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Yearend Amount
1991 $5,621,829
1992 5,688,948
1993 11,924,102
1994 10,658,199
1995 9,363,012
1996 11,999,759
For its taxable years 1991 through 1996, Central declared
distributions to its shareholders as follows:
Year Amount
1991 -0-
1992 $1,000,000
1993 7,000,000
1994 7,540,000
1995 8,333,838
1996 6,449,974
Total 30,323,812
Both Central and Colonial had a long history of operating
debt free, in accordance with Mr. Honbarrier’s conservative
business policy of avoiding debt. Central never incurred either
long-term or short-term debt.
Central pursued a 5-year capital expansion program for
updating equipment. From 1993 through 1996, Central made
expenditures on property and equipment as follows:
Year Expenditure
1993 $8,481,534
1994 5,764,211
1995 6,600,730
1996 4,806,384
Total 25,652,859
The majority of these expenditures were for power units (i.e.,
tractors) and stainless steel tankers. These expenditures were
made on a debt-free basis from Central’s available funds.
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Last modified: May 25, 2011