COMBINED BALANCE SHEETS (USD $)	Jul. 31, 2012	Oct. 31, 2011
ASSETS
Land improvements, buildings and equipment, net		$ 22,613,121
Land held for investment, principally unimproved		6,905,668
Long-lived assets held for sale		2,941,148
Prepaid expenses and other assets		483,434
Assets of discontinued operations		10,770,222
LIABILITIES:
Debt		27,113,120
Liabilities of discontinued operations	1,010,384	1,010,384
COMBINED SHAREHOLDERS' EQUITY:
Total shareholders' equity	28,374,727	29,753,937
Unaudited
ASSETS
Land and land development costs	20,610,824
Land improvements, buildings and equipment, net	21,654,494
Land held for investment, principally unimproved	6,890,282
Long-lived assets held for sale	935,000
Cash and cash equivalents	331,936
Cash held in escrow	254,041
Prepaid expenses and other assets	234,011
Accounts receivable and mortgages receivable	289,347
Total Assets	51,199,935
LIABILITIES:
Debt	16,857,454
Accounts payable	114,849
Accrued liabilities	288,025
Deferred income	814,309
Accumulated deferred income taxes	1,593,708
Accrued pension expense	3,156,863
Total liabilities	22,825,208
COMBINED SHAREHOLDERS' EQUITY:
Capital stock	819,731
Capital in excess of stated value	19,829,475
Earnings retained in the business	12,083,249
Accumulated other comprehensive loss	(2,272,321)
Shareholders' equity before capital stock in treasury	30,460,134
Less cost of shares of capital stock in treasury	2,085,407
Total shareholders' equity	28,374,727
Total liabilities and shareholders' equity	51,199,935
Audited
ASSETS
Land and land development costs		20,642,787
Land improvements, buildings and equipment, net		22,613,121
Land held for investment, principally unimproved		6,905,668
Long-lived assets held for sale		2,941,148
Cash and cash equivalents		377,158
Cash held in escrow		211,881
Prepaid expenses and other assets		483,434
Accounts receivable and mortgages receivable		160,290
Assets of discontinued operations		10,770,222
Total Assets		65,105,709
LIABILITIES:
Debt		27,113,120
Accounts payable		437,783
Accrued liabilities		415,935
Deferred income		733,734
Amounts due to related parties		24,792
Accumulated deferred income taxes		2,303,708
Accrued pension expense		3,312,316
Liabilities of discontinued operations		1,010,384
Total liabilities		35,351,772
COMBINED SHAREHOLDERS' EQUITY:
Capital stock		819,731
Capital in excess of stated value		19,829,475
Earnings retained in the business		13,462,459
Accumulated other comprehensive loss		(2,272,321)
Shareholders' equity before capital stock in treasury		31,839,344
Less cost of shares of capital stock in treasury		2,085,407
Total shareholders' equity		29,753,937
Total liabilities and shareholders' equity		$ 65,105,709