1935-05-28 - Laserfiche WebLink

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SELECTMENtS MEETING MAY 28th, 1935. A regular meeting of the Board of Selectmen was held in the Selectmen's Room, -Town Offices, Lexington. Messrs. Ferguson, Gilcreast, Lyons, and Potter were present. The Clerk was also -present. Mr. Richard Whittemore appeared before the Board in regard to insurance. He stated that he called at the office of the Supt. of Public Works about two weeks ago to inquire if he or the Board of Selectmen were the proper, person to see in regard to the matter. Mr. Whittemore received a letter frogs the Clerk of the Board to the affect that the policy expiring on June lst would not be renewed through his office. He said that Mr. Trask had informed him that he was going to handle the placing of insurance, and the Chairman advised Mr. Whittemore that Mr. Trask was going to handle the insurance as far as seeing that everything was covered was concerned, but that the Board would handle the actual placing of insurance. Mr. Potter asked Mr. Whittemore if he made his living handling insurance, and Mr. Whittemore stated that he did, that his real source of income was from insurance, and that the gas station and fuel oil business were only side lines, and that he would be much better off if he did not have them. Mr. Whittemore asked the Chairman if there was any good business reason why he had not been Im Whittemore on insurance., given the insurance, and the Chairman replied that the only reason was that the Board had voted not to renew through his office, and that the business had already been placed elsewhere. Mr. Whittemore then asked the Board if he might be given consideration when his other policies expire, and the Board said that he would. At 7:45 P.M. bids were opened on the loan of $100,000. in anticipation of revenue. The bids were submitted as follows: - - Firm New England. Trust Co. Faxon Gade Co. West Newton Savings Bank First Boston Corporation Newton, Abbe Co. Whiting, Weeks & Knowles Second National Bank Merchants National Bank Lexington Trust Co. Discount. .235 .32 .34, Premium of $1.00 .335 Loan. .28 .29 .245 .27 .20 Premium of $1.00 It was voted that the Lexington Trust Company be awarded the loan in the amount of $100,000., to be dated May 29th and payable September 20, 1935, in anticipation of revenue.