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Consolidated Statements of Shareholders' Equity - USD ($)
Total
Common Stock
Retained Earnings
Accumulated other comprehensive Income (Loss)
Treasury Stock
Balance, shares at Dec. 31, 2021   9,029,852     2,764,325
Balance, amount at Dec. 31, 2021 $ 114,602,264 $ 32,620,008 $ 129,422,625 $ (26,532,756) $ (20,907,613)
Net income 12,301,918   12,301,918    
Cash dividends declared, $0.44 per share (2,738,691)   (2,738,691)    
Currency translation adjustment (1,959,424)     (1,959,424)  
Change in fair value of interest rate swap 1,805,742     1,805,742  
Change in pension and other postretirement benefit costs, net of tax 3,273,800     3,273,800  
Stock Options Exercised, shares   1,370      
Stock Options Exercised, amount (58,515) $ (58,515)      
Treasury Stock Purchase, shares         (70,120)
Treasury Stock Purchase, amount (1,637,071)       $ (1,637,071)
Issuance of SARS 504,694 $ 504,694      
Issuance of Common Stock for directors' fees, shares   25,199      
Issuance of Common Stock for directors' fees, amount 519,978 $ 519,978      
Balance, shares at Dec. 31, 2022   9,056,421     2,834,445
Balance, amount at Dec. 31, 2022 126,614,695 $ 33,586,165 138,985,852 (23,412,638) $ (22,544,684)
Net income 8,585,002        
Balance, amount at Dec. 30, 2023 132,480,584        
Balance, shares at Dec. 31, 2022   9,056,421     2,834,445
Balance, amount at Dec. 31, 2022 126,614,695 $ 33,586,165 138,985,852 (23,412,638) $ (22,544,684)
Net income 8,585,002   8,585,002    
Currency translation adjustment 274,379     274,379  
Change in fair value of interest rate swap (1,449,754)     (1,449,754)  
Change in pension and other postretirement benefit costs, net of tax 1,593,037     1,593,037  
Stock Options Exercised, amount 0        
Treasury Stock Purchase, shares         (40,000)
Treasury Stock Purchase, amount (735,783)       $ (735,783)
Issuance of Common Stock for directors' fees, shares   28,219      
Issuance of Common Stock for directors' fees, amount 528,147 $ 528,147      
Cash dividends declared,$0.44 per share (2,765,686)   (2,765,686)    
Issuance of stock awards, net, shares   7,175      
Issuance of stock awards, net, amount (163,453) $ (163,453)      
Balance, shares at Dec. 31, 2023   9,091,815     2,874,445
Balance, amount at Dec. 31, 2023 $ 132,480,584 $ 33,950,859 $ 144,805,168 $ (22,994,976) $ (23,280,467)