Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2012	Dec. 31, 2011
Assets
Cash and cash equivalents	$ 77,722,736	$ 69,887,839
Receivables, less allowance for doubtful accounts of $138,687 in 2012 and $140,582 in 2011	46,545,205	59,210,733
Inventories	75,062,770	68,544,000
Insurance receivables - asbestos	18,000,000	18,000,000
Other current assets	13,366,182	12,888,528
Total current assets	230,696,893	228,531,100
Property, plant and equipment, net	150,913,500	150,239,845
Insurance receivables - asbestos	105,056,234	108,419,004
Investments in joint ventures	14,551,220	14,872,595
Deferred tax assets	23,549,151	23,637,546
Other noncurrent assets	6,196,798	5,932,335
Total Assets	530,963,796	531,632,425
Liabilities and Shareholders' Equity
Accounts payable	16,538,615	19,528,382
Accrued payrolls and employee benefits	10,184,094	10,982,902
Industrial Revenue Bond debt	13,311,000	13,311,000
Asbestos liability - current portion	25,000,000	25,000,000
Other current liabilities	23,217,411	20,337,409
Total current liabilities	88,251,120	89,159,693
Employee benefit obligations	76,158,681	75,257,001
Asbestos liability	168,075,762	172,872,255
Other noncurrent liabilities	1,580,683	1,471,863
Total liabilities	334,066,246	338,760,812
Commitments and contingent liabilities (Note 6)
Shareholders' equity:
Common stock - par value $1; authorized 20,000,000 shares; issued and outstanding 10,331,436 shares in 2012 and 10,325,602 shares in 2011	10,331,436	10,325,602
Additional paid-in capital	123,522,673	123,088,241
Retained earnings	138,888,110	138,747,964
Accumulated other comprehensive loss	(75,844,669)	(79,290,194)
Total shareholders' equity	196,897,550	192,871,613
Total Liabilities and Shareholders' Equity	$ 530,963,796	$ 531,632,425