Central Securities Corporation
630 Fifth Avenue
New York, N.Y. 10111
(212) 698-2020
December 27, 2017
Re: File No. 811-179
Securities and Exchange Commission
100 F Street N.E.
Washington, D.C. 20549
Attention: Division of Investment Management
Dear Sirs:
We are filing herewith under Section 17(g) of the Investment Company Act of 1940, the following items with respect to the Investment Company bond covering Central Securities Corporation (the "Corporation") for the period April 1, 2017 through April 1, 2018:
| 1. | A certified copy of resolutions adopted by a majority of the members of the Board of Directors of the Corporation who are not interested persons at a meeting of the Board held on October 18, 2017, increasing the amount of the bond to $1,000,000 and extending the expiration of the bond to November 1, 2018; and |
| 2. | A copy of Bond No. 12043117B in the amount of $1,000,000 effective October 1, 2017, which was received by the Corporation on or about December 27, 2017; and |
The premium for this bond was paid on or about
October 27, 2017.
| Very truly yours, | ||
| CENTRAL SECURITIES CORPORATION | ||
| /s/ Marlene A. Krumholz | ||
| Enc. | Secretary |
I, Marlene A. Krumholz, hereby certify that I am the Secretary of Central Securities Corporation, and that the following is a true and correct copy of resolutions duly adopted by a majority of the directors who are not "interested persons," at a meeting of the Board of Directors of said Corporation duly called and held on the 18th day of October 2017, at which a quorum was present and acting throughout. I further certify that said resolutions continue in full force and effect:
RESOLVED, that the Registered Management Investment Company Bond No. 12043117B of ICI Mutual Insurance Company (the “Fidelity Bond”), being a single insured bond in the amount of $1,000,000, effective October 1, 2017, is, in our judgment, adequate coverage for the protection of the Corporation and its stockholders. In approving such coverage, Messrs. Blackford, Browning, Calder, Colander, Inglis and Walker have considered all relevant factors including (1) the value of the Corporation's assets to which any covered person may have access; (2) the custody arrangements for such assets; (3) the nature of the Corporation's portfolio securities; and (4) the amount of premium for such bond; and
FURTHER RESOLVED, that the officers of the Corporation are authorized to continue through November 1, 2018, the Fidelity Bond issued by the ICI Mutual Insurance Company, in the amount of $1,000,000; and
FURTHER RESOLVED, that the Secretary shall make any filings and give any notices required by the Securities and Exchange Commission Rule 17g-1 under the Investment Company Act.
/s/Marlene A. Krumholz
Marlene A. Krumholz
Secretary
New York, New York
December 27, 2017
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 5
| INSURED | BOND NUMBER | |
| Central Securities Corporation | 12043117B | |
| EFFECTIVE DATE | BOND PERIOD | AUTHORIZED REPRESENTATIVE |
| October 1, 2017 | April 1, 2017 to April 1, 2018 | /S/ Swenitha Nalli |
In consideration of the premium charged for this Bond, it is hereby understood and agreed that the Limit of Liability for the following Insuring Agreements is hereby amended, effective October 1, 2017, to be:
| Limit of Liability | ||
| Insuring Agreement A- | FIDELITY | $1,000,000 |
| Insuring Agreement C- | ON PREMISES | $1,000,000 |
| Insuring Agreement D- | IN TRANSIT | $1,000,000 |
| Insuring Agreement E- | FORGERY OR ALTERATION | $1,000,000 |
| Insuring Agreement F- | SECURITIES | $1,000,000 |
| Insuring Agreement G- | COUNTERFEIT CURRENCY | $1,000,000 |
| Insuring Agreement J- | COMPUTER SECURITY | $1,000,000 |
Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.
RN0004.0-02 (10/08) sp
ICI MUTUAL INSURANCE COMPANY,
a Risk Retention Group
INVESTMENT COMPANY BLANKET BOND
RIDER NO. 6
| INSURED | BOND NUMBER | |
| Central Securities Corporation | 12043117B | |
| EFFECTIVE DATE | BOND PERIOD | AUTHORIZED REPRESENTATIVE |
| April 1, 2018 | April 1, 2017 to November 1, 2018 | /S/ Swenitha Nalli |
In consideration of the premium charged for this Bond, it is hereby understood and agreed that the expiration date of the Bond Period set forth in Item 2 of the Declarations is hereby amended to be
12:01 a.m. on November 1, 2018
Standard Time at the Principal Address as set forth in Item 1 of the Declarations.
Except as above stated, nothing herein shall be held to alter, waive or extend any of the terms of this Bond.
RN0009.0-01 (10/08)