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<SEC-DOCUMENT>0000891092-08-002263.txt : 20080428
<SEC-HEADER>0000891092-08-002263.hdr.sgml : 20080428
<ACCEPTANCE-DATETIME>20080428155555
ACCESSION NUMBER:		0000891092-08-002263
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20080331
FILED AS OF DATE:		20080428
DATE AS OF CHANGE:		20080428
EFFECTIVENESS DATE:		20080428

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CENTRAL SECURITIES CORP
		CENTRAL INDEX KEY:			0000018748
		IRS NUMBER:				131875970
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-00179
		FILM NUMBER:		08781136

	BUSINESS ADDRESS:	
		STREET 1:		630 FIFTH AVENUE
		STREET 2:		SUITE 820
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10111
		BUSINESS PHONE:		212-698-2020

	MAIL ADDRESS:	
		STREET 1:		630 FIFTH AVENUE
		STREET 2:		SUITE 820
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10111

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TRANS CENTRAL SECURITIES CORP
		DATE OF NAME CHANGE:	19700722

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BUERGER LADET & RADINSKY INC
		DATE OF NAME CHANGE:	19671026
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>e31373nq.txt
<DESCRIPTION>QUARTERLY REPORT
<TEXT>
                                  United States
                       Securities and Exchange Commission
                              Washington, DC 20549

                                    FORM N-Q

                   QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF
                    REGISTERED MANAGEMENT INVESTMENT COMPANY

                  Investment Company Act file number 811-00179

                         Central Securities Corporation
               (Exact name of registrant as specified in charter)
                           630 Fifth Avenue, Suite 820
                              New York, N.Y. 10111
                    (Address of principal executive offices)

Registrant's telephone number including area code: 212-698-2020

Date of fiscal year end:  December 31
Date of reporting period: March 31, 2008

Item 1. Schedule of Investments.

<PAGE>

                         CENTRAL SECURITIES CORPORATION
                            Statement of Investments
                                 March 31, 2008
                                   (Unaudited)

                           PORTFOLIO SECURITIES 94.0%
                   STOCKS (COMMON UNLESS SPECIFIED OTHERWISE)

Prin. Amt.
or Shares                                                              Value
- ----------                                                          ------------
            Banking and Finance 8.4%
   825,475    The Bank of New York Mellon Corporation.............. $ 34,447,072
   340,000    Capital One Financial Corporation....................   16,734,800
                                                                    ------------
                                                                      51,181,872
                                                                    ------------
            Business Services 0.2%
    75,000    Heritage-Crystal Clean Inc. (a)......................    1,173,750
                                                                    ------------
            Chemicals 1.3%
   150,000    Rohm and Haas Company................................    8,112,000
                                                                    ------------
            Communications 0.7%
 1,005,000    Arbinet-thexchange, Inc. (a).........................    4,200,900
                                                                    ------------
            Electronics 18.5%
   942,400    Agilent Technologies, Inc. (a).......................   28,111,792
   430,000    Analog Devices, Inc..................................   12,693,600
   850,000    Coherent, Inc. (a)...................................   23,706,500
   630,000    Flextronics International Inc. (a)...................    5,915,700
   900,000    Intel Corporation....................................   19,062,000
   350,000    Motorola, Inc........................................    3,255,000
 1,000,000    Radisys Corporation (a)..............................   10,090,000
 3,000,000    Sonus Networks, Inc. (a).............................   10,320,000
                                                                    ------------
                                                                     113,154,592
                                                                    ------------
            Energy 17.2 %
   375,000    Berry Petroleum Company Class A......................   17,433,750
   200,000    Devon Energy Corporation.............................   20,866,000
 1,900,000    GeoMet, Inc. (a).....................................   12,654,000
   650,000    McMoRan Exploration Co. (a)..........................   11,238,500
   410,000    Murphy Oil Corporation...............................   33,677,400
   320,000    Nexen Inc............................................    9,475,200
                                                                    ------------
                                                                     105,344,850
                                                                    ------------
            Health Care 1.1%
   110,000    Abbott Laboratories..................................    6,066,500
   170,000    Vical Inc. (a).......................................      598,400
                                                                    ------------
                                                                       6,664,900
                                                                    ------------
            Information Technology Services 8.8%
 1,730,800    Convergys Corporation................................   26,065,848
   970,000    The TriZetto Group, Inc. (a).........................   16,189,200
   700,000    Xerox Corporation....................................   10,479,000
                                                                    ------------
                                                                      52,734,148
                                                                    ------------
<PAGE>

Prin. Amt.
 or Shares                                                              Value
- ----------                                                          ------------
             Insurance 23.8%
   100,000     American International Group, Inc...................   $4,325,000
    10,000     Erie Indemnity Co. Class A..........................      511,900
    70,000     The Plymouth Rock Company, Inc.
                   Class A (b)(c)(d)...............................  140,000,000
     2,000     White Mountains Insurance Group.....................      960,000
                                                                    ------------
                                                                     145,796,900
                                                                    ------------
             Manufacturing 12.9%
   875,600     Brady Corporation Class A...........................   29,271,308
   150,000     Carlisle Companies Inc..............................    5,016,000
   400,000     Dover Corporation...................................   16,712,000
    69,000     Precision Castparts Corporation.....................    7,043,520
   350,000     Roper Industries, Inc...............................   20,804,000
                                                                    ------------
                                                                      78,846,828
                                                                    ------------
             Retailing 1.4%
    28,751     AeroGroup International, Inc. (a)(c)(d).............      690,024
   200,000     Walgreen Co.........................................    7,618,000
                                                                    ------------
                                                                       8,308,024
                                                                    ------------
                Total Portfolio Securities
                   (cost $266,078,613).............................  575,518,764

             SHORT-TERM INVESTMENTS 6.0%
             Commercial Paper 2.7%
 2,084,000   American Express Credit Corp. 2.81% due 4/9/08........    2,082,703
14,734,000   General Electric Capital Corp. 2.17% - 2.81%
                due 4/9/08 - 5/7/08................................   14,707,959
                                                                    ------------
                                                                      16,790,662
                                                                    ------------
             U.S. Treasury Bills 3.3%
20,048,000   U.S. Treasury Bills 1.0488% - 3.0733%
                due 4/3/08 - 5/22/08...............................   19,994,656
                                                                    ------------

                Total Short-Term Investments
                  (cost $36,785,318)...............................   36,785,318
                                                                    ------------

                Total Investments (cost $302,863,931) (96.4%)......  612,304,082
                  (cost $242,296,470)(100.0%)   361,797,954
                Cash, receivables and other assets
                  less liabilities (3.6%)..........................      134,303
                                                                    ------------
                Net Assets (100%).................................. $612,438,385
                                                                    ============

(a)   Non-dividend paying.

(b)   Affiliate as defined in the Investment Company Act of 1940.

(c)   Valued at estimated fair value.

(d)   Restricted security. See footnote 2.

               See accompanying notes to statement of investments.

<PAGE>

                         CENTRAL SECURITIES CORPORATION
                        NOTES TO STATEMENT OF INVESTMENTS

1. Security Valuation - Securities are valued at the last sale price or, if
unavailable, at the closing bid price. Corporate discount notes are valued at
amortized cost, which approximates value. Securities for which no ready market
exists are valued at estimated fair value by the Board of Directors.

As of March 31, 2008, the tax cost of investments was $302,863,931. Net
unrealized appreciation was $309,440,151 consisting of gross unrealized
appreciation and gross unrealized depreciation of $323,084,866 and $13,644,715,
respectively.

2. Restricted Securities - The Corporation has from time to time invested in
securities the resale of which is restricted. On March 31, 2008, such
investments had an aggregate value of $140,690,024, which was equal to 23.0% of
the Corporation's net assets. Investments in restricted securities at March 31,
2008 were:

<TABLE>
<CAPTION>
Company                              Shares               Security               Date Purchased    Cost
- -------                              ------               --------               --------------    ----
<S>                                   <C>            <C>                             <C>         <C>
AeroGroup International, Inc.         28,751         Common Stock                     6/14/05      $17,200
The Plymouth Rock Company, Inc.       60,000         Class A Common Stock            12/15/82    1,500,000
The Plymouth Rock Company, Inc.       10,000         Class A Common Stock              6/9/84      699,986
</TABLE>

The Corporation does not have the right to demand registration of the restricted
securities.

Item 2. Controls and Procedures.

(a) Disclosure Controls and Procedures. The Principal Executive and Financial
Officers have concluded that the Registrant's Disclosure Controls and Procedures
are effective based on their evaluation of the Disclosure Controls and
Procedures as of a date within 90 days of the filing date of this report.

(b) Internal Control Over Financial Reporting. During the last fiscal quarter,
there was no significant change in the Registrant's internal control over
financial reporting that has materially affected, or is reasonably likely to
materially affect, the registrant's internal control over financial reporting.

Item 3. Exhibits.

(a) Certifications.

<PAGE>

Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.

CENTRAL SECURITIES CORPORATION

By:     /s/ Wilmot H. Kidd
   -----------------------------
             President

Date: April 25, 2008

Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.

By:     /s/ Wilmot H. Kidd
   -----------------------------
            President

Date: April 25, 2008

By:   /s/ Charles N. Edgerton
   -----------------------------
   Vice President and Treasurer

Date: April 25, 2008
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>e31373ex99_1.txt
<DESCRIPTION>CERTIFICATION
<TEXT>
                                                                    Exhibit 99.1

I Wilmot H. Kidd, certify that:

1. I have reviewed this report on Form N-Q of Central Securities Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a
material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report
fairly present in all material respects the investments of the registrant as of
the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer(s) and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and
have:

         (a) Designed such disclosure controls and procedures, or caused such
         disclosure controls and procedures to be designed under our
         supervision, to ensure that material information relating to the
         registrant, including its consolidated subsidiaries, is made known to
         us by others within those entities, particularly during the period in
         which this report is being prepared;

         (b) Designed such internal control over financial reporting, or caused
         such internal control over financial reporting to be designed under our
         supervision, to provide reasonable assurance regarding the reliability
         of financial reporting and the preparation of financial statements for
         external purposes in accordance with generally accepted accounting
         principles;

         (c) Evaluated the effectiveness of the registrant's disclosure controls
         and procedures and presented in this report our conclusions about the
         effectiveness of the disclosure controls and procedures, as of a date
         within 90 days prior to the filing date of this report, based on such
         evaluation; and

         (d) Disclosed in this report any change in the registrant's internal
         control over financial reporting that occurred during the registrant's
         most recent fiscal quarter that has materially affected, or is
         reasonably likely to materially affect, the registrant's internal
         control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the
registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing equivalent functions):

         (a) All significant deficiencies and material weaknesses in the design
         or operation of internal control over financial reporting which are
         reasonably likely to adversely affect the registrant's ability to
         record, process, summarize, and report financial information; and

         (b) Any fraud, whether or not material, that involves management or
         other employees who have a significant role in the registrant's
         internal control over financial reporting.

4/10/08                             Wilmot H. Kidd
- -------                             --------------
Date                                Signature

                                    President
                                    ---------
                                    Title
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>e31373ex99_2.txt
<DESCRIPTION>CERTIFICATION
<TEXT>
                                                                    Exhibit 99.2

I Charles N. Edgerton, certify that:

1. I have reviewed this report on Form N-Q of Central Securities Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a
material fact or omit to state a material fact necessary to make the statements
made, in light of the circumstances under which such statements were made, not
misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report
fairly present in all material respects the investments of the registrant as of
the end of the fiscal quarter for which the report is filed;

4. The registrant's other certifying officer(s) and I are responsible for
establishing and maintaining disclosure controls and procedures (as defined in
Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and
have:

         (a) Designed such disclosure controls and procedures, or caused such
         disclosure controls and procedures to be designed under our
         supervision, to ensure that material information relating to the
         registrant, including its consolidated subsidiaries, is made known to
         us by others within those entities, particularly during the period in
         which this report is being prepared;

         (b) Designed such internal control over financial reporting, or caused
         such internal control over financial reporting to be designed under our
         supervision, to provide reasonable assurance regarding the reliability
         of financial reporting and the preparation of financial statements for
         external purposes in accordance with generally accepted accounting
         principles;

         (c) Evaluated the effectiveness of the registrant's disclosure controls
         and procedures and presented in this report our conclusions about the
         effectiveness of the disclosure controls and procedures, as of a date
         within 90 days prior to the filing date of this report, based on such
         evaluation; and

         (d) Disclosed in this report any change in the registrant's internal
         control over financial reporting that occurred during the registrant's
         most recent fiscal quarter that has materially affected, or is
         reasonably likely to materially affect, the registrant's internal
         control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the
registrant's auditors and the audit committee of the registrant's board of
directors (or persons performing equivalent functions):

         (a) All significant deficiencies and material weaknesses in the design
         or operation of internal control over financial reporting which are
         reasonably likely to adversely affect the registrant's ability to
         record, process, summarize, and report financial information; and

         (b) Any fraud, whether or not material, that involves management or
         other employees who have a significant role in the registrant's
         internal control over financial reporting.

4/10/08                               Charles N./ Edgerton
- -------                               --------------------
Date                                  Signature

                                      VP and Treasurer
                                      ----------------
                                      Title
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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