-----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, H6RuZGS5dj/+L6jwWMcxY6i7JdvTPkHJ1WL2orYqt/2Hq8vbQaM6LI7Es5M7tQyV b9wc+b6/4+qzYPkThkigIg== 0000891092-09-003943.txt : 20091020 0000891092-09-003943.hdr.sgml : 20091020 20091020161238 ACCESSION NUMBER: 0000891092-09-003943 CONFORMED SUBMISSION TYPE: N-30B-2 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20090930 FILED AS OF DATE: 20091020 DATE AS OF CHANGE: 20091020 EFFECTIVENESS DATE: 20091020 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: 091128082 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 e36703n30b2.txt INTERIM REPORT TO STOCKHOLDERS - -------------------------------------------------------------------------------- CENTRAL SECURITIES CORPORATION ---------- INTERIM REPORT TO STOCKHOLDERS AS OF SEPTEMBER 30, 2009 - -------------------------------------------------------------------------------- To the Stockholders of CENTRAL SECURITIES CORPORATION: Financial data for the quarter ended September 30, 2009 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, 2009 June 30, 2009 Dec. 31, 2008 -------------- ------------- ------------- Net assets........................................ $476,599,083 $429,428,422 $397,353,061 Net assets per share of Common Stock.............. 21.39 19.27 17.79 Shares of Common Stock outstanding.......... 22,276,713 22,282,413 22,331,813
Comparative operating results are as follows:
Nine months ended September 30, ------------------------------- 2009 2008 ---- ---- Net investment income............................................ $ 6,624,597 $ 5,421,102 Per share of Common Stock.................................. .30* .25* Net realized gain on sale of investments......................... 6,408,852 43,796,489 Increase (decrease) in net unrealized appreciation of investments ................................................ 69,124,343 (111,179,937) Increase (decrease) in net assets resulting from operations...... 82,157,792 (61,962,346)
- ---------- * Per-share data are based on the average number of Common shares outstanding during the nine-month period. In the quarter ended September 30, 2009 the Corporation repurchased 5,700 shares of its Common Stock at an average price of $16.04. 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 Amex, or in private transactions directly with stockholders. On another note, I wish to report that after serving for over twenty-five years, Dudley Johnson has stepped down from the Board in order to focus on his company and his foundation. Central has benefited greatly from Dudley's clear thinking, financial insight and business acumen. We will miss his thoughtful advice. He remains a valued friend. Stockholders' inquiries are welcome. CENTRAL SECURITIES CORPORATION WILMOT H. KIDD, President 630 Fifth Avenue New York, NY 10111 October 14, 2009 [2] PRINCIPAL PORTFOLIO CHANGES* July 1 to September 30, 2009 (Common Stock unless specified otherwise) (unaudited) Number of Shares --------------------------------------- Held September 30, Purchased Sold 2009 --------- ------- ------------- Abbott Laboratories................ 10,000 120,000 Brady Corporation.................. 100,000 770,000 Coherent, Inc...................... 1,000 831,000 Intel Corporation.................. 90,000 710,000 Murphy Oil Corporation............. 45,700 300,000 Nexen Inc.......................... 40,000 200,000 Walgreen Co........................ 30,000 230,000 Xerox Corporation.................. 30,000 960,000 - ---------- * Excludes "Miscellaneous -- Other Investments." TEN LARGEST INVESTMENTS (unaudited)
September 30, 2009 ------------------ % of Year First Cost Value Net Assets Acquired ---- ----- ---------- -------- (millions) The Plymouth Rock Company, Inc............... $ 2.2 $140.0 29.4% 1982 Agilent Technologies, Inc.................... 21.9 25.6 5.4 2005 Brady Corporation............................ 2.3 22.1 4.6 1984 The Bank of New York Mellon Corporation...... 12.2 19.6 4.1 1993 Coherent, Inc................................ 22.9 19.4 4.1 2007 Murphy Oil Corporation....................... 1.1 17.3 3.6 1974 Convergys Corporation........................ 24.8 16.9 3.5 1998 Dover Corporation............................ 13.0 15.5 3.3 2003 Intel Corporation............................ 0.3 13.9 2.9 1986 Devon Energy Corporation..................... 14.9 13.5 2.8 2007
[3] BOARD OF DIRECTORS Simms C. Browning, Chairman Donald G. Calder David C. Colander Jay R. Inglis Wilmot H. Kidd C. Carter Walker, Jr. OFFICERS Wilmot H. Kidd, President Charles N. Edgerton, Vice President and Treasurer 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-----