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20. Stock Options and Capital Stock

12 Months Ended

Oct. 31, 2011

20. Stock Options and Capital Stock:

20. STOCK OPTIONS and CAPITAL STOCK:

During Fiscal 2011, Fiscal 2010 and Fiscal 2009, no stock options were issued or exercised.

Option activity during Fiscal 2011, 2010 and 2009 is as follows:

	10/31/11		10/31/10		10/31/09
	Shares	Weighted Average Exercise Price	Shares	Weighted Average Exercise Price	Shares	Weighted Average Exercise Price
Outstanding at beginning of year:	43,000	$38.40	64,600	$36.93	64,600	$36.93
Granted	0		0		0
Exercised	0		0		0
Expired	29,000	$38.11	21,600	$34.00	0
Outstanding at year-end	14,000	$39.00	43,000	$38.40	64,600	$36.93

Options exercisable at year-end	14,000		43,000	$38.40	61,614	$36.83
Option price range	$39.00		$37.80-$39.00		$34.00-$39.00
Weighted average fair value of options granted during year	0		0		0
Weighted average grant date fair value of options granted during year	0		0		0
Weighted average remaining contractual life (in years)	0.42		0.88		1.4

Activity related to non-vested options for the year ended October 31, 2011 is as follows:

	Shares	Weighted Average Grant Date Fair Value Price
Non-vested at beginning of year:	0	-
Granted	0
Vested	0	-
Non-vested at year-end	0

All options are vested, therefore the Companies do not expect to recognize any compensation expense related to non-vested awards over the next year.

The Companies’ policy regarding the exercise of options requires that optionees utilize an independent broker to manage the transaction, whereby the broker sells the exercised shares on the open market.

Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate.

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