-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Mi/W6hLPFkrSNl1syuXdDjgdFlQQz66V2nB5grAiFhRcieLsBiYCh4En0JWKUwMl +tC4VPXxa8sX8cCyPCLFAQ== 0000891092-08-005126.txt : 20081021 0000891092-08-005126.hdr.sgml : 20081021 20081021154810 ACCESSION NUMBER: 0000891092-08-005126 CONFORMED SUBMISSION TYPE: N-30B-2 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20080930 FILED AS OF DATE: 20081021 DATE AS OF CHANGE: 20081021 EFFECTIVENESS DATE: 20081021 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTRAL SECURITIES CORP CENTRAL INDEX KEY: 0000018748 IRS NUMBER: 131875970 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-30B-2 SEC ACT: 1940 Act SEC FILE NUMBER: 811-00179 FILM NUMBER: 081133443 BUSINESS ADDRESS: STREET 1: 630 FIFTH AVENUE STREET 2: SUITE 820 CITY: NEW YORK STATE: NY ZIP: 10111 BUSINESS PHONE: 212-698-2020 MAIL ADDRESS: STREET 1: 630 FIFTH AVENUE STREET 2: SUITE 820 CITY: NEW YORK STATE: NY ZIP: 10111 FORMER COMPANY: FORMER CONFORMED NAME: TRANS CENTRAL SECURITIES CORP DATE OF NAME CHANGE: 19700722 FORMER COMPANY: FORMER CONFORMED NAME: BUERGER LADET & RADINSKY INC DATE OF NAME CHANGE: 19671026 N-30B-2 1 e33082n_30b2.txt INTERIM REPORT TO STOCKHOLDERS ================================================================================ CENTRAL SECURITIES CORPORATION ---------- INTERIM REPORT TO STOCKHOLDERS AS OF SEPTEMBER 30, 2008 ================================================================================ To the Stockholders of CENTRAL SECURITIES CORPORATION: Financial data for the quarter ended September 30, 2008 prepared by management without audit by our independent registered public accounting firm and other pertinent information are submitted herewith. Comparative market values of net assets are as follows:
Sept. 30, 2008 June 30, 2008 Dec. 31, 2007 -------------- ------------- ------------- Net assets........................................ $574,601,495 $638,415,329 $644,822,724 Net assets per share of Common Stock.............. 27.08 29.86 30.15 Shares of Common Stock outstanding.......... 21,219,382 21,376,782 21,385,882
Comparative operating results are as follows:
Nine months ended September 30, ------------------------------- 2008 2007 ---- ---- Net investment income............................................... $ 5,421,102 $ 7,704,867 Per share of Common Stock..................................... .25* .38* Net realized gain on sale of investments............................ 43,796,489 37,419,803 Increase (decrease) in net unrealized appreciation of investments... (111,179,937) 13,242,876 Increase (decrease) in net assets resulting from operations......... (61,962,346) 58,367,546
- ---------- * Per-share data are based on the average number of Common shares outstanding during the nine-month period. In the quarter ended September 30, 2008 the Corporation repurchased 157,400 shares of its Common Stock at an average price of $23.84. The Corporation may from time to time purchase Common Stock in such amounts and at such prices as the Board of Directors may deem advisable in the best interests of stockholders. Purchases may be made on NYSE Alternext, the successor to the American Stock Exchange, or in transactions directly with stockholders. Stockholders' inquiries are welcome. Central Securities Corporation WILMOT H. KIDD, PRESIDENT 630 Fifth Avenue New York, NY 10111 October 15, 2008 [2] PRINCIPAL PORTFOLIO CHANGES July 1 to September 30, 2008 (Common Stock unless specified otherwise) (unaudited) Number of Shares -------------------------------------- Held September 30, Purchased Sold 2008 --------- ---- ------------- Abbott Laboratories..................... 10,000 100,000 American International Group, Inc....... 30,000 230,000 -- Analog Devices, Inc..................... 40,000 390,000 Brady Corporation....................... 5,600 870,000 Capital One Financial Corporation....... 90,000 250,000 Intel Corporation....................... 90,400 809,600 Maxim Integrated Products, Inc.......... 310,000 310,000 McMoRan Exploration Corporation......... 20,000 670,000 Murphy Oil Corporation.................. 36,700 363,300 Precision Castparts Corporation......... 8,900 100,000 Rohm and Haas Company................... 140,000(a) -- Roper Industries, Inc................... 50,000 300,000 RSC Holdings Inc........................ 70,000 70,000 Sonus Networks, Inc..................... 230,000 3,230,000 The TriZetto Group, Inc................. 240,000(a) -- White Mountains Insurance Group, Ltd.... 2,000 -- Xerox Corporation....................... 30,000 930,000 - ---------- (a) Merger. TEN LARGEST INVESTMENTS (unaudited)
September 30, 2008 ------------------ % of Year First Cost Value Net Assets Acquired ---- ----- ---------- -------- (millions) The Plymouth Rock Company, Inc............... $ 2.2 $140.0 24.4% 1982 Brady Corporation............................ 2.5 30.7 5.3 1984 Coherent, Inc................................ 23.6 30.2 5.3 2007 Agilent Technologies, Inc.................... 22.5 28.0 4.9 2005 The Bank of New York Mellon Corporation...... 15.5 26.9 4.7 1993 Convergys Corporation........................ 25.3 25.6 4.5 1998 Murphy Oil Corporation....................... 1.5 23.3 4.1 1974 Devon Energy Corporation..................... 14.9 18.2 3.2 2007 Roper Industries, Inc........................ 6.4 17.1 3.0 2003 Dover Corporation............................ 13.0 16.2 2.8 2003
[3] BOARD OF DIRECTORS Dudley D. Johnson, Chairman Simms C. Browning Donald G. Calder Jay R. Inglis Wilmot H. Kidd C. Carter Walker, Jr. OFFICERS Wilmot H. Kidd, President Charles N. Edgerton, Vice President and Treasurer William E. Sheeline, Vice President Marlene A. Krumholz, Secretary OFFICE 630 Fifth Avenue Suite 820 New York, NY 10111 212-698-2020 866-593-2507 (toll free) www.centralsecurities.com TRANSFER AGENT AND REGISTRAR Computershare Trust Company, N.A. P. O. Box 43069, Providence, RI 02940-3069 800-756-8200 www.computershare.com CUSTODIAN UMB Bank, N.A. Kansas City, MO INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM KPMG LLP, New York [4] -----END PRIVACY-ENHANCED MESSAGE-----