CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (USD $)	Mar. 31, 2013		Mar. 31, 2012
Investments at market or fair value
Companies more than 25% owned (Cost: March 31, 2013 - $13,711, March 31, 2012 - $14,870)	$ 344,790,000		$ 283,575,000
Companies 5% to 25% owned (Cost: March 31, 2013 - $15,594, March 31, 2012 - $14,003)	157,394,000		209,222,000
Companies less than 5% owned (Cost: March 31, 2013 - $58,961, March 31, 2012 - $60,120)	72,003,000		65,749,000
Total investments (Cost: March 31, 2013 - $88,266, March 31, 2012 - $88,993)	574,186,572	[1],[2],[3]	558,546,332	[1],[2],[3]
Cash and cash equivalents	81,767,000		64,895,000
Receivables
Dividends and interest	2,465,000		1,741,000
Affiliates	291,000		220,000
Pension assets	8,762,000		7,349,000
Other assets	200,000		238,000
Total assets	667,672,000		632,989,000
Liabilities
Other liabilities	3,102,000		688,000
Pension liability	2,650,000		1,568,000
Deferred income taxes	2,143,000		2,027,000
Total liabilities	7,895,000		4,283,000
Net Assets
Common stock, $1 par value: authorized, 5,000,000 shares; issued, 4,394,194 shares at March 31, 2013 and 4,339,416 shares at March 31, 2012	4,394,000		4,339,000
Additional capital	183,668,000		177,841,000
Accumulated net investment income	(706,000)		412,000
Accumulated net realized gain	10,437,000		498,000
Unrealized appreciation of investments	485,921,000		469,553,000
Treasury stock - at cost on 584,878 shares	(23,937,000)		(23,937,000)
Total net assets	659,777,000		628,706,000
Total liabilities and net assets	$ 667,672,000		$ 632,989,000
Net asset value per share (on the 3,809,316 shares outstanding at March 31, 2013 and 3,754,538 shares outstanding at March 31, 2012) (in dollars per share)	$ 173.20		$ 167.45

[1] Debt Securities are generally valued on the basis of the price the security would command in order to provide a yield-to-maturity equivalent to the present yield of comparable debt instruments of similar quality. Issuers whose debt securities are judged to be of poor quality and doubtful collectability may instead be valued by assigning percentage discounts commensurate with the quality of such debt securities. Debt securities may also be valued based on the resulting value from the sale of the business at the estimated fair market value. Partnership Interests, Preferred Equity and Common Equity, including unrestricted marketable securities, are valued at the closing sale price for the NYSE listed securities and the lower of the closing bid price or the last sale price for NASDAQ securities on the valuation date. For those without a principal market, our Board of Directors considers the financial condition and operating results of the issuer; the long-term potential of the business of the issuer; the market for and recent sales prices of the issuer's securities; the values of similar securities issued by companies in similar businesses; and the proportion of the issuer's securities owned by the Company. Investments in certain entities that calculate net asset value per share (or its equivalent) and for which fair market value is not readily determinable are valued using the net asset value per share (or its equivalent, such as member units or ownership interest in partners' capital to which a proportionate share of net assets is attributed) of the investment. Equity Warrants are valued on the basis of the Black-Scholes model which defines the market value of a warrant in relation to the market price of its common stock, share price volatility, and time to maturity.

[2] Agreements between certain issuers and the Company provide that the issuer will bear substantially all costs in connection with the Company disposing such common stock, including those costs involved in registration under the Securities Act of 1933, but excluding underwriting discounts and commissions. These agreements cover common stock owned at March 31, 2013 and common stock which may be acquired thereafter through the exercise of warrants and conversion of debentures and preferred stock. They apply to restricted securities of all issuers in the investment portfolio of the Company except securities of the following issuers which are not obligated to bear registration costs: Humac Company and The Whitmore Manufacturing Company.

[3] The descriptions of the companies and ownership percentages shown in the Consolidated Schedule of Investments were obtained from published reports and other sources believed to be reliable. Acquisition dates indicated are the dates specific securities were acquired, which may differ from the original investment dates. Certain securities were received in exchange for or upon conversion or exercise of other securities previously acquired.