Canal Capital Corporation (Canal) is engaged in two businesses: real estate and stockyard operations. Canal's real estate properties are located in Sioux City, Iowa, South St Paul, Minnesota, St Joseph, Missouri and Omaha, Nebraska. The properties consist of land and structures leased to third parties, including rail car repair shops, lumber yards and various other commercial and retail businesses, as well as vacant land available for development or resale. Its principal real estate operating revenues are derived from lease income from land and structures leased to various commercial and retail enterprises, and proceeds from the sale of real estate properties. The Company’s principal stockyard revenues are derived from a per head charge (yardage charge) imposed on all livestock consigned for sale at the stockyards and the sale of feed and bedding.