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Consolidated Statements of Income and Retained Earnings (Unaudited) (USD $)
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Revenues:    
Leasing$ 998,000$ 839,000$ 2,867,000$ 2,329,000
Petroleum storage facility:    
Contractual969,000976,0002,881,0002,865,000
Reimbursement of tank repairs  495,000 
Total petroleum storage facility1,967,0001,815,0006,243,0005,194,000
Expenses:    
Leasing323,000255,000822,000819,000
Petroleum storage facility:    
Operating735,000663,0001,841,0001,794,000
Pipeline rupture355,000 355,000 
Tank repairs 210,00087,000210,000
General and administrative231,000214,000721,000706,000
Interest72,00091,000245,000155,000
Total petroleum storage facility1,716,0001,433,0004,071,0003,684,000
Income before income taxes251,000382,0002,172,0001,510,000
Income tax expense:    
Current112,00080,000868,000316,000
Deferred 35,00026,000137,000
Total income tax expense112,000115,000894,000453,000
Net income139,000267,0001,278,0001,057,000
Retained earnings, beginning2,246,0001,187,0001,503,0006,271,000
Dividends on common stock based upon 6,599,912 shares outstanding ($.03 per share for the three months ended September 30, 2011 and 2010; $.09 and $.92 per share for the nine months ended September, 2011 2011 and 2010, respectively(198,000)(198,000)(594,000)(6,072,000)
Retained earnings$ 2,187,000$ 1,256,000$ 2,187,000$ 1,256,000
Basic income per common share based upon 6,599,912 shares outstanding$ 0.02$ 0.04$ 0.19$ 0.16