PAGE TWO AUDITOR’S REPORT OF PATTON BOROUGH AND PATTON BOROUGH WATER WORKS FOR YEAR OF 1938. We, the undersigned, Auditors of the Borough of Patton, Pennsylvania, have Income from Equipment carefully checked the boeks of account of Patton Borough and the Borough of | Patton Water Works for the year ending December 31, 1938, and respectfully THE UNION PRESS-COURIER. POLE TBE cious itemise miss si 41.75 submit herewith a report of our examination which is correct to the best of | our knowledge and belief, Respectfully submitted, FRANCIS X. YOUNG, H. J. MULLIGAN, R. G. SHANNON. BOROUGH OF PATTON. STATEMENT OF ASSETS AND LIABILITIES FOR THE YEAR 1938 CURRENT ASSETS: First :National Bank ........coe.i Sewer Assessments Receivable Sewer Extensions Receivable ... Paving Assessments Receivable ... WJ. Gill BHst., Rent... $7,276.06 5490.74 . 203.84 cerns 3,010.92 TC. Gill, Rent ....... ih T. C. Gill, Collector ....... Alley Paving Assessments Rec. .. Tax Returns Year 1931 .......... Tax Returns Year 1932 .. Tax Returns Year 1933 .. Tax Returns Year 1934 .. Tax Returns Year 1935 ... Tax Returns Year 1936 as Tax Returns Year 1937 ..........c.. Total Current Assets .... PROPERTY AND IMPROVEMENTS: Municipal Hall .......coiinmid inn Fire Truck ... AT Equipment nebo shenebese ees Furniture and Fixtures ..... Borough Truck .......... Cement Mixer .. are Steam Roller ....... Siren Property airs Paving Contracts Total ASSES ......comnimisisnim— CURRENT LIABILITIES: Borough of Patton Water Works ............. Total Current Liabilities ...... SURPLUS: Reserve for Depreciation ..........o... Balance December 31, 1938 ......... Plus Net Profit for year 1938 ... Total Liabilities 2,928.20 $27,642.30 512,000.00 4,000.00 258.53 419.09 350.00 56.50 528.54 351.75 295.86 38,634.75 | $66,277.05 $13,500.00 $13,500.00 Ban 4,487.90 $43,883.10 4,406.05 | 48,289.15 $66,277.05 BOROUGH OF PATTON. STATEMENT OF INCOME AND EXPENSE FOR THE YEAR 1938. INCOME: Rent Income Tax Duplicate Penalties on Taxes . ad Percentage gained on Ret. Tax .. Tax Redemptions . Arh Taxes Received by Com. Sales ...... Fines and Licenses EA THAT OLD MINING LAMP (Written by George Trumble, Morris- dale, Pa., and appearing in the Johns- town Tribune.) It's often I think of the days long ago, When I was just a small lad And when to the mine every morning at dawn With my brother and dear old Dad. Then each of us carried a big dinner pail, While strung on our backs was a flask That was filled with black coffee to slacken our thirst As we toiled at our long daily task. When we reached the old smiddy just close to the mine, Bill would get out the picks or the drill, Then I'd count the output of yester- day's sheet And note down the weighmaster’s bill. Then we'd light our lamps and enter the pit, Mid darkness so dense and so damp, And grope our way to the place where we worked By the light of that old, oily lamp. Oh, that old oily lamp has gone with the past And the carbide has taken its place; They never need oil or wick anymore In the lamps they now use at the face. But I don’t like the smell of carbide lyou know, For it makes me as cross as a crank, When I think of the days when with pleasure we worked By the light of that old oily lamp. The old mining lamp is dear to the heart Of the miner of long, long ago, For he knows that the light he is us- ing today Don't shine with the same steady glo. Though the old lamp was smoky and greasy, too. He prefers it to these that are new, And he ne'er had to fill the old lamp in the dark, And with carbide you now have to do. You didn’t need rimmers to swab out the jec, There was no need to rub on the spark, And you didn't need water to put in the lamp For fear you would get in the dark. You need not unscrew that old lamp In two, Or with spit make the dry carbide damp, And you never lost time, like men do today, i When they worked with that old, oily lamp. i FOR SALE—Draia tile, also Buff Facing Tile for Walls of any thickness including foundations. © This material approved by Penna. Dept. of Health. — THE HUMPHREY BRICK & TILE COMPANY, Brookvila, Pa. . 4. 5 48.00 .. 9,214.59 36.21 vr 506.32 nisin brim 23.83 dio eters 44.97 rh aaa 75.90 New COLD-WALL Frigidaire with the Meter-Miser! THE WORLD'S FIRST “COLD-WALL” REFRIGERATOR! Built on an entirely New Principle that saves food's vital freshness from drying out For the first time, you can now store even highly perishable foods — and prolong their original freshness, retain their nourishing richness and oe peak fresh LHQUOT LICENSEE o.com aisles 1,416.67 472.50 Total Income $11,880.74 EXPENSES: Appropriation to Fire Company Maintenance of Streets Light teste rR ER A Printing ; a Telephone ... ives Compensation Insurance Insurange oo... Auditors’ Compensation ......ocms mmm Damages . AH Board of Health Burgess’ Salary ocean Tax Collector's Compensation State Taxes we Legal Expense Engineering ...ccc. Rents... 224.00 Postage sisievicsaisainsaeei aint sb 82.50 Cambria County, Commission on Ret. Taxes is 66.90 Discounts given on Current Taxes ......... comme 250.94 Tax Exonerations .. a 449.05 Borough AsSSoCIalion DURS comin 14.00 General Expense 67.03 Total Expense ... _ NET PROFIT FOR YEAR 1938 .. BOROUGH OF PATTON WATER WORKS. STATEMENT OF EARNINGS FOR THE YEAR 1938. WATER RENTALS .. reports een unebr sss bass OPERATING EXPENSE: labor ..... ie $5,338.07 Supplies iibenamerttisieieotes 3,223.37 Repairs to Machinery ..... 43.36 $8,604.80 Less Miscl. Operating Inc. .... vt A IE es 91.11 ross Profits from Operations .. GENERAL EXPENSE: Salaries kets rere msTiiewiserivere wine 31,080.00 Auditors’ Compensation . 30.00 Telephone ... 30.00 State Taxes 113.80 Net Profit from Operations .. DEDUCTIONS FROM INCOME: Reserve for Depreciation of Plant . Interest on Bonds a $4,000.00 .. 2,500.00 Net Profit from Operation ... ie hl BOROUGH OF PATTON WATER WORKS. CURRENT ASSETS: First National Bank, Depository ..... or sii ASA) Accounts Receivable iri SN .. 33,692.37 Borough of Patton .. 13,500.00 Total Current Assets avor... ourselfin 5 Minutes. See how this new Frigidaire puts you years ahead in every way—in beauty, usability, economy as well as food-preserva- tion. Yet costs no more than ordinary “first-line” refrigerators! longer than ever before! Come in. Convince Big, roomy, you the Same gire’s mo: BENDER ELECTRIC C CHARLSON’S STORE GEORGE BROS. _ HOGUE HARDWARE SHETTIG HARDWARE N. W. MOORE HARDWARE ____ Portage Tm. 149.75 full 6 Cubic Ft. size! Gives Simplest Refrigerating Mechanism, seme Meter-Miset, same one- i | construction an net iece see ear Protection Plan as Frigid- els costing up to $100 more. Quality at a Super-Value price! 7,474.69 $ 4,406.05 $17,252.11 IPLANT AND PROPERTY: | piitration Flant .. | Water Meters Dat © benim ——————— Quilce Furniture and Fixtures | Plant, Property and Franchise ! Improvements meri Chlorinator Total Assets... CURRENT LIABILITIES: Thursday, June 1, 1 9 3 9. Borough of Patton Water Works Purchase 5 per cent uary 1, 1920 . - Less Bonds Paid ........ | { | | | each year until $3,000.00 each year ..... | Less Bonds Paid ... dibverprivie | Total Bonded Indebtedness i Accrued Interest on Bonds ... . | DEFERRED CREDIT ITEM: | Reserve for Depreciation on Plant .... | SURPLUS: | January 1, 1938 ...... bien i Plus Net Gain for Year 1938 .... | TOTAL LIABILITIES .. Serial Bonds, due $2,000.00 each year from Jau- Borough of Patton Water Works Filtration Plant 5 per cent Serial Bonds Due January 1, 1930 at $2,000.00 January 1, 1940, and me—— 58,081.65 i a £23199 2,886.91 210.51 57,198.38 4,673.89 901.12 124,800.09 $172,416.61 ....$60,000.00 40,000.00 $20,000.00 thereafter $ 50,000.00 2,500.00 So a 60,000.00 4 $58,931.99 = re 984.62 59,916.61 $172,416.61 SUSTAIN CAMBRIA | COURT IN DOUBLE | LIABILITY OPINION { Harrisburg — The State Supreme | Court last week upheld the objections of the sharéholders of four closed | banks in Cambria County against the ! banking department’s attempt to make 8,513.69 them pay double the value of their 8,738.42 1,253.80 $ 7,484.62 6,500.00 $ 984.62 | STATEMENT OF ASSETS AND LIABILITIES FOR YEAR 1938. $ 47,616.52 CONVENIENT TERMS AS LOW AS shares to depositors. The high court affirmed the opinion of the common pleas court of Cambria ! County holding the state department ! | had no authority to seek equity against shareholders of the Miners and Mer- chants Bank of Nanty Glo, the Citi- zens Bank of Barnesboro and the Cres- son Deposit Bank of Cresson. “Without expressing an opinion on | any other question,” the Supreme Court held, “this court feels that the preliminary objections of the share- | holders were ‘properly sustained in | lower court, for the reason that the banking secretary mistook his remedy. | “Where he seeks to recover full am- , ount of double statutory liability, he has an adequate and complete remedy at law. It is unnecessary for the sec- retary to invoke tne jurisdiction of equity.” BE ,. Ebensburg — The opinion handed down by the Supreme Court sustained an opinion given by President Judge John H. McCann and Judge lvan J. McKenrick. The two Cambria County judges had ruled that no notice was given in the title of the Act of Assem- bly indicating that shareholders in state banks were liable to double assessment. The county court also held that in the case of ordinary corpora- tions, stockholders are not liable to ad- ditional liaibility beyond their hold- ings. It was pointed out that under the new state and banking acts that stock- holders are not subject to double lia- | bility. An advertisement in the Union Press Courier brings you results. REUEL SOMERVILLE ATTORNEY-AT-LAW | | | Office in Goud Blde.. Patton i 4 J ’ d same General ATING COILS. @ This provides all 3 essentials for keepi foods SF fresh longer than ever rma Uniform Low Tem | _T—u ALSO A COMPLETE LINE OF FRIGIDAIRE AIR CONDITIONING — BEER COOLING — MILK COOLING AND HO- TEL, RESTAURANT AND MEAT MARKET COOLING EQUIPMENT. - Barnéshory COMMONS’ HARDWARE _._____ Nanty-Gle BARNES STORE CO. _______ Bakerton South Fo BAKERTON SUPPLY CO. —._ Elmora Ay HUGHES STORE CO. Lilly JOHN MARUSK A Geis Ebensburg BARNES & TUCKER BTORE H. J. EASLY FURNITURE COMPANY Barnesbore STORE Hastings NOW, FOR THE FIRST TIME 1 THE NEW “DEW -FRESH SEAL”— A ® SOLID GLASS PARTITION — DIVIDES THE CABINET INTO 2 COMPARTMENTS. and 2 THE LOWER COMPARTMENT IS RE- ® FRIGERATED DIRECTLY THROUGH pe THE WALLS BY CONCEALED REFRIGER- ity. 3. No Moisture-Robbing Air Circulation. All without adding a single moving pare! AND ONLY FRIGIDAIRE HAS IT! CARROLLTOWN * & JOHNSTOWN 27 “4 es. 2. High Humid- (1352) | { | 5530
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