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Investments

9 Months Ended

Sep. 30, 2014

The cost and fair value of investments classified as available for sale are as follows:

September 30, 2014	Cost		Unrealized Gains		Unrealized Losses			Fair Value
Equities	$	1,023,998	$	82,968	$	(53,441	)	$	1,053,525
Mutual Funds		7,040		0		(633	)		6,407
Preferred Securities		416,415		24,959		(4,330	)		437,044
Corporate Bonds		1,673,591		2,397		(115,750	)		1,560,238
Total	$	3,121,044	$	110,324	$	(174,154	)	$	3,057,214

September 30, 2013	Cost		Unrealized Gains		Unrealized Losses			Fair Value
Equities	$	887,418	$	115,298	$	(29,256	)	$	973,460
Mutual Funds		69,849		0		(1,965	)		67,884
Preferred Securities		528,306		3,684		(26,363	)		505,627
Corporate Bonds		1,017,252		1		(57,761	)		959,492
Total	$	2,502,825	$	118,983	$	(115,345	)	$	2,506,463

December 31, 2013	Cost		Unrealized Gains		Unrealized Losses			Fair Value
Equities	$	1,006,169	$	98,213	$	(32,181	)	$	1,072,201
Mutual Funds		54,847		1,994		0			56,841
Preferred Securities		464,585		12,960		(15,449	)		462,096
Corporate Bonds		973,333		1,329		(49,420	)		925,242
Total	$	2,498,934	$	114,496	$	(97,050	)	$	2,516,380

Proceeds from the sale of investments were $317,584, $1,736,946 and $332,953, $2,281,792 for the three and nine months ended September 30, 2014 and 2013, respectively.

Gross gains of $2,988, $83,810 and $161,421 and gross losses of $25,928, $44,620 and $39,980 were realized on these sales during the three months ended September 30, 2014, nine months ended September 30, 2014 and 2013, respectively.

The following table shows the gross unrealized losses and fair value of the Company's investments with unrealized losses that are not deemed to be other-than-temporarily impaired, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at September 30, 2014 and 2013 and at December 31, 2013:

	Less Than 12 Months					12 Months or Greater					Total
September 30, 2014	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses

Equities	$	326,673	$	(40,115	)	$	83,996	$	(13,326	)	$	410,669	$	(53,441	)
Mutual Funds		6,407		(633	)		0		0			6,407		(633	)
Preferred Securities		175,790		(4,330	)		0		0			175,790		(4,330	)
Corporate Bonds		910,520		(65,250	)		522,316		(50,500	)		1,432,836		(115,750	)
	$	1,419,390	$	(110,328	)	$	606,312	$	(63,826	)	$	2,025,702	$	(174,154	)

	Less Than 12 Months					12 Months or Greater					Total
September 30, 2013	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses

Equities	$	292,456	$	(28,897	)	$	21,409	$	(359	)	$	313,865	$	(29,256	)
Mutual Funds		50,080		(1,965	)		0		0			50,080		(1,965	)
Preferred Securities		276,933		(26,363	)		0		0			276,933		(26,363	)
Corporate Bonds		868,294		(54,667	)		80,994		(3,094	)		949,288		(57,761	)
	$	1,487,763	$	(111,892	)	$	102,403	$	(3,453	)	$	1,590,166	$	(115,345	)

	Less Than 12 Months					12 Months or Greater					Total
December 31, 2013	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Equities	$	213,222	$	(32,181	)	$	0	$	0		$	213,222	$	(32,181	)
Mutual Funds		0		0			0		0			0		0
Preferred Securities		224,125		(15,449	)		0		0			224,125		(15,449	)
Corporate Bonds		615,986		(42,827	)		96,726		(6,593	)		712,712		(49,420	)
	$	1,053,333	$	(90,457	)	$	96,726	$	(6,593	)	$	1,150,059	$	(97,050	)

Equities, Mutual Funds, Preferred Securities, and Corporate Bonds - The Company's investments in equity securities, mutual funds, preferred securities, and corporate bonds consist of investments in common stock, preferred stock and debt securities of companies in various industries. As of September 30, 2014, there were three corporate bond securities that had unrealized losses greater than twelve months. The Company evaluated the near-term prospects of the issuer in relation to the severity and duration of the impairment. Based on that evaluation and the Company's ability and intent to hold these investments for a reasonable period of time sufficient for a forecasted recovery of fair value, the Company did not consider any material investments to be other-than-temporarily impaired at September 30, 2014.