OK -- 120 holes is fine
The Brooklyn Edison Company (1919-1943) after initially using designs from it's earlier incarnations shifted to a quieter design for some of its covers, probably in the 1930's.
A simple small grid background with depressed lines and a circular badge in the center, this cover apparently did not allow enough ventilation without the addition of 120 or so drilled holes - (the number varies on other lids.) Note also the different size grid on the seat rim, a consistent feature of this type lid.
Pre-ConEdison electrical distribution
This particular cover is on Gates Ave near Nostrand Ave, but similar covers are spotted across Brooklyn.