reloaming and landscaping of the Common, the preparation of an intelligent plan for Memorial Park. The present trend, both local and national, is so strongly toward the development of parks and play- grounds that, without criticism of the existing authority, it believes that the interest of the town would be better served by the estab- lishment of a Park Commission-or some similar body-which would be able to give its undivided attention to the subject. There is not only the problem of laying out and construction, but the related and equally important problem of protection of equipment and grounds from dam- age by irresponsible persons, of direction and supervision of play, and of maintenance.
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