-----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, BgrSE5HVHObhSJH5ugb7T2i4l6509W++SHVbX633QZ+/n0+mGQXcLkwVcoj++QHs TZBm2r57/32Tzv6y5qewGQ== 0000950168-97-003062.txt : 19971027 0000950168-97-003062.hdr.sgml : 19971027 ACCESSION NUMBER: 0000950168-97-003062 CONFORMED SUBMISSION TYPE: N-30B-2 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19970930 FILED AS OF DATE: 19971024 SROS: AMEX FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTRAL SECURITIES CORP CENTRAL INDEX KEY: 0000018748 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 131875970 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-30B-2 SEC ACT: SEC FILE NUMBER: 811-00179 FILM NUMBER: 97699989 BUSINESS ADDRESS: STREET 1: 375 PARK AVE CITY: NEW YORK STATE: NY ZIP: 10152 BUSINESS PHONE: 2126883011 MAIL ADDRESS: STREET 1: 375 PARK AVENUE CITY: NEW YORK STATE: NY ZIP: 10152 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 CENTRAL SECURITIES CORP. N-30 B-2 CENTRAL SECURITIES CORPORATION --------------- INTERIM REPORT TO STOCKHOLDERS AS OF SEPTEMBER 30, 1997 TO THE STOCKHOLDERS OF CENTRAL SECURITIES CORPORATION: Financial data for the quarter ended September 30, 1997 and other pertinent information prepared by management without audit by independent auditors are submitted herewith. Comparative market values of net assets are as follows:
Sept. 30, 1997 June 30, 1997 Dec. 31, 1996 -------------- ------------- ------------- Net assets.......................................... $ 458,740,471 $ 407,685,839 $ 356,685,785 Convertible Preference Stock at liquidation preference........................................ (9,041,000) (9,042,675) (9,102,050) -------------- ------------- ------------- Net assets applicable to Common Stock............... $ 449,699,471 $ 398,643,164 $ 347,583,735 -------------- ------------- ------------- -------------- ------------- ------------- Net asset coverage per share of Convertible Preference Stock.................................. $ 1,268.50 $ 1,127.12 $ 979.69 Net assets per share of Common Stock................ 33.16 29.39 25.64 Pro forma net assets per share, reflecting conversion of the Convertible Preference Stock............................................. 31.13 27.67 24.21 Shares of Convertible Preference Stock outstanding.................................. 361,640 361,707 364,082 Shares of Common Stock outstanding............. 13,562,925 13,562,710 13,555,021
Comparative figures of income are as follows:
Nine months ended September 30, ------------------------------- 1997 1996 ------------ ----------- Net investment income........................................... $ 3,543,806 $ 3,574,380 Number of times Preferred dividend earned.................. 6.5 6.3 Per share of Common Stock.................................. .22* .23* Net realized gain on sale of investments........................ 27,057,418 13,525,604 Increase in net unrealized appreciation of investments.......... 74,709,835 31,209,728 Increase in net assets resulting from operations................ 105,311,059 48,309,712
- ------------ * Per-share data are based on the average number of Common shares outstanding during the nine-month period and are after recognition of the dividend requirement on the Convertible Preference Stock. [ 2 ] PRINCIPAL PORTFOLIO CHANGES July 1 to September 30, 1997 (Common Stock unless specified otherwise)
Number of Shares ------------------------------------------- Held September 30, Purchased Sold 1997 --------- ------- ------------- American Management Systems, Inc......................... 437,500 900,000 The DII Group Incorporated............................... 250,000* 500,000 Electronic Data Systems Corporation...................... 100,000 300,000 Household International, Inc............................. 30,000 160,000 IXC Communications Corporation 7 1/4% Junior Conv. Pfd. Due 2007............................. 184** 10,365 Integon Corporation...................................... 100,000 -- Intel Corporation........................................ 270,000* 540,000 Nextel Communications, Inc. Class A...................... 20,000 420,000 Petroleum Geo-Services ASA ADR........................... 95,000 15,000 Provident Companies, Inc................................. 150,000* 300,000 Watkins-Johnson Company.................................. 10,000 275,900+
- ------------ * Stock split. ** Received as a dividend. + Includes shares listed under "Miscellaneous" in the Statement of Investments at June 30, 1997. --------------- In the quarter ended September 30, 1997 the Corporation did not repurchase any of its Common or Preference Stock. However, it may from time to time purchase Common or Preference Stock in such amounts and at such prices as the Board of Directors may deem advisable in the best interests of stockholders. Stockholders' inquiries are welcome. CENTRAL SECURITIES CORPORATION WILMOT H. KIDD, PRESIDENT 375 Park Avenue New York, NY 10152 October 24, 1997 [ 3 ] BOARD OF DIRECTORS DONALD G. CALDER DUDLEY D. JOHNSON President President G. L. Ohrstrom & Co., Inc. Young & Franklin Inc. New York, NY Liverpool, NY JAY R. INGLIS WILMOT H. KIDD Executive Vice President President Holt Corporation New York, NY C. CARTER WALKER, JR. Washington, CT GARDINER S. ROBINSON Director Emeritus OFFICERS WILMOT H. KIDD, President CHARLES N. EDGERTON, Vice President and Treasurer KAREN E. RILEY, Secretary OFFICE 375 Park Avenue, New York, NY 10152 212-688-3011 www.centralsecurities.com CUSTODIAN The Chase Manhattan Bank, N.A. 770 Broadway, New York, NY 10003 TRANSFER AGENT AND REGISTRAR First Chicago Trust Company of New York P. O. Box 2500, Jersey City, NJ 07303-2500 INDEPENDENT AUDITORS KPMG Peat Marwick LLP 345 Park Avenue, New York, NY 10154 [ 4 ] -----END PRIVACY-ENHANCED MESSAGE-----