USA > Massachusetts > Middlesex County > Reading > Town of Reading Massachusetts annual report 1937 > Part 11
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Total
$ 43,264.65
From invoices examined, it appeared that all invoices applicable to the year had been recorded.
Consumers' Deposits-$8,730.81
As at December 31, 1937 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 the caption "Consumers' Deposit Fund." The total of balances shown by the individual consumers' account was in agree- ment with the above amount. Interest is paid on deposits held by the Department six months or more at the rate of four (4) per cent per annum.
Accrued Items-$687.09
Interest accrued on bonds and notes outstanding was computed by us.
Confirmation of the amount owing the Town Treasurer on account of a loan to this Department for petty cash purposes was received from the Town Accountant.
Premium on bonds represents the net premium received on the issue of notes April 1, 1937 previously referred to. The net amount will be carried on the books until the first payment is made on account of principal in 1938.
Loans Repayment-$386,900.00
The balance of this account reflects an increase of $9,500.00 during the year which represents the amount of bonds and notes retired dur- ing 1937. The above balance may be summarized as follows :
Total
Balance
Issue
Outstanding
Bonds
$322,500.00
$ 37,000.00
Total Retired $285,500.00
Notes
191,400.00
90,000.00
101,400.00
Totals
$513,900.00
$127,000.00 $386,900.00 See Schedule "3" of this report for further detail of above.
149
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 by the Department.
Profit and Loss-$151,915.96
The increase in the profit and loss account amounted to $14,192.15 during the year. A detail of this increase is set forth in Exhibit "C" of this report.
The net income of the Department for the year was $45,974.15 be- fore bond and note retirement, payment to the Town Treasurer and miscellaneous adjustments. A detail of net income is shown in Ex- hibit "B".
COMMENTS AND EXPLANATION OF OPERATIONS
A summary of the increase in net income for the year 1937 over 1936 is as follows :
Items
Total Operating Revenue
Increase Decrease* $16,645.38 9,720.05
Total Operating Expenses
Net Operating Revenue
$ 6,925.33
Deductions from Operating Revenue
36.84*
Net Operating Income
$ 6,962.17
Non-Operating Income
123.39
Total Income
$ 7,085.56
Deductions from Total Income
1,191.15
Net Income
$ 5,894.41
The increase in total operating revenues for the year is mainly attributable to increased sales of kilowatt hours for "Residence Ser- vice", "Commercial Lighting", "Commercial Power-Retail", and "Com- mercial Power-Wholesale." According to the records, kilowatt hours sold in 1937 for these classes of income exceeded the sales for 1936 by 724,927, resulting in an increase in income from these sources of $19,735.14.
Kilowatt hours sold during 1937 totaled 8,248,096 as compared with
150
7,456,400 per 1936. The average revenue per kilowatt hour sold in 1937 was $.0385 as compared with $.0403 for 1936.
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 the same.
Other Comments
At a meeting of the voters of the Town held in March 1937, it was voted among other things, that, if the income of this Department, including the appropriation for street lighting shall exceed the ex- penses, as defined in Section 57 of Chapter 164 of the General Laws, for the current year, $22,000.00 of such excess shall be transferred 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 1937, as defined in Section 57 of Chapter 164 of the General Laws amounted to $36,192.15.
The Department turned over $22,000.00 to the Town Treasurer in accordance with the above vote.
A contingent liability in the amount of $16,798.05 existed at De- cember 31, 1937 on account of leases received from installment sales of electrical appliances and which were discounted with the Malden Morris Plan and the First National Bank of Reading.
Leases discounted with the Malden Morris Plan are now held by the First National Bank of Malden.
The Department carries a blanket policy bonding all employees of the Department in the amount of $2,500.00 each. Additional cover- age is carried as follows :
Manager $ 2,500.00
Office Manager 2,500.00
Cashiers (2) 2,500.00 each
Collectors (2) 500.00 each
The accompanying 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 Light- ing Plants" as prescribed by the Department of Public Utilities of Massachusetts.
Respectfully submitted,
CHARLES E. STANWOOD & COMPANY
151
EXHIBIT "A"
TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE BALANCE SHEET AS AT December 31, 1937 and 1936 ASSETS
Increase
Plant Investment
1937
1936
.00 Decrease* $
· 113 Structures
30,401.85
31,126.04
724.19*
114 Boiler Plant Equipment
250.00
2,797.86
2,547.86*
115
Prime Movers and Auxiliaries
250.00
1,178.55
928.55*
116 Turbo-Generator Units
500.00
1,221.50
721.50*
117 Electric Plant-Steam
58,907.61
60,137.78
1,230.17*
123 Transformer Station and Sub- station Equipment
33,932.68
456.15
33,476.53
125 Poles, Fixtures and Over-
head Conductors
255,119.61
252,748.99
2,370.62
126 Underground Conduits
75,098.06
53,160.93
21,937.13
127
Underground Conductors
62,256.56
45,974.42
16,282.14
128 Consumers' Meters
35,164.58
34,996.52
168.06
129 Consumers' Meter Installa-
tions
10,419.24
9,385.27
1,033.97
130 Line Transformers
35,573.37
36,938.48
1,365.11*
131 Transformer Installations
4,113.21
4,286.86
173.65*
132
Street Lighting Equipment
18,003.81
15,822.60
2,181.21
TOTAL PLANT EQUIPMENT
$622,566.38
$552,807.75
$69,758.63
General Equipment
150 Office
$ 5,928.00
$ 6,504.50
$ 576.50*
152 Stores
355.00
500.23
145.23*
153 'Transportation
5,250.00
6,389.50
1,139.50*
154 Laboratory
1,764.61
2,062.85
298.24*
155 Miscellaneous
633.42
857.44
224.02*
TOTAL GENERAL EQUIPMENT
$ 13,931.03
$ 16,314.52
$ 2,383.49*
201 Unfinished Construction
$ .00
$ .00
$ .00
TOTAL INVESTMENT
$636,497.41
$569,122.27
$67,375.14
Current Assets
204-2 Construction Fund
$ 8,305.02
$ 5,393.01
$ 2,912.01
204-3 Petty Cash Fund
250.00
250.00
.00
205-1 Depreciation Fund
.00
.00
.00
205-2 Consumers' Deposit Fund
8,730.81
8,109.81
621.00
206
Notes Receivable
428.43
790.18
361.75*
207-1
Accounts Rec., Consumers
29,201.71
26,671.36
2,530.35
2,575.80
$ 2,575.80
111 Land
$
152
Increase Decrease*
207-2 Accounts Rec., Miscell.
209-1 Materials and Supp .- Gen.
1937 7,852.87 29,113.67
1936 9,379.81 28,230.10
1,526.94*
2 Sta. Tools and Appliances
766.88
634.34
132.54
3 Distrib. Tools & Appliances
4,959.28
7,142.70
2,183.42*
4 Printing and Office Supp. .
700.47 18,048.87
15,708.89
2,339.98
5A Leased App. (Depreciated) 6 Coal Supplies
662.39
408.81
253.58
9 Station Supplies
303.24
236.60
66.64
TOTAL CURRENT ASSETS
$112,053.09
$108,595.21
$ 3,457.88
Prepaid Items
214 Prepaid Insurance
$ 1,196.07
$ 1,107.77
$ 88.30
GRAND TOTALS
$749,746.57
$678,825.25
$ 70,921.32
LIABILITIES AND PROFIT AND LOSS
Bonds and Notes Payable
305 Bonds Payable
$ 37,000.00
$ 42,500.00 34,000.00
$ 5,500.00* 56,000.00
TOTAL BONDS AND NOTES
PAYABLE
$127,000.00
$ 76,500.00
$ 50,500.00
Current Liabilities
308 Accounts Payable
$ 43,264.65
$ 47,755.45
$ 4,490.80*
309 Consumers' Deposits
8,730.81
8,109.81
621.00
TOTAL CURRENT LIABILITIES $ 51,995.46
$ 55,865.26
$ 3,869.80*
Accrued Items
314 Interest Accrued on Bonds and
Notes $ 687.09
$ 407.92
$ 279.17
315 Other Accrued Items-Loan due Town Treasurer
250.00
250.00
.00
316 Premium on Bonds
319.80
.00
319.80
TOTAL ACCRUED ITEMS
$ 1,256.89
$ 657.92
$ 598.97
Appropriated Surplus
322 Loans Repayment
$386,900.00
$377,400.00
$ 9,500.00
323 Appropriation for Construc- tion Repayment
30,678.26
30,678.26
.00
TOTAL APPROPRIATED SUR- PLUS
$417,578.26 $408,078.26 $ 9,500.00
Profit and Loss
400 Profit and Loss Balance
(See Exhibit "C")
$151,915.96
$137,723.81 $ 14,192.15
GRAND TOTALS
$749,746.57
$678,825.25 $70,921.32
810.70
110.23*
5 Lamps and Appliances ....
2,729.45
4,828.90
2,099.45*
306 Notes Payable
90,000.00
883.57
153
EXHIBIT "B" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE STATEMENT OF OPERATIONS FOR THE YEARS ENDED DECEMBER 31, 1937 AND 1936
Rates
Revenue From Sales-Electric Energy
1937
1936
Increase Decrease* $ 14,046.97
1937
1936
501 Metered Sales-Residence Lighting
$202,747.48
$188,700.51
63.8
62.7
Metered Sales-Commercial Lighting
36,831.90
35,531.93
1,299.97
11.6
11.9
Metered Sales-Commercial Heating
10,834.32
10,663.12
171.20
3.4
3.5
Metered Sales-Wholesale Power
8,022.55
7,484.20*
538.35
2.54
2.5
Metered Sales-Retail Power
19,873.09
16,023.24
3,849.85
6.3
5.3
505
Sales to Other Companies
1,059.47
986.92
72.55
.3
3
Street Lighting
29,217.03
32,104.50
2,887.47*
9.2
10.6
Municipal Buildings-Light and Power
8,830.80
9,259.78
428.98*
2.8
3.1
TOTAL REVENUE FROM SALES-ELECTRIC ENERGY
$317,416.64
$300,754.20
$ 16,662.44
99.9
99.9
508 Rent from Property Used in Operations
317.93
334.99
17.06*
.1
1
TOTAL OPERATING REVENUE
$317,734.57
$301,089.19
$ 16,645.38
100.0
100.0
Electric Operating Expenses :
I Production
$105,865.41
$ 97,784.90
$ 8,080.51
33.3
32.5
II Transmission and Distribution
60,310.79
61,069.99
759.20*
19.0
20.3
III
Utilization
10,875.06
11,642.51
767.45*
3.4
3.9
IV
Commercial
16,434.11
15,597.75
836.36
5.2
5.2
V New Business
2,986.52
4,472.15
1,485.63*
.9
1.5
VI General and Miscellaneous
60,212.17
56,396.71
3,815.46
19.0
18.7
TOTAL OPERATING EXPENSES
$256,684.06
$246,964.01
$ 9,720.05
80.8
82.1
NET OPERATING REVENUE
$ 61,050.51
$ 54,125.18
$ 6,925.33
19.2
17 9
Deductions
550 Uncollectible Operating Revenue
$ 1,513.10
$ 1,676.74
$ 163.64*
551 Taxes assignable to Electric Operations
3,990.80
3,864.00
126.80
TOTAL DEDUCTIONS
$ 5,503.90
$ 5,540.74
$ 36.84*
NET OPERATING INCOME
$ 55,546.61
$ 48,584.44
$ 6,962.17
Non-Operating Income
566 Miscellaneous Non-Operating Income
$ 647.52
$ 524.13
$ 123.39
TOTAL NON-OPERATING INCOME
$ 647.52
$ 524.13
$ 123.39
TOTAL INCOME
$ 56,194.13
$ 49,108.57
$ 7,085.56
Deductions From Total Income
560 Merchandise and Jobbing Loss
$ 5,685.61
$ 5,158.23
$ 527.38
561
Rent Electric Appliances
1,303.01
1,306.02
3.01*
576
Interest on Bonds and Notes
3,206.67
2,560.41
646.26
563
Interest Expense
24.69
4.17
20.52
TOTAL DEDUCTIONS FROM INCOME
$ 10,219.98
$ 9,028.83
$ 1,191.15
NET INCOME-TRANSFERRED TO PROFIT AND LOSS EXHIBIT "C"
$ 45,974.15
$ 40,079.74
$ 5,894.41
EXHIBIT "C" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE ANALYSIS OF PROFIT AND LOSS FOR THE YEARS ENDED DECEMBER 31, 1937 AND 1936
1937
1936
Increase Decrease* $ 9,119.53
Balance-Beginning of Year . . $137,723.81
$128,604.28
Additions:
Net Income-Transferred from Statement of Operations- Exhibit "B"
45,974.15
40,079.74
5,894.41
Premium on Bonds
.00
131.29
131.29*
$183,697.96
$168,815.31
$ 14,882.65
Deductions :
Bonds and Notes Retired .... Funds turned over to Town
$ 9,500.00 $ 11,000.00
$ 1,500.00*
Treasurer in accordance with votes of the Town
22,000.00
20,000.00
2,000.00
Allowances for Rentals paid in prior years on Purchase of Electric Ranges
282.00
91.50
190.50
TOTAL DEDUCTIONS
$ 31,782.00
$ 31,091.50
$
690.50
Balance-End of Year-(See Ex- hibit "A")
$151,915.96 $137,723.81
$ 14,192.15
Net Increase or Decrease* in
Profit and Loss for Year
$ 14,192.15 $ 9,119.53
SCHEDULE "1"
TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE CLASSIFIED STATEMENT OF INCOME FOR THE YEARS ENDED DECEMBER 31, 1937 AND 1936
1937
1936
Increase Decrease*
Metered Sales-Residence Lighting
Reading
$117,291.93
$109,466.35
$ 7,825.58
Lynnfield
16,697.70
15,489.61
1,208.09
North Reading
25,780.26
23,853.77
1,926.49
Wilmington
42,977.59
39,890.78
3,086.81
Total Residence Lighting
$202,747.48
$188,700.51
$ 14,046.97
156
1937
1936
Increase Decrease*
Metered Sales-Commercial Lighting
Reading
$ 23,243.91
$ 22,594.12
$ 649.79
Lynnfield
906.59
847.25
59.34
North Reading
5,398.72
5,586.97
188.25*
Wilmington
7,282.68
6,503.59
779.09
Total Commercial Lighting
$ 36,831.90
$ 35,531.93
$ 1,299.97
Metered Sales-Commercial Heating
Reading
$ 7,206.31
$ 7,253.50
$ 47.19*
Lynnfield
385.46
505.36
119.90*
North Reading
1,008.18
858.83
149.35
Wilmington
2,234.37
2,045.43
188.94
Total Commercial Heating
$ 10,834.32
$ 10,663.12
$ 171.20
Metered Sales-Wholesale Power
Reading
$ 6,278.92
$ 5,408.25
$ 870.67
Lynnfield
.00
.00
.00
North Reading
1,743.63
2,075.95
332.32*
Wilmington
.00
.00
.00
Total Wholesale Power . .
$ 8,022.55
$ 7,484.20
$ 538.35
Metered Sales-Retail Power
Reading
$16,049.28
$ 13,026.63
$ 3,022.66
Lynnfield
744.85
702.75
42.10
North Reading
955.99
418.00
537.99
Wilmington
2,122.97
1,875.86
247.11
Total Retail Power
$ 19,873.09
$ 16,023.24
$ 3,849.85
Total Metered Light, Heat
and Power Income
$278,309.34
$258,403.00
$ 19,906.34
Sales to Other Electric Companies:
Wakefield
$ 350.43
$ 315.12
$ 35.31
Lowell
53.95
80.08
26.13*
Lawrence
553.51
516.76
36.75
Peabody
9.00
9.00
.00
Edison
Electric Illuminating
Company of Boston
92.58
65.96
26.62
Total Sales to Other Com-
panies
$ 1,059.47 $
986.92 $
72.55
Municipal Revenue:
Street Lighting
Reading
$ 14,591.50 $ 17,542.25 $ 2,950.75*
Lynnfield
2,330.15
2,298.51
31.64
157
North Reading
1937 4,569.01
1936 4,552.06
Increase Decrease* 16.95
Wilmington
7,726.37
7,711.68
14.69
Total Street Lighting In-
come
$ 29,217.03 $ 32,104.50
$ 2,887.47*
Buildings
Lighting and Heat
$ 2,687.06
$ 2,792.35
$
105.29*
Power, Retail
and wholesale
6,143.74
6,467.43
323.69*
Total Income-Municipal Buildings
$ 8,830.80 $
9,259.78
$
428.98*
Total Income from Sales- Electric Energy -- (See
Exhibit "B)
$317,416.64 $300,754.20 $ 16,662.44
SCHEDULE "2" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE CLASSIFIED STATEMENT OF OPERATING EXPENSES
For the Years Ended Dec. 31, 1937 and 1936
1937
1936
Increase Decrease*
I Production Expenses
607 Water for Steam
$
.00
$ 31.05
$ 31.05*
609 Station Supplies
5.93
860.80
854.87*
611 Maint. of Sta. Structures
1,488.73
377.17
1,111.56
612 Maint. of Boiler Plant Equipment
1.35
101.53
100.18*
613 Maint. of Steam Engines . .
14.38
.00
14.33
614 Maint. of Turbo-Gen. Units
.00
7.50
7.50*
615 Maint. of Elec. Gen. Equip.
.00
158.03
158.03*
616 Maint. of Accessory Elec. Equipment
360.01
576.13
216.12
617 Maint. of Miscellaneous
Power Plant Equip.
.00
17.34
17.34*
634
Elec. Energy Purchased
103,995.01
95,655.35
8,339.66
Total Production Expenses
$105,865.41
$ 97,784.90
$ 8,080.51
-
158
1937
1936
Increase Decrease*
II Transmission and Distribution Expenses
636 Transformer Station and Sub-station Superintendence and Labor
$ 9,100.94 $ 9,642.44
$ 541.50*
637 Transformer Station and Sub-station Supplies and Expense
1,989.58
7,386.47
5,3 6.89*
638 Operation of Transmission and Distribution Lines
21,829.32
20,373.13
1,456.19
638-2 Operation of Transmission and Distribution Lines (Highway Construction) .
.00
8.70
8.70*
639 Transmission and Distrib. Supplies and Expense
875.09
1,326.90
451.81*
640 Inspect. and Testing Meters
1,554.67
1,510.88
43.79
641 Removing and Resetting Meters
3,274.46
2,861.08
413.38
642 Removing and Resetting Transformers
203.00
335.80
132.80*
646 Maint. of Transformer Sta. and Sub-station Equip.
316.69
11 52
305.17
647 Maint. of Transmission and Distribution Lines
17,411.74
16,135.23
1.276.51
647-1 Maint. of Transmission and Distribution (Renewals)
Lines
.00
442.85
442.86*
647-2 Maint. of Transmission and Distrib. Lines (Highway Construction)
2,845.99
391.55
2,454.44
648 Maint. of Underground Conduits
343.81
9.09
334.72
649 Maint. of Underground
38.39
36.54
1.85
650 Maint. of Consumers'
433.76
301.95
131.80
651 Maint. of Transformers . .
93.35
295.84
202.49*
Total Transmission and Distribution Expenses ... $ 60,310.79
$ 61,069.99
$ 759.20*
III Utilization Expenses
654 Operation of Municipal St. Lamps
3,151.68
4,045.68
894.00*
Conductors
Meters
159
1937
1936
Increase Decrease*
657 Maint. of Municipal Street Lamps
656.40
986.70
330.30*
659 Maintenance of Consumers' Installations
7,066.98
6,610.13
456.85
Total Utilization Expenses
$ 10,875.06 $ 11,642.51
$ 767.45*
Total Production, Trans- mission and Distribution and Utilization Expenses IV Commercial Expenses
$177,051.26 $170,497.40
$ 6,553.86
660 Commercial Salaries
$ 11,404.91 $ 11,459.04
$ 54.13*
661 Commercial Supplies and Expenses
5,029.20
4,138.71
890.49
Total Commercial Expenses
$ 16,434.11
$ 15,597.75
$ 836.36
V New Business Expenses
662 New Business Salaries
$ 106.20
$ 190.82
$ 84.62*
663 New Business Supplies and Expenses
.00
1.75
1.75*
664 Advertising
2,880.32
4,279.58
1,399.26*
Total New Business Exps. $ 2,986.52 Miscellaneous and General Expenses
$ 4,472.15
$ 1,485.63*
VI
666 Salary of Manager ..
$ 5,980.00
$ 5,930.60
$ 49.40
667 Salaries of General Office Clerks
6,846.94
6,531.09
315.85
668 General Office Supplies and Expenses
1,464.67
2,140.68
676.01*
669
General Office Rents
1,224.31
1,145.30
79.01
671
Insurance
2,199.30
2,674.31
475.01*
673
Accidents and Damages
84.67
61.90
22.77
674
Stores Expense
3,849.36
3,318.12
531.24
675
Transportation Expense ..
4,359.21
2,907.88
1,451.33
676 Inventory Adjustments ...
3,292.53
1,491.98
1,800.55
677 Maintenance of General
Structures
801.87
113.34
688.53
678 Depreciation
29,770.06
29,379.00
391.06
679
Miscell. General Expense .
339.25
702.51
363.26*
Total Miscellaneous and
General Expenses
$ 60,212.17
$ 56,396.71 $
3,815.46
Total Operating Expenses
$256,684.06
$246,964.01 $ 9,720.05
160
SCHEDULE "399 TOWN OF READING - MUNICIPAL LIGHT DEPARTMENT BONDS AND NOTES AUTHORIZED, ISSUED AND OUTSTANDING AS AT DECEMBER 31, 1937
BONDS:
Amount Of Original
Rate of Payments of Principal Int.
Interest Payable
1
August 1894
10- 1-1894
$ 50,000.00
1,000. yearly 10 Yrs.
4 % April 1-October 1
$ 50,000.00
$ .00 $
.00
$
00
2
May 1907
10- 1-1907
26,000.00
1,000.
yearly
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.
4
November 15-May 15
10,000.00
.00
.00
.00
7
March 1917
10- 1-1917
55,000.00
3,000.
yearly
18 Yrs.
41/2
April 1-October 1
55,000.00
.00
.00
00
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
10,500.00
500.00
1,000.00
22.50
500.
yearly
16 Yrs.
9
March 1919
4- 1-1919
20,000.00
1,000.
yearly
20 Yrs.
13/4
October 1-April 1
17,000.00
1,000.00
2,000.00
23.75
10
March 1920
5- 1-1920
20,000.00
1,000.
yearly
20 Yrs.
5
November 1, May 1
16,000.00
1,000.00
3,000.00
25.00
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
13
March 1930
6. 1-1930
15,000.00
2,000.
yearly
5 Yrs.
4
June 1-December 1
11,000.00
1,000.00
3,000.00
10.00
14
March 1931
6-15-1931
40,000.00 2,000.
yearly
20 Yrs. 31/2
October 15-April 15
10,000.00
2,000.00
28,000.00
204.17
Total Bonds
$322,500.00
$280,000.00
$5,500.00 $37,000.00
$ 285.42
No. Of Date
Issue Authorized
Date Issued
Issue
Balance Amount Out- Amount Standing Retired Dec. 31 Retired to Jan. 1, '37 During '37 1937
Accrued Interest Dec. 31 1937
2,000. yearly
20 Yrs.
26 Yrs.
5 Yrs.
2,000.
yearly
1,000.
yearly
5 Yrs.
SCHEDULE "3" Continued
NOTES :
Amount Of
Amount
Retired to
Jan: 1, '37 During '37
1937
1937
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
.00
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
.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
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
.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
.00
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
.00
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
.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
.00
.00
17
March 1934
5-15-1934
20,000.00
2,000.
Yearly
10 Yrs.
3
May 15-November 15
4,000.00
2,000.00
14,000.00
52.50
18
March 1935
6-15-1935
20,000.00
2.000.
Yearly
10 Yrs. 13/4
June 15-December 15
2,000.00
2,000.00
16,000.00
11.67
19
March, 1937
4- 1-1937
60,000.00
6,000.
Yearly 10 Yrs. 21/4
April 1-October 1
00
.00
60,000.00
337.50
Total Notes
$191,400.00
$97,400.00
$4,000.00 $90,000.00
$ 401.67
Total Bonds and Notes.
$377,400.00
$9,500.00 $127,000.00
$ 687.09
No. Of Date
Original
Rate of
Issue Authorized
Date Issued
Issue
Pay ments of Principal Int.
Interest Payable
$
Balance Out-
Amount Standing
Accrued Interest Retired Dec. 31 Dec. 31
SCHEDULE "4" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE STATEMENT OF MERCHANDISE OPERATIONS
FOR THE YEARS ENDED DECEMBER 31, 1937 AND 1936
1937
1936
GROSS SALES
$ 31,008.92
$ 37,048.92
Less-Returned Sales . 1,765.75
2,050.74
NET SALES
$ 29,243.17
$ 34,998.18
Cost of Sales
20,066.54
24,231.69
GROSS PROFIT ON SALES
$ 9,176.63
$ 10,766.49
EXPENSES:
Salaries and Wages
$ 7,196.03
$ 7,278.97
Commissions
1,530.59
2,055.35
Free Wiring on In- stallations
2,384.64
2,690.20
Rent
1,224.30
1,145.30
Discount on Loans
2,011.05
2,437.43
Heating (one half)
166.74
165.17
Automobile Exp. ..
183.06
123.50
Express
32.10
18.50
Store Expense
148.35
79.66
Miscellaneous Exp.
8.15
3.96
Dem. Kitchen
...
10.44
.00
TOTAL EXPEN- SES
$ 14,895.45
$ 15,998.04
NET LOSS FROM MERCHANDISE
OPERATIONS
$ 5,718.82
$ 5,231.55
NET GAIN FROM
JOBBING OP-
ERATIONS
...
33.21
73.32
NET LOSS FROM
MERCHANDISE
AND JOBBING
$ 5,685.61
$ 5,158.23
163
SCHEDULE "5" TOWN OF READING-MUNICIPAL LIGHT DEPARTMENT COMPARATIVE DETAIL OF KILOWATT HOURS PURCHASED, SOLD AND USED
FOR THE YEARS ENDED DECEMBER 31, 1937 AND 1936
:
1937
1936
Increase Decrease*
Kilowatt Hours:
Generated
00
00
00
Purchased
9,227,569
8,518,418
709.151
TOTAL
9,227,569
8,518,418
709,151
Kilowatt Hours Sold:
Residence Service
4,798,673
4,340,254
458,419
Commercial Lighting
722,902
695,574
27,328
Commercial Miscellaneous . .
406,998
395,927
11,071
Commercial Power-Retail ..
786,029
568,679
217,350
Comm. Power-Wholesale
413,780
391,950
21,830
Municipal Lighting
109,383
103,746
5,637
Municipal Miscellaneous
4,657
4,928
271*
Municipal Power-Wholesale
323,800
329,610
5,810*
Municipal Power-Retail . .
1,738
1,818
80*
Co-operative Re-sale Service .
33,053
30,188
2,865
Street Lighting
647,083
593,726
53,357
TOTAL KILOWATT HOURS SOLD
8,248,096
7,456,400
791,696
Kilowatt Hours used at Sta-
tion, Office and Garage and Miscellaneous
77,180
90,210
13,030*
Kilowatt Hours used for
Christmas Illumination
16,072
15,041
1,031
Kilowatt Hours Unaccounted for
886,221
956,767
70,546*
TOTAL
9,227,569
8,518,418
709,151
Per Cent Unaccounted for ..
9.60%
11.22%
164
.
ANNUAL REPORT
OF THE
SCHOOL COMMITTEE
OF THE
TOWN OF READING, MASSACHUSETTS
For the year Ended December 31,
1937
ADMINISTRATIVE OFFICERS
School Committee
Frank D. Tanner, Ch., 124 Oak Street Term expires 1938
Irving C. Austin, 180 Prescott Street Term expires 1938
Dr. Charles R. Wakeling, 25 Linden Street Term expires 1939
Miss Margaret Canty, 67 Mineral Street Term expires 1939
Mrs. Esther D. Twombly, 14 Berkeley Street Term expires 1940
Howard T. Clinch, 4 Perkins Avenue Term expires 1940
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