USA > Massachusetts > Middlesex County > Reading > Town of Reading Massachusetts annual report 1935 > Part 17
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We are advised that most of the inventory at December 31, 1935, was priced at cost. In certain cases appraised values were used. Book
231
values of these accounts were adjusted to conform with inventory values. All mathematical computations of inventories were checked by us.
Prepaid Insurance-$1,186.93.
The above balance represents the unexpired insurance premiums at December 31, 1935, as computed by us from insurance policies ex- amined.
Bonds Payable-$49,500.00.
The balance of bonds outstanding December 31, 1935, as shown by the books, is reflected in this account. The above balance was con- firmed by the Town Accountant. During the year a total of $10,000.00 of this indebtedness was retired. A detail of the various issues and changes in same during the year is set forth in Schedule "3" of this report.
Notes Payable-$38,000.00
The indebtedness of the department on account of its note liability at December 31, 1935, as shown by the books, is set forth in this account. Confirmation of the above balance was received from the Town Ac- countant. During the year new notes in the amount of $20,000.00 were issued to provide funds for the new switchboard, etc. installed at the power plant. A total of $2,000.00 was retired on notes issued during 1934 in accordance with those note provisions resulting in a net in- crease in this liability of $18,000.00 for the year. A detail of the notes issued, and changes in the account during the year is set forth in Schedule "3" of this report.
Accounts Payable-$44,952.97.
The liability of the department on account of unpaid invoices at December 31, 1935, as reflected by the records was $44,952.97. A schedule of unpaid items was checked with unpaid invoices, the total of which was in agreement with the control account. The above bal- ance may be aged as follows :
December 1935 invoices $ 17,455.94
November 1935 invoices 12,857.75
October 1935 invoices 13,553.58
Prior to October 1935 invoices 1,085.70
Total $ 44,952.97
From records examined, it appeared that all invoices applicable to the year had been recorded.
232
Consumers' Deposits-$7,518.81
As at December 31, 1935, the department held the above amount representing deposits made by certain consumers to insure payment of bills owing the department. This liability is offset by a separate fund on deposit with the Mechanics Savings Bank, previously described in this report under caption, "Consumers' Deposit Fund". The total balances shown by individual consumers' cards was in agreement with the above amount. Interest is paid on the deposits held by the de- partment six months or more at the rate of four per cent per annum.
Accrued Items-$861.30.
The items comprising the above balance, and as set forth in Ex- hibit "A" of this report are as follows :
Interest Accrued on Bonds and Notes Payable .... $ 480.01 Loan from Town Treasurer, for petty cash purposes 250.00
Premium on Bonds 131.29
Total
$ 861.30
Interest accrued on bonds and notes outstanding was verified. A detail of the accrued balances on the various issues is set forth in Schedule "3" of this report.
Confirmation of amount owing the Town Treasurer, on account of loan to this Department for petty cash purposes, was received from the Town Accountant.
Premium on bonds represents premium received on $20,000.00 face value of notes issued during 1935, amounting to $174.00 (notes being sold at $100.87), less expenses account of issue amounting to $42.71. The net balance will be carried in this account until first payment on account of principal is made in 1936.
Loans Repayment-$366,400.00
The balance of this account reflects an increase of $12,000.00 dur- ing the year which is represented by the amount of retirement bonds and notes during the year. The above balance may be summarized as follows :
Total Issued
Balance Outstanding 12-31-35
Total Retired
Bonds
$322,500.00
$ 49,500.00
$273,000.00
Notes
131,400.00
38,000.00
93,400.00
Totals
$453,900.00
$ 87,500.00
$366,400.00
See Schedule "3" of this report for further detail of above.
233
Appropriation for Construction Repayment-$30,678.26.
This account represents amounts appropriated by the Town from tax levy for the benefit of this department and which have been fully repaid to the town.
Profit and Loss-$128,604.28.
The above balance as at December 31, 1935 reflects a decrease of $3,034.29 during the year. A detail of this decrease is set forth in Ex- hibit "C" of this report.
The net income of the department for the year was $29,142.71 be- fore bond and note retirement, payment to the Town Treasurer and miscellaneous adjustments. A detail of net income referred to above is shown in Exhibit "B" of this report.
Comments and Explanations of Operations.
The following is a summary of the increase in net operating in- come for the year 1935 over 1934 :
Items
Total Operating Revenues
Increase Decrease* $ 14,426.90 419.22
Total Operating Expenses
Net Operating Revenue
$ 14,007.68
Deductions from Net Operating Revenue
1,602.87
$ 12,404.81
Non-Operating Income
159.63*
Net Operating Income $ 12,245.18
The increase in total operating revenues for the year is mainly at- tributable to increased sales of kilowatt hours for "Residence Light- ing", "Commercial Lighting" and "Street Lighting". According to the records, kilowatt hours sold in 1935 for the three classes of income stated above exceeded the sales for 1934 by 343,899, resulting in an increase in revenue from those sources of $14,185.66.
Operating expenses reflect an increase of $419.22 over 1934. The factors resulting in this increase are as follows : Increase account of 457,253 kilowatt hours pur-
chased in 1935 in excss of 1934 $ 8,354.72
Less :
Depreciation on plant equipment charged to expenses at 3% of cost for 1935-4% for 1934 8,232.40
$ 122.32
234
Add :
Increase in Transmission and Distribution
Expenses
$ 1,962.30
Increase in New Business Expenses
437.75
$ 2,522.37
Deduct :
Decrease in Production Expenses (exclusive of Electric Energy Purchased) $ 619.38
Decrease in Utilization Expenses 317.59
Decrease in Commercial Expenses
78.73
Decrease in General Expenses (exclusive of depreciation)
1,087.45
2,103.15
Net Increase in Operating Expenses
$ 419.22
Had depreciation on plant equipment been charged to expenses for 1935 on the same basis as 1934, i. e. 4% of the cost of plant at be- ginning of year, exclusive of land, instead of 3% of the cost, the in- crease in "Net Operating Revenue" would have been $4,678.79 instead of $14,007.68, and the increase in "Net Operating Income" would have been $2,916.29 instead of $12,245.18.
Kilowatt hours sold during 1935 totaled 6,852,795 as compared with 6,522,197 for 1934. The average revenue per kilowatt hour sold in 1935 was .0407 as compared with .0406 for 1934.
A comparative tabulation of kilowatt hours purchased, sold, used and unaccounted for as shown by the records of the department is set forth in Schedule "5" of this report.
We have made a series of tests of the operating accounts for the year in order to satisfy ourselves of the general accuracy of same.
Other Comments
At a meeting of the voters of the Town held in March, 1935, it was voted among other things, that, if the income of this depart- ment, including the appropriation for street lighting shall exceed the expenses, as defined in Section 57 of Chapter 164 of the general laws, for the current fiscal year, $20,000.00 of such excess shall be trans- ferred to the general funds of the Town and the balance shall be transferred to the Construction Fund of the department and used for such additions thereto as may thereafter be authorized by the Municipal Light Board. The excess of income over expenses for 1935, as defined in Section 57 of Chapter 164 of the general laws amounted to $16,965.71.
235 .
On December 31, 1935, this department transferred $19,488.35 in cash, which amount together with cancellation of $511.65 due from the Town on account of E. R. A. activities, makes a total of $20,000.00 transferred to the general funds of the Town.
A contingent liability in the amount of $13,292.42 existed at De- cember 31, 1935 on account of leases received from installment sales of electrical appliances and which were discounted with the Malden Morris Plan.
During the year the department purchased a blanket policy bond- ing all employees of the department in the amount of $2,500.00 each. Additional coverage is carried as follows :
Manager $ 2,500.00 2,500.00
Office Manager
Cashiers (2)
2,500.00 each 500.00 each
Collectors (2)
The following exhibits and schedules have been prepared on the basis of, and are subject to the comments as hereinbefore stated.
For your convenience, these exhibits and schedules are set up in accordance with the "Uniform System of Accounts for Municipal Lighting Plants" as prescribed by the Department of Public Utilities of Massachusetts.
Respectfully submitted,
CHARLES E. STANWOOD & COMPANY .
By A. T. Stanwood
EXHIBIT "A"
TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE BALANCE SHEET AS AT
December 31, 1935 and 1934
ASSETS
1935
1934
Increase Decrease*
Plant Investment:
111 Land
$ 2,575.80
$ 2,575.80
$ .00
113 Structures
32,018.93
32,911.82
892.89*
114 Boiler Plant Equipment ....
6,979.66
11,161.46
4,181.80*
115
Prime Movers & Auxiliaries
2,841.35
4,682.15
1,840.80*
236
1935
1934
Increase Decrease*
116 Turbo-Generator Units ...
4,033.74
6,845.98
2,812.24*
117 Electric Plant-Steam ....
21,378 .. 41
24,887.22
3,508.81*
117-1 Elec. Plant-Steam-New Switchboard
33,757.41
.00
33,757.41
123 Transformer Station & Sub- station Equipment
469.77
484.30
14.53*
125
Poles, Fixtures and Over- head Conductors
246,576.26
241,031.65
5,544.61
126
Underground Conduits
48,081.48
48,181.03
99.55*
127
Underground Conductors ..
41,589.32
42,341.39
752.07*
12
Consumers' Meters
34,618.10
34,979.91
361.81*
129 Consumers' Meter Install's.
8,405.06
7,592.52
812.54
130 Line Transformers
36,744.54
37,787.93
1,043.39*
131 Transformer Installations .
4,476.58
4,211.48
265.10
132 Street Lighting Equipment
16,181.15
16,701.87
520.72*
133 Consumers' Prem Equip. ..
.00
38.13
38.13*
TOTAL PLANT EQUIPMENT . $540,727.56
$516,414.64
$ 24,312.92
General Equipment:
150
Office
$
7,209.94 $ 7,420.25
$ 210.31*
152 Stores
500.23
548.14
47.91*
153 Transportation
1,800.00
1,300.00
.00
15-
Laboratory
2,451.32
2,367.89
83.43
155
Miscellaneous
1,126.21
1,378.98
252.77*
TOTAL GENERAL EQUIPMENT $ 13,087.70
$ 13,515.26
$ 427.56*
201
Unfinished Construction . .
$ 2,769.13
$ 2,076.53
$ 692.60
TOTAL INVESTMENT
$556,584.39
$532,006.43
$ 24,577.96
Current Assets:
204-2 Construction Fund
$
3,596.93
$ 2,152.90 $
1,444.03
204-3 Petty Cash Fund
250.00
250.00
.00
205-1 Depreciation Fund
.00
90.41
90.41*
237
1935
1934
Increase Decrease*
205-2 Customers' Deposit Fund
7,518.81
7,587.89
69.08*
206 Notes Receivable
.
805.18
805.18
.00
207-1 Accounts Rec., Consumers
23,771.32
22,619.85
1,151.47
207-2 Accts. Rec., Miscellaneous
8,119.99
7,086.33
1,033.66
209-1 Materials and Supplies - General
29,768.78
30,820.15
1,051.37*
2 Station Tools & Applian's.
585.88
471.21
114.67
3 Distribution Tools & Ap- pliances
6,437.17
5,811.54
625.63
4 Print. and Office Supplies
622.12
839.51
217.39*
5 Lamps and Appliances ..
20,146.05
21,816.36
1,670.31*
5a Leased Appliances (De- preciated)
6,750.55
7,912.04
1,161.49*
6 Coal Supplies
20.38
637.38
616.50*
9 Station Supplies
350.64
411.04
60.40*
TOTAL CURRENT ASSETS
$108,744.30
$109,311.79
$ 567.49*
Prepaid Items:
214 Prepaid Insurance
$ 1,186.93 $
545.27
$ 641.66
GRAND TOTALS
$666,515.62
$641,863.49
$ 24,652.13
LIABILITIES AND PROFIT AND LOSS
Bonds and Notes Payable:
305 Bonds Payable
$ 49,500.00 $ 59,500.00 $ 10,000.00*
306 Notes Payable
38,000.00
20,000.00
18,000.00
-
TOTAL BONDS AND NOTES
PAYABLE $ 87,500.00 $ 79,500.00 $ 8,000.00
238
1935 1934
Increase Decrease*
Current Liabilities:
308 Accounts Payable
$ 44,952.97
$ 37,246.89
$ 7,706.08
309 Consumers' Deposits
7,518.81
7,587.89
69.08*
TOTAL CURRENT LIABILITIES $ 52,471.78 $ 44,834.78 $ 7,637.00
Accrued Items:
314 Interest Accrued on Bonds and Notes
$ 480.01
$ 561.88
$ 81.87*
315 Other Accrued Items-Loan due Town Treasurer
250.00
250.00
.00
316 Premium on Bonds
131.29
.00
131.29
TOTAL ACCRUED ITEMS $ 861.30
$ 811.88
$ 49.42
Appropriated Surplus:
322 Loans Repayment
$366,400.00
$354,400.00 $ 12,000.00
323 Appropriation for Construc- tion Repayment
30,678.26
30,678.26
.00
TOTAL APPROPRIATED SURP. $397,078.26
$385,078.26 $ 12,000.00
Profit and Loss:
400 Profit and Loss Balance (See Exhibit "C") $128,604.28 $131,638.57 $ 3,034.29* NOTE :
There was a contingent lia- bility as at December 31, 1935 for leases discounted amounting to $13,292.42.
GRAND TOTALS $666,515.62 $641,863.49 $ 24,652.13
239
EXHIBIT "B"
TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE STATEMENT OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 1935 AND 1934
Ratios
Revenue from Sales-Electric Energy:
1935
1934
Increase Decrease*
1935
1934
501 Metered Sales-Residence Lighting
$174,839.84 $166,793.32
$ 8,046.52
62.5
62.9
Metered Sales-Commercial Lighting
32,006.91
29,411.10
2,595.81
11.5
11.1
Metered Sales-Commercial Heating
9,750.15
8,959.39
790.76
3.5
3.4
Metered Sales-Wholesale Power
6,850.72
6,099.89
750.83
2.5
2.3
Metered Sales-Retail Power
14,140.62
15,655.20
1,514.58*
5.1
5.9
505 Sales to Other Companies
957.31
581.44
375.87
3
2
Street Lighting
31,812.27
23,268.94
3,543.33
11.4
10.7
Municipal Buildings-Light and Power
8,843.45
8,966.04
122.59*
3.1
3.4
TOTAL REV. FROM SALES-ELEC. ENERGY
$279,201.27
$264,735.32
$ 14,465.95
99.9
99.9
508 Rent from Property Used in Operations
334.20
373.25
39.05*
.1
1
TOTAL OPERATING REVENUE
$279,535.47
$265,108.57
$ 14,426.90
100.0
100.0
Electric Operating Expenses:
I Production
$ 93,856.11
$ 86,120.77
$ 7,735.34
33.6
32.5
II Transmission and Distribution
60,823.41
58,861.11
1,962.30
21.8
22.2
III
Utilization
11,594.13
11,911.72
317.59*
4.1
4.5
IV Commercial
14,362.43
14,441.16
78.73*
5.1
5.4
V New Business
3,101.65
- 2,663.90
437.75
1.1
1.0
VI General and Miscellaneous
52,968.47
62,288.32
9,319.85*
19.0
23.5
TOTAL OPERATING EXPENSES
$236,706.20
$236.286.98
$ 419.22
84.7
89.1
NET OPERATING REVENUE
$ 42,829.27
$ 28,821.59
$ 14,007.68
15.3
10.9
Deductions:
550 Uncollectible Operating Revenue
$ 1,713.47
$ 1,698.47
$ 15.00
551 Taxes Assignable to Electric Operations
3,384.50
3,161.00
223.50
$ 5,097.97
$ 4,859.47
$ 238.50
TOTAL DEDUCTIONS
NET OPERATING INCOME
$ 37,731.30
$ 23,962.12
$ 13,769.18
Non-Operating Income:
563 Interest Income
$ 85.78
$ 113.33
$ 27.55*
566 Miscellaneous Non-Operating Income
394.62
526.70
132.08*
TOTAL NON-OPERATING INCOME
$ 430.40
$ 640.03
$ 159.63*
TOTAL INCOME
$ 38,211.70
$ 24,602.15
$ 13,609.55
Deductions from Total Income:
560
Merchandise and Jobbing Loss
$ 5,063.27
$ 3,429.54
$ 1,633.73
561 Rent Electric Appliances
1,147.59
1,369.03
221.44*
576 Interest on Bonds and Notes
2,858.13
2,906.05
47.92*
TOTAL DEDUCTIONS FROM INCOME
$ 9,058.99
$ 7,704.62
$ 1,364.37
NET INCOME TRANSFERRED TO PROFIT AND LOSS EXHIBIT "C"
$ 29,142.71
$ 16,897.53
$ 12,245.18
EXHIBIT "C" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE ANALYSIS OF PROFIT AND LOSS For the Years Ended December 31, 1935 and 1934
Increase
1935 $131,638.57
1934
Decrease* $ 14,877.91*
Additions:
Net Income-Transferred from Statement of Operations - Exhibit "B"
29,142.71
16,897.53
12,245.18
Transfer from Reserve
for
Federal Energy Tax
.00
543.97
543.97*
$160,781.28
$163,957.98
$ 3,176.70*
Deductions:
Bonds and Notes Retired . . .. Repayment to Town Treasury
$ 12,000.00 $ 10,000.00
$ 2,000.00
20,000.00
20,000.00
.00
Reduction in Value of Office Equipment-prior years .... Allowances for Rentals paid in prior years on Purchase of Electric Ranges
177.00
.00
177.00
TOTAL DEDUCTIONS
$ 32,177.00
$ 32,319.41
$ 142.41*
Balance-End of Year
$128,604.28
$131,638.57
$ 3,034.29*
(See Exhibit "A")
Net Decrease in Profit and Loss for
Year
$ 3,034.29 $ 14,877.91 $ 11,843.62*
SCHEDULE "1"
TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE CLASSIFIED STATEMENT OF INCOME For the Years Ended December 31, 1935 and 1934
1935
1934
Increase Decrease*
Metered Sales-Residence Lighting:
Reading
$101,929.52 $ 97,130.80
$ 4,798.72
Lynnfield
14,380.64
13,773.61
607.03
.00
2,319.41
2,319.41*
Balance-Beginning of Year
$146,516.48
242
North Reading
1935 21,319.73
1934 20,040.18 35,848.73
Increase Decrease* 1,279.55 1,361.22
Wilmington
37,209.95
Total Residence Lighting .
$174,839.84
$166,793.32
$ 8,046.52
Metered Sales-Commercial Lighting:
Reading
$ 21,436.23
$ 19,996.85
$ 1,439.38
Lynnfield
761.28
691.14
70.14
North Reading
4,438.09
4,086.71
351.38
Wilmington
5,371.31
4,636.40
734.91
Total Commercial Lighting
$ 32,006.91
$ 29,411.10
$ 2,595.81
Metered Sales-Commercial Heating:
Reading
$ 6,373.48
$ 5,787.82
$ 585.66
Lynnfield
542.16
557.17
15.01*
North Reading
871.17
741.52
129.65
Wilmington
1,963.34
1,872.88
90.46
Total Commercial Heating
$ 9,750.15
$ 8,959.69
$
790.76
Metered SalesWholesale Power:
Reading
$ 5,204.95
$ 4,495.90
$ 709.05
Lynnfield
.00
.00
.00
North Reading
1,645.77
1,603.99
41.78
Wilmington
.00
.00
.00
Total Wholesale Power .
$ 6,850.72
$ 6,099.89
$ 750.83
Metered Sales-Retail Power:
Reading
$ 11,287.81
$ 13,073.86 $
1,786.05*
Lynnfield
720.50
574.09
146.41
North Reading
490.77
541.19
50.42*
Wilmington
1,641.54
1,466.06
175.48
Total Retail Power
$ 14,140.62
$ 15,655.20
$ 1,514.58*
Sales to Other Electric Companies:
Wakefield
$ 277.93
$ 203.33
$ 74.60
Lowell
42.83
45.87
3.04*
Lawrence
578.07
270.85
307.22
243
1935
1934
Increase Decrease*
Peabody
9.00
9.00
.00
Edison Elec. Illum. Co. of Boston
49.48
52,39
2.91*
Total Sales to Other Co's.
$ 957.31
$ 581.44
$ 375.87
Municipal Revenue:
Street Lighting:
Reading
$ 17,321.00 $ 13,831.00
$ 3,490.00
Lynnfield
2,295.15
2,257.95
37.20
North Reading
4,494.61
4,473.40
21.21
Wilmington
7,701.51
7,706.59
5.08*
Total Street Lighting Inc.
$ 31,812.27
$ 28,268.94
$ 3,543.33
Buildings:
Lighting and Heat
$ 2,520.02
$ 2,732.83
$ 212.31*
Power-Retail and Wholesale
6,323.43
6,233.21
90.22
Total
Inc .- Mun.
Bldgs.
$ 8,843.45
$ 8,966.04
$ 122.59*
Total Income from Sales-
Electric Energy
$279,201.27 $264,735.32 $ 14,465.95
(See Exhibit "B")
SCHEDULE "2"
TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE CLASSIFIED STATEMENT OF OPERATING EXPENSES For the Years Ended December 31, 1935 and 1934
1935
1934
Increase Decrease*
I Production Expenses:
607 Water for Steam
$ 35.41
$ 33.85
$ 1.56
609 Station Supplies
981.48
731.39
250.09
611 Maint. of Sta. Structures ..
137.31
888.41
751.10*
612 Maint. of Boiler Plant
Equipment
51.16
138.38
87.22*
614 Maint. of Turbo-Generator Units
11.50
.00
11.50
.
244
615 Maint. of Elec. Generator Equipment
616 Maint. of Accessory Elec. Equipment
634 Elec. Energy Purchased .
.00
6.45
6.45*
11.90
49.65
37.76*
92,627.35
84,272.63
8,354.72
Total Production Expenses
$ 93,856.11
$ 86,120.77 $ 7,735.34
II-Transmission and Distribution Expenses:
636 Transformer Station and Substation Superintendence and Labor
$
9,370.64 $ 9,374.07 $ 3.43*
638 Operation of Transmission and Distribution Lines ....
21,323.31
21,0.0.69
247.62
639 Transmission and Distribu- tion Supplies and Expense
812.90
256.72
556.13
640 Inspecting and Testing Me- ters
1,482.41
1,657.54
175.13*
641 Removing and Resetting Meters
2,445.59
2,787.58
341.99*
642 Removing and Resetting Transformers
352.39
313.63
38.76
647 Maint. of Transmission and Distribution Lines
17,240.24
15,318.39
1,921.85
648 Maint. of Underground Conduits
5.91
20.07
14.16*
649 Maint. of Underground Conductors
94.46
263.32
168.86*
650 Maintenance of Consumers' Meters
470.06
445.97
24.09
651 Maint. of Transformers . .
309.73
175.48
134.25
Total Transmission and Distribution Expenses . . $ 60,823.41 $ 58,861.11 $
1,962.30
III Utilization Expenses:
654 Operation of Municipal St.
Lamps $ 3,648.16 $ 4,155.66 $ 507.50*
657 Maint. of Municipal Street Lamps
1,095.83
805.58
290.25
637 Transformer Station and Substation Supplies and Ex- pense
6,910.77
7,167.65
256.88*
245
1935
1934
Increase Decrease*
659 Maint. of Consumers' In- stallations
6,850.14
6,950.48
100.34*
Total Utilization Expenses
$ 11,594.13 $ 11,911.72
$ 317.59*
IV Commercial Expenses:
660 Commercial Salaries
$ 10,635.75 $ 10,699.65
$ 63.90*
661 Commercial Supplies and Expenses
3,726.68
3,741.51
14.83*
Total Commercial Exps.
$ 14,362.43
$ 14,441.16
$ 78.73*
V New Business Expenses:
662 New Business Salaries ....
$ 130.92
$ 135.95
$ 5.03*
663 New Business Supplies and
Expenses
69.99
91.97
21.98*
664 Advertising
2,900.74
2,435.98
464.76
Total New Business Exps. $ 3,101.65
$ 2,663.90
$ 437.75
VI Miscellaneous and General Expenses:
666 Salary of Manager ....
$ 5,267.60
$ 5,267.60
.00
667 Salaries of Gen. Off. Clerks
6,077.35
6,337.87
260.52*
668 Gen. Off. Supplies and Exps.
2,082.12
2,296.04
213.92*
669 General Office Rents
1,009.27
1,232.49
223.22*
671 Insurance
2,043.37
2,491.39
448.02*
673 Accidents and Damages
22.92
66.08
43.16*
674 Stores Expense
3,254.78
3,162.68
92.10
675 Transportation Expense
2,180.09
2,414.70
234.61*
676 Inventory Adjustments
1,556.80
1,984.67
427.87*
677 Maint. of Gen. Structures .
866.73
.78
865.95
678 Depreciation
27,986.65
36,219.05
8,232.40*
679 Misc. Gen. Expense
620.79
814.97
194.18*
Total Miscellaneous and
Gen. Expenses
.52,968.47
$ 62,288.32
$ 9,319.85*
Total Operating Expenses
$236,706.20
$236,286.98
$ 419.22
246
SCHEDULE "3" TOWN OF READING - MUNICIPAL LIGHT DEPARTMENT BONDS AND NOTES AUTHORIZED, ISSUED AND OUTSTANDING AS AT DECEMBER 31, 1935
BONDS:
Amount Of
No. Of Date
Original
Rate of Payments of Principal Int.
Interest Payable
1
$ 50,000.00 $
00 $
.00
$ .00
2
May 1907
10- 1-1907
26,000.00
1,000. yearly
26 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.
41/2
April 15-October 15
23,500.00
00
00
.00
1,000. yearly
10 Yrs.
5
Sept. 1914
9-15-1914
8,000.00
500. yearly
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.
November 15-May 15
9,000.00
500.00
2.50
7
March 1917
10- 1-1917
55,000.00
3,000.
yearly 18 Yrs.
41/2
April 1-October 1
51,000.00
500.00 3,000.00
1,000.00
11.25
1,000. yearly
1 Yr.
8
October 1918 1- 1-1919
12,000.00
1,000.
yearly
4 Yrs. 41/2 January 1-July 1
9,500.00
500.00
2,000.00
45.00
500.
yearly
16 Yrs.
9
March 1919
4- 1-1919
20,000.00
1,000.
yearly
20 Yrs.
43/4
October 1-April 1
15,000.00
1,000.00
4,000.00
47.50
10
March 1920
5- 1-1920
20,000.00
1,000.
yearly
20 Yrs.
5
November 1, May 1
14,000.00
1,000.00
5,000.00
41.67
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
13
March 1930
6- 1-1930
15,000.00
2,000.
yearly
5 Yrs.
4
June 1-December 1
8,000.00
2,000.00
5,000.00
16.67
1,000.
yearly
5 Yrs.
14
March 1931
4-15-1931
40,000.00 2,000.
yearly 20 Yrs. 31/2
October 15-April 15
6,000.00
2,000.00
32,000.00
233.34
Total Bonds
$322,500.00
$263,000.00 $10,000.00 $49,500.00
$ 397.93
1 August 1894
10- 1-1894 $ 50,000.00
1,000. yearly 10 Yrs. 4 % April 1-October 2,000. yearly 20 Yrs.
Balance Out- Retired to Amount Standing Retired Decem. Decem. Amount Jan. 1, 1935 During '35 31, 1935 31, 1935
Accrued Interest
Issue Authorized
Date Issued
Issue
2,000.
yearly
5 Yrs.
SCHEDULE "3" Continued
Balance
Accrued
Amount
Out- Amount Standing
Interest
Issue Authorized
Issued
Issue
Rate of Pay ments of Principal Int.
Interest Payable
NOTES :
1
March 1895
5- 1-1396
$
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
00
4
March 1893
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
.00)
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
CO
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
.00
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
0)
11
March 1915
5-15-1915
12,000.00
800.
Yearly
15 Yrs.
4
November 15-May 15
12,000.00
.00
00
.00
12
March 1915
7-15-1915
4,000.00
500.
Yearly
8 Yrs.
4
January 15-July 15
4,000.00
00
.00
.00
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
16
Dec. 1922
12-15-1922
7,000.00
1,000.
Yearly
7 Yrs. 41/2
June 15-December 15
7,000.00
.00
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