Stock Options and Warrants (Tables)

12 Months Ended

Sep. 30, 2012

Equity [Abstract]

Schedule of Valuation Assumptions

	2010			2011
	Options @			Options @
	$11.33			$12.83
Expected dividend yield		3.16	%		2.71	%
Expected stock price volatility		36.23	%		35.63	%
Risk-free interest rate		4.00	%		.83	%
Expected life of options in years		1.00			3.25

Schedule of Award Activity

A summary of all stock option activity and information related to all options outstanding follows:

	2011
	Stock Options
					Weighted
	Number of		Weighted		Average
	Shares		Average		Remaining
	Remaining		Exercise		Contractual
	Options		Price		Term
Outstanding at October 1, 2010		90,000	$	10.42
Options granted		13,500	$	12.83		4.25 years
Options exercised during year ended September 30, 2011		23,500	$	10.00		.17 years
Options canceled during year ended September 30, 2011		—
Outstanding at September 30, 2011		80,000	$	10.95		1.51 years
Exercisable at September 30, 2011		66,500	$	10.57		.95 years

	2012
	Stock Options
					Weighted
	Number of		Weighted		Average
	Shares		Average		Remaining
	Remaining		Exercise		Contractual
	Options		Price		Term
Outstanding at October 1, 2011		80,000	$	10.95
Options granted		—
Options exercised during year ended September 30, 2012		35,000		10.00
Options expired during year ended September 30, 2012		3,000
Outstanding at September 30, 2012		42,000	$	11.81		1.72 years
Exercisable at September 30, 2012		42,000	$	11.81		1.72 years

Warrants

During the third quarter of 2007 we conducted a rights offering pursuant to a May 2006 order of the NYPSC that required us to conduct an equity offering and make various capital investments. The rights offering provided holders of our common stock with the right to purchase, at the price of $16.00, one "investment unit" for each share of common stock held. Each investment unit consisted of one share of common stock and one four-year warrant to purchase .7 shares of our common stock at a price of $19.00. The rights offering resulted in warrants being issued for 211,842 shares. On July 1, 2009, we amended the warrant agreement to reduce the exercise price of the warrants to $15.00 a share from July 6, 2009 to August 5, 2009. After August 5, 2009, the exercise price returned to $19.00 a share. During the month in which the exercise price was reduced, warrants to purchase 185,756 shares were exercised, comprising 87.7% of the outstanding warrants. We received $2,786,340 in connection with the warrant exercises in 2009 which was used to support our business plan. No warrants were exercised in 2010. During fiscal 2011, the remaining available warrants were adjusted for the stock dividend (see Note (k) – Dividends for more information) to 55,899. Of that amount, warrants to purchase 34,582 shares were exercised or 88.4% of the remaining warrants. The balance expired on August 17, 2011. We received $438,140 from warrant exercises in 2011 which we used to help fund capital projects.

	2011
	Warrants
					Weighted
			Weighted		Average
	Number of		Average		Remaining
	Remaining		Exercise		Contractual
	Warrants		Price		Term
Outstanding at October 1, 2010		55,899	$	12.67
Warrants granted		—
Warrants exercised during year ended September 30, 2011		49,403	$	12.67
Warrants canceled during year ended September 30, 2011		6,496	$	12.67
Outstanding at September 30, 2011		0