**UNITED STATES****SECURITIES AND EXCHANGE COMMISSIONWashington, D.C.  20549**

**FORM 10-Q**

(MarkOne) [**X**]    Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Actof 1934.             For the quarterly period ended**September 30,2007,** or

[   ]      Transition report pursuant to Section 13 or 15(d) of the SecuritiesExchange Act of 1934.             For the transition period from                                              to                                                               .Commission file number:  **0-2757**                                                                                        

| **THE MONARCH CEMENT COMPANY**(Exact name of registrant as specified in its charter)                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| **KANSAS**(state or other jurisdiction of incorporation or      organization)  
** 48-0340590**(IRS employer identification no.)              
**P.O. BOX 1000, HUMBOLDT, KANSAS**(address of principal executive offices)
**66748-0900**(zip code)
 Registrant's telephone number, including area code: **(620) 473-2222**

                                                                                                                  (former name, former address and former fiscalyear, if changed since last report) 

Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for suchshorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90 days.  YES  **X**     NO       

Indicateby check mark whether the registrant is a large accelerated filer, anaccelerated filer, or a non-accelerated filer. See definition of acceleratedfiler and large accelerated filer in Rule 12b-2 of the Exchange Act. (Checkone):  Large accelerated filer          Accelerated filer   X     Non-accelerated filer        

Indicateby check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). YES          NO   X  

As of **November 1, 2007**, there were 2,507,222 shares of Capital Stock, par value $2.50per share outstanding and 1,519,736 shares of Class B Capital Stock, par value$2.50 per share outstanding. 

PART I  -  FINANCIAL INFORMATION

Item 1.       Financial Statements

The condensed consolidated financial statementsincluded in this report have been prepared by our Company without audit. Certaininformation and footnote disclosures normally included in financial statementsprepared in accordance with generally accepted accounting principles have beencondensed or omitted.  Our Company believes that the disclosures are adequate tomake the information presented not misleading.  The accompanying consolidatedfinancial statements reflect all adjustments that are, in the opinion ofmanagement, necessary for a fair statement of the results of operations for theinterim periods presented.  Those adjustments consist only of normal, recurringadjustments.  The condensed consolidated balance sheet of the Company as ofDecember 31, 2006 has been derived from the audited consolidated balance sheetof the Company as of that date.  These condensed consolidated financialstatements should be read in conjunction with the consolidated financialstatements and notes thereto included in our Company's most recent annual reporton Form 10‐K for 2006 filed with the Securities and Exchange Commission.  Theresults of operations for the period are not necessarily indicative of theresults to be expected for the full year.

 

 
THE MONARCH CEMENT COMPANY AND SUBSIDIARIESCONSOLIDATED BALANCE SHEETSSeptember 30, 2007 and December 31, 2006 ASSETS2 0 0 7     2 0 0 6     CURRENT ASSETS:(Unaudited)      Cash and cash equivalents       $    2,225,220 $        2,410,623    Receivables, less allowances of $652,000 in 2007 and       $641,000 in 2006 for doubtful accounts           19,411,857 14,795,481    Inventories, priced at cost which is not in excess of      market-          Finished cement $    6,256,450 $        3,988,211          Work in process       2,515,150      2,753,095          Building products       4,467,706      3,693,636          Fuel, gypsum, paper sacks and other      3,980,696      3,465,194          Operating and maintenance supplies      9,787,328      8,677,942   Total inventories        $  27,007,330 $   22,578,078    Refundable federal and state income taxes-        739,574    Deferred income taxes              670,000      670,000    Prepaid expenses              624,796      284,599  Total current assets       $  49,939,203  **$   41,478,355**PROPERTY, PLANT AND EQUIPMENT, at cost, less      accumulated depreciation and depletion of $138,128,764    in 2007 and $131,120,295 in 2006           92,914,596 95,112,389 DEFERRED INCOME TAXES       10,609,442       9,692,000 INVESTMENTS      14,589,077  15,275,669 OTHER ASSETS       1,301,597       945,429           $169,353,915 **$ 162,503,842**LIABILITIES AND STOCKHOLDERS' INVESTMENT CURRENT LIABILITIES:   Accounts payable $  8,006,236 $        5,579,416    Line of credit payable      3,855,228 6,397,667    Current portion of advancing term loan      2,140,498 2,027,377    Accrued liabilities      5,876,821 6,102,002       Total current liabilities $  19,878,783         $  20,106,462LONG-TERM DEBT     18,701,119      20,055,010 ACCRUED POSTRETIREMENT BENEFITS      26,584,838      25,322,665 ACCRUED PENSION EXPENSE       3,911,696        4,040,213      MINORITY INTEREST IN CONSOLIDATED SUBSIDIARIES      708,864        1,023,116      STOCKHOLDERS' INVESTMENT:            Capital stock, par value $2.50 per share, one vote per share -      Authorized 10,000,000 shares, Issued      2,505,972 shares      at 9/30/2007 and 2,488,285 shares at 12/31/2006 $    6,264,930  $    6,220,713   Class B capital stock, par value $2.50 per share, supervoting      rights of ten votes per share, restricted      transferability,       convertible at all times into Capital Stock on a      share-for-      share basis - Authorized 10,000,000      shares, Issued 1,520,986      shares at 9/30/2007 and 1,538,673 shares at      12/31/2006      3,802,465       3,846,682          Retained earnings     95,783,182      86,797,943     Accumulated other comprehensive loss            (6,281,962)      (4,908,962) Total stockholders' investment $   99,568,615    $  91,956,376           $ 169,353,915    $ 162,503,842  See notes to condensed consolidated      financial statements
 
THE MONARCH CEMENT COMPANY AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF INCOME AND RETAINED EARNINGSFor the Three Months and Nine Months Ended September 30, 2007 and 2006 (Unaudited)       
For the Three Months Ended
For the Nine Months EndedSept. 30, 2007   Sept. 30, 2006   Sept. 30, 2007   Sept. 30, 2006NET SALES  $44,404,159   $44,200,862  $108,707,478 $118,982,988 COST OF SALES   32,797,073            33,454,729  
            84,032,598        
            91,823,324        Gross profit from      operations $  11,607,086         $  10,746,133 
 $24,674,880        
 $27,159,664 SELLING, GENERAL AND   ADMINISTRATIVE EXPENSES     3,628,773             3,706,587 11,020,204        10,559,245        Income from operations $   7,978,313         $   7,039,546 
 $  13,654,676        
 $  16,600,419 OTHER INCOME (EXPENSE):  Interest income $       57,401  $      82,705 $     193,454 $     263,815   Interest expense(455,529)(582,909)
      (1,479,791)
      (1,341,400)        Gains on equity investments 297,012          -               
2,410,698         
-               Other, net         57,218                 320,144 828,064        735,210         $      (43,898)        $      (180,060)$    1,952,425         $    (342,375)         Income      before taxes on income $    7,934,415         $    6,859,486 
 $       15,607,101         
 $       16,258,044  PROVISION FOR INCOME TAXES              2,450,000                     2,000,000 4,850,000        4,900,000 NET INCOME $    5,484,415         $    4,859,486  $  10,757,101         $  11,358,044 RETAINED EARNINGS, beg. of period    91,184,698    82,618,260 
   86,797,943 
   76,965,363       Less cash dividends885,931        845,661 
             1,771,862        
             1,691,322 RETAINED EARNINGS, end of period $  95,783,182         $  86,632,085  $95,783,182        $86,632,085 Basic earnings per share $                 1.36         $                 1.21  $                2.67          $                2.82   Cash dividends per share $                 0.22         $            0.21  $                0.44          $                0.42                   CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOMEFor the Three Months and Nine Months Ended Sept 30, 2007 and      2006 (Unaudited)
For the Three Months Ended
For the Nine Months EndedSept. 30, 2007Sept. 30, 2006Sept. 30, 2007Sept. 30, 2006NET INCOME $  5,484,415 $  4,859,486    $   10,757,101 $   11,358,044UNREALIZED APPRECIATION (DEPRECIATION)     ON AVAILABLE FOR SALE SECURITIES (Net           of deferred tax expense (benefit) of ($804,000), ($836,000),     $48,000 and ($644,000), respectively)    (1,206,000)(1,254,000)  72,000 (966,000)LESS:  RECLASSIFICATION ADJUSTMENT FOR    REALIZED GAINS INCLUDED      IN   NET INCOME(net of deferred tax expense   of $120,000, $-0-,$964,000 and $-0-, respectively)    180,000          -        1,446,000        -       COMPREHENSIVE INCOME$  4,098,415$  3,605,486    $   9,383,101 $  10,392,044 See notes to condensed consolidated financial statements
 
THE MONARCH CEMENT COMPANY AND SUBSIDIARIESCONSOLIDATED STATEMENTS OF CASH FLOWSFor the Nine Months Ended September 30, 2007 and      2006 (Unaudited) 2007      2006     OPERATING ACTIVITIES:  Net income $   10,757,101    $           11,358,044    Adjustments to reconcile net income to    net cash provided by operating activities:      Depreciation, depletion and amortization      8,791,339        7,966,688        Minority interest in earnings (losses)      of subsidiaries               (124,511)             13,756        Deferred income taxes                     (442)                  788        Gain on disposal of assets        (468,784)               (133,286)      Realized gain on sale of      equity      investments                        (2,410,698)      -              Change in assets and liabilities:          Receivables, net        (4,616,376)     (6,177,895)          Inventories     (4,429,252)     (5,403,968)          Refundable income taxes                        739,574                -                  Prepaid expenses             (340,197)                (460,711)          Other assets                  15,992                    14,759            Accounts payable and accrued      liabilities      3,256,719        2,302,811            Accrued postretirement benefits             1,262,173                1,101,387            Accrued pension expense                (128,517)              199,881          Net cash      provided by operating activities $    12,304,121    $  10,782,254   INVESTING ACTIVITIES:     Acquisition of property, plant and equipment $  (5,955,849)  $  (18,628,477)  Proceeds from disposals of property, plant      and equipment              528,134                242,353    Payment for purchases of equity investments               (2,641,074)                        (734,194)  Proceeds from sale of equity      investments                        3,448,365        39,204    Decrease in short-term investments, net      -                        1,500,000    Purchases of subsidiaries' stock             (189,741)          (192,914)        Net cash      used for investing activities $  (4,810,165)  $  (17,774,028) FINANCING ACTIVITIES:    Increase (decrease) in line of credit, net $    (2,542,439)  $   9,754,659    Payments on bank loans(1,509,387)              (1,344,913)  Payments on other long-term debt               (164,349)              (154,956)  Cash dividends paid(3,463,184) (3,302,105)  Subsidiaries' dividends paid to      minority interest-                    (25,733)        Net cash provided by      (used for) financing      activities $  (7,679,359)  $   4,926,952   Net decrease in cash and cash equivalents$      (185,403)  $ (2,064,822)Cash and Cash Equivalents, beginning of year      2,410,623         4,895,561  Cash and Cash Equivalents, end of period $    2,225,220    $   2,830,739   Interest paid, net of amount capitalized$    1,496,680   $          1,353,488Income taxes paid, net of refunds$    2,991,280   $          4,819,535Capital equipment additions included in      accounts payable$            707,736   $       564,579See notes to condensed consolidated financial      statements
 
THE MONARCH CEMENT COMPANY AND SUBSIDIARIESNOTES TO THE CONDENSEDCONSOLIDATED FINANCIAL STATEMENTS
September 30, 2007 and 2006 (Unaudited), and December 31, 2006
  -  For a summary of accounting policies, the readershould refer to Note 1 of the consolidated financial statements included in ourCompany's most recent annual report on Form 10‐K. 
-  Basic earnings per share of capital stock has beencalculated based on the weighted average shares outstanding during each of thereporting periods.  The weighted average number of shares outstanding was4,026,958 in the third quarter of 2007 and 2006 and in the first nine months of2007 and 2006.  The Company has no commonstock equivalents and therefore, does not report diluted earnings per share. 
-  Our Company groups itsoperations into two lines of business - Cement Business and Ready-Mixed ConcreteBusiness.  The "Cement  Business" refers to our manufacture and sale of cementand "Ready-Mixed Concrete Business" refers to our ready-mixed concrete, concreteproducts and sundry building materials business.  Following is condensedinformation for each line for the periods indicated (in thousands):  
Three Months Ended
Nine Months Ended  9/30/07  9/30/06   9/30/07  9/30/06   Sales toUnaffiliated Customers       Cement Business $ 20,651        $      21,753        $ 50,677        $ 54,115        Ready-Mixed Concrete Business23,754        22,448        58,031        64,868       Intersegment Sales       Cement Business 4,365   3,455        10,606        10,148        Ready-Mixed Concrete Business-              915        -              915        OperatingIncome (Loss)       Cement Business7,090   7,560        13,651        17,167   Ready-Mixed Concrete Business889 (521)4 (567)CapitalExpenditures       Cement Business  2,025   2,525        4,803   14,104        Ready-Mixed Concrete Business488   2,014        1,699   3,051                           Balance as of
9/30/0712/31/06Identifiable Assets       Cement Business   $ 101,479 $ 98,343  Ready-Mixed Concrete Business 38,480 34,428 Corporate Assets29,39529,733 
 

 
- The following table presents the components of netperiodic pension and postretirement benefit costs allocated to Cost of  Sales and Selling, General and Administrative expenses for the nine months ended  September  30, 2007 and 2006:
 
Pension Benefits                
Other Benefits                 
2007     
2006     
2007 
2006Service cost$ 319,371 $ 523,257     $ 391,857 $ 381,228Interest cost994,064 1,716,380    1,233,191 1,199,740Expected return on plan assets(1,100,509)  (1,912,423) -               -        Amortization of prior service cost43,604 76,674    -               -        Recognized net actuarial gain 133,357 100,147    -               -        Unrecognized net loss-          -         617,121 600,381    Net periodic expense       $ 389,887 $ 504,035    $ 2,242,169 $ 2,181,349
The following table presents the components of net periodic costs for the threemonths ended September 30, 2007 and 2006:
  
Pension Benefits                
Other Benefits                 
2007     
      2006     
2007 
      2006Service cost$ 108,637       $ 174,419   $ 130,469       $ 127,076Interest cost338,139 572,127   410,591       399,914Expected return on plan assets(374,347)               (637,474) -                     -        Amortization of prior service cost14,832       25,558   -                     -        Recognized net actuarial gain 45,362 33,382   -                     -        Unrecognized net loss-        -   205,470       200,127    Net periodic expense       $ 132,623 $ 168,012   $ 746,530 $ 727,117
Aspreviously disclosed in our financial statements for the year ended December 31,2006, Monarch expects to contribute approximately $545,000 to the pension fundin 2007.  As of September 30, 2007, we have contributed about $218,000 andanticipate contributing an additional $327,000 to this plan in 2007 for a totalof $545,000. The other benefits consist ofpostretirement benefits that are self-insured by Monarch and are paid out ofMonarch's general assets.  As previously disclosed in our financial statementsfor the year ended December 31, 2006, Monarch expects to contributeapproximately $1,400,000 to this plan in 2007.  As of September 30, 2007, we havecontributed about $980,000 and anticipate contributing an additional $420,000to this plan in 2007.
-  A Monarch subsidiary, Monarch and three of its officers are  involved in a lawsuit with the former officers of that subsidiary and  companies formed by those officers.  All claims against Monarch, its  subsidiary and officers have been dismissed by the court; on the counterclaims  asserted by Monarch and the subsidiary, summary judgment has been granted  against the former officers with damage amounts still to be determined at  trial.  For additional information on this matter, see Item 1, Part II of this  report on Form 10-Q.  

 
-  The Company adopted the provisionsof  the Financial Accounting Standards Board (FASB) Interpretation No. 48,"Accounting for Uncertainty in Income Taxes, an interpretation of FASB StatementNo. 109" ("FIN 48").  FIN 48 clarifies the application of Statement 109 bydefining a recognition threshold of "more likely than not" that the positionwould be sustained upon examination before any part of the benefit of thatposition be recognized in an enterprise's financial statements. It also providesguidance on the measurement of the tax position. The adoption ofFIN 48 had no material effect on the Company's financial position, operations orcash flows.  The Company or one of its subsidiaries files income tax  returns in the U.S. Federal jurisdiction and various state jurisdictions.   With few exceptions, the Company is no longer subject to U.S. Federal or state  income tax examinations by tax authorities for years before 2003. 
-  The    Company adopted the provisions of Statement of Financial Accounting    Standards ("SFAS") No. 158, *"Employers' Accounting for Defined Benefit    Pension and Other Postretirement Plans, an amendment of FASB Statements No.    87, 88, 106, and 132(R)"* on December 31, 2006. The most significant    change was the requirement for the Company to recognize the entire overfunded    or underfunded status of its defined benefit and postretirement plans as  assets or liabilities in its statement of financial position and to recognize  changes, net of taxes, in that funded status in the year in which the changes  occur through comprehensive income. The Company correctly recognized the  funded status of the plans in its statement of financial position in its  December 31, 2006 10-K filing. Subsequently, we have been advised that  adjustments due to the adoption of FAS 158 for pension and postretirement  should not have been included in the Statement of Comprehensive Income for the year of  adoption, but rather should have been a direct adjustment to Accumulated Other  Comprehensive Income. We will so report these adjustments with respect to the  2006 Statement of Comprehensive Income in the next Form 10-K filing. The "as reported"  and "as revised" amounts of Other Comprehensive Income are as follows:

AS REPORTEDCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOMEFOR    THE YEARS ENDED DECEMBER 31, 2006, 2005 AND 2004    2006     2005     2004     **NET INCOME****$     13,215,225 ****$     9,658,369 ****$     2,569,203 **UNREALIZED APPRECIATION (DEPRECIATION) ON    AVAILABLE FOR SALE SECURITIES (Net of deferred     tax(benefit) expense of $308,000, $395,000, and $1,615,000    for 2006, 2005 and 2004,    respectively) 462,000  588,205  2,470,400  RECLASSIFICATION ADJUSTMENT FOR   REALIZED (GAINS) LOSSES INCLUDED IN    NET INCOME (Net of deferred tax (benefit)    expense of $0,   $155,000 and $515,000 for 2006, 2005 and 2004, respectively)-           (228,205)(770,400)MINIMUM PENSION LIABILITY (Net of deferred tax (benefit)    expense of     $497,000, $(760,000) and $(160,000)    for 2006, 2005 and 2004, respectively)744,802  (1,140,000)(240,000)ADOPTION OF FAS 158-PENSION LIABILITY (Netof deferred tax    (benefit) expense of $(872,000),    $0 and $0 for 2006, 2005 and     2004, respectively)(1,311,444)  -            -            ADOPTION OF FAS 158-POSTRETIREMENT LIABILITY    (Netof       deferred tax (benefit) expense of $(4,960,000),    $0 and $0 for 2006,     2005 and 2004, respectively)(7,444,320) -            -            **COMPREHENSIVE INCOME****$     5,666,263 ****$     8,878,369 ****$     4,029,203 **
 

AS REVISEDCONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOMEFOR    THE YEARS ENDED DECEMBER 31, 2006, 2005 AND 2004    2006     2005     2004     **NET INCOME****$     13,215,225 ****$     9,658,369 ****$     2,569,203 **UNREALIZED APPRECIATION (DEPRECIATION) ON    AVAILABLE FOR SALE SECURITIES (Net of deferred     tax(benefit) expense of $308,000, $395,000, and $1,615,000    for 2006, 2005 and 2004,    respectively) 462,000  588,205  2,470,400  RECLASSIFICATION ADJUSTMENT FOR   REALIZED (GAINS) LOSSES INCLUDED IN    NET INCOME (Net of deferred tax (benefit)    expense of $0,   $155,000 and $515,000 for 2006, 2005 and 2004, respectively)-           (228,205)(770,400)MINIMUM PENSION LIABILITY (Net of deferred tax (benefit)    expense of     $497,000, $(760,000) and $(160,000)    for 2006, 2005 and 2004, respectively)744,802  (1,140,000)(240,000)**COMPREHENSIVE INCOME****$     14,422,027 ****$     8,878,369 ****$     4,029,203 **
 

THE MONARCH CEMENT COMPANY AND SUBSIDIARIES
ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS  
**FORWARD-LOOKING STATEMENTS**

       Certain statements under  the caption "Management's Discussion and Analysis of Financial Condition and  Results of Operations," and elsewhere in this Form 10-Q report filed with the  Securities and Exchange Commission, constitute "forward-looking statements".   Except for historical information, the statements made in this report are  forward-looking statements that involve risks and uncertainties.  You can  identify these statements by forward-looking words such as "should", "expect",  "anticipate", "believe", "intend", "may", "hope", "forecast" or similar  words.  In particular, statements with respect to variations in future demand  for our products in our market area, the timing, scope, cost and benefits of  our proposed and recently completed capital improvements and expansion plans,  including the resulting increase in production capacity, our forecasted cement  sales, the timing and source of funds for the repayment of our line of credit,  our ability to pay dividends at the current level, and our anticipated increase in solid fuels and electricity required to  operate our facilities and equipment are all forward-looking statements.  You  should be aware that forward-looking statements involve known and unknown  risks, uncertainties, and other factors that may affect the actual results,  performance or achievements expressed or implied by such forward-looking  statements. Such factors include, among others:
-    general  economic and business conditions; 
-    competition; 
-    raw  material and other operating costs; 
-    costs of  capital equipment; 
-    changes in  business strategy or expansion plans; 
-    demand for  our Company's products; 
-    cyclical  and seasonal nature of our business; 
-    the affect  weather has on our business; 
-    the affect  of environmental and other government regulation; and 
-    the affect  of federal and state funding on demand for our products. 

**RESULTS OF OPERATIONS - CRITICAL ACCOUNTING POLICIES**

    Reference is made to the Management's Discussion  and Analysis of Financial Condition and Results of Operations - Accounting  Policies incorporated herein by reference to Item 7 of the Company's Annual  Report on Form 10-K for the year ended December 31, 2006 for accounting  policies which are considered by management to be critical to an understanding  of the Company's financial statements.

     The Company adopted the provisionsof  the Financial Accounting Standards Board (FASB) Interpretation No. 48,"Accounting for Uncertainty in Income Taxes, an interpretation of FASB StatementNo. 109" ("FIN 48").  FIN 48 clarifies the application of Statement 109 bydefining a recognition threshold of "more likely than not" that the positionwould be sustained upon examination before any part of the benefit of thatposition be recognized in an enterprise's financial statements. It also providesguidance on the measurement of the tax position. The adoption ofFIN 48 had no material effect on the Company's financial position, operations orcash flows.

    The Company or one of its subsidiariesfiles income tax returns in the U.S. Federal jurisdiction and various statejurisdictions.  With few exceptions, the Company is no longer subject to U.S. Federal or stateincome tax examinations by tax authorities for years before 2003.

**RESULTS OF OPERATIONS - OVERVIEW**

    Our products are used in residential,  commercial and governmental construction.  In recent years we experienced  the return of increased demand for our products.  The combination of  residential, commercial and governmental construction activities resulted in  the need for increased production to meet our customers' needs.  In  response to those needs, we have made, and continue to make, investments in  our plant and equipment to increase production and improve efficiencies.  

    Operating results for the first nine  months vary  considerably from year-to-year.  Sales and the resulting income (loss) are  significantly affected by the length and severity of winter weather and the  corresponding slowdown in construction activity.  Cement and ready-mixed  concrete sales for the first nine months of 2007 were impacted by abnormally  rainy weather, a longer period  of cold weather and a slowdown in residential construction as compared to 2006.  Volume decreases resulting from  these conditions,  partially offset by increases in price, resulted in a decrease in net  income from operations. 

**RESULTS OF OPERATIONS - THIRD QUARTER OF 2007 COMPARED  TO THIRD QUARTER OF 2006**

    Consolidated net sales for the three  months ended September 30, 2007, increased by $.2 million when compared to the  three months ended September 30, 2006.  Sales in our Cement Business were  lower by $1.1 million and sales in our Ready-Mixed Concrete Business were  higher by $1.3 million.  Cement Business sales decreased $3.1 million due  to decreased volume sold and increased $2 million due to price increases.   Ready-mixed concrete sales and other sundry building materials increased by $1.3  million due to price increases.

    Consolidated cost of sales for the three months  ended September 30, 2007, decreased by $.7 million when compared to the three  months ended September 30, 2006.  Cost of sales in our Cement Business was  lower  by $.6 million and cost of sales in our Ready-Mixed Concrete Business was  lower by $.1 million.  Cement Business cost of sales decreased about $1.8  million  due to the 14.2% decrease in volume sold which was largely offset by higher  production costs primarily resulting from lower production levels. Ready-Mixed Concrete  Business cost of sales decreased due to a decrease in volume sold. 

    As a result of the  above sales and cost of sales factors, our overall gross profit rate for the  three months ended September 30, 2007 was 26.1% versus 24.3% for the three months  ended September 30, 2006.

    Sales of equity investments during thethird quarter of 2007 resulted in a gain of approximately $.3 million.  

    The effective tax rates for the three months  ended September 30, 2007 and 2006 were 30.9% and 29.2%, respectively.  The  Company's effective tax rate differs from the federal and state statutory  income tax rate primarily due to the effects of percentage depletion, domestic  production activities deduction, minority  interest in consolidated income (loss) and valuation allowance.  Taxes for the  current year are estimated based on prior year effective tax rates.  

**RESULTS OF OPERATIONS - FIRST NINE MONTHS OF 2007 COMPARED  TO THE FIRST NINE MONTHS OF 2006**

    Consolidated net  sales for the nine months ended September 30, 2007, decreased by $10.3 million  when compared to the nine months ended September 30, 2006.  Sales in our Cement  Business were lower by $3.5 million and sales in our Ready-Mixed Concrete  Business were lower by $6.8 million.  Cement Business sales decreased $7.9  million due to decreased volume sold which was partially offset by $4.4  million due to price increases.  Sales in the Ready-Mixed Concrete  Business decreased $9.2 million due to decreased volume which was partially  offset by $2.4 million due to price increases primarily in  sales of ready-mixed concrete.

    Consolidated cost of sales for the nine months  ended September 30, 2007, decreased by $7.8 million when compared to the nine  months ended September 30, 2006.  Cost of sales in our Cement Business  decreased by $.5 million and cost of sales in our Ready-Mixed Concrete Business was  lower by $7.3 million.  Cement Business cost of sales decreased due to a  14.5% decrease in volume sold which was almost completely offset by higher  production costs primarily resulting from lower production levels. Ready-Mixed Concrete  Business cost of sales decreased due to a 18.1% decrease in volume sold which  was partially offset by an increase in costs for raw materials, including  cement, rock, sand and sundry building materials purchased for resale, due in  large part to higher fuel prices.

    As a result of the  above sales and cost of sales factors, our overall gross profit rate for the  nine months ended September 30, 2007 was 22.7% versus 22.8% for the nine months  ended September 30, 2006.

    Sales of equity investments during the  first nine months of 2007 resulted in a gain of approximately $2.4 million.  

    The effective tax rates for the nine months  ended September 30, 2007 and 2006 were 31.1% and 30.1%, respectively.  The  Company's effective tax rate differs from the federal and state statutory  income tax rate primarily due to the effects of percentage depletion, domestic  production activities deduction, minority  interest in consolidated income (loss)  and valuation allowance.  Taxes for the  current year are estimated based on prior year effective tax rates.  

** LIQUIDITY**

**   **  We are able to meet our  cash needs primarily from a combination of operations, the sale of equity  investments and bank loans.

      In December 2006, we renewed and modified our line of  credit with our current lender.  Our current unsecured credit commitment  consists of a $25 million advancing term loan maturing December 31, 2009 and a  $15 million line of credit maturing December 31, 2007.  The term loan  bears a floating interest rate based on JP Morgan Chase prime rate less .75%  and the line of credit bears a floating interest rate based on lender's  national prime rate less 1.00%.  The loan agreement contains a financial  covenant related to net worth which the Company was in compliance with at the  end of the third quarter of 2007.  As of September 30, 2007, we had  borrowed $19.9 million on the advancing term loan and $3.9 million on the line  of credit leaving a balance available on the line of credit of $11.1 million.   The annual weighted average interest rate we paid on the advancing term loan  during the third quarter of 2007 and 2006 was 7.4% and 7.5%, respectively,  and for the first nine months of 2007 and 2006 was 7.5% and 7.1%, respectively.   The annual weighted average interest rate we paid on the line of credit during  the third quarter of 2007 and 2006 was 7.2% and 7.3%, respectively, and for  the first nine months of 2007 and 2006 was 7.2% and 6.9%, respectively.   As of September 30, 2007, the applicable interest rate was 7.00% on the advancing  term loan and 6.75% on the line of credit. The advancing term loan was used to  help finance the expansion project at our cement manufacturing facility.   The line of credit is used to cover operating expenses during the half of the year when we build inventory due to the seasonality of our  business and for capital expenditures. Our board of  directors has given management the authority to borrow an additional $10  million for a maximum of $50 million. 

         The Company plans further capital expenditures,  including changes to our quarrying and grinding operation to supply the raw  materials required by the increased kiln capacity, improvements to our fuel  handling system and installation of an overland conveyor system to improve  efficiencies in moving raw materials. However, we do not anticipate capital expenditures for 2007 to be as  great as 2006 and we do not anticipate the need for additional bank financing other than that available  under existing lines of credit.

      For several years the  Company has paid a $.20 per share dividend in January, March, June and  September.  Beginning with the April 2006 Board of Directors meeting, the Board elected to  increase these dividends to $.21 per share and at the April 2007 Board of  Directors meeting, the Board increased the dividend to $.22 per share. Although  dividends are declared at the Board's discretion, we project future earnings  will support the continued payment of dividends at the current level.

**FINANCIAL  CONDITION**

    Total assets as of  September 30, 2007 were $169.4  million, an increase of $6.9 million since December 31, 2006 due to increases  in receivables and inventories of approximately $4.6 million and $4.4 million,  respectively.  These variations are common during the first nine months of  the year due to the seasonality of our business (see Seasonality below).  

    Accounts payable increased about $2.4 million as  of September 30, 2007 compared to December 31, 2006 primarily due to the expenses  related to increased sales volume in September over December.

    Indebtedness  decreased about $3.8 million during  the first nine months of 2007 primarily as a result of utilizing cash provided  by operations to reduce our bank loans.

**CAPITAL  RESOURCES**
    The Company  regularly invests in miscellaneous equipment and facility improvements in both  the Cement Business and Ready-Mixed Concrete Business.  Capital expenditures  during the first nine months of 2007 included expenditures to improve efficienciesin moving raw materials. We also invested in routine equipment purchases during the first  nine months of 2007, primarily in the Ready-Mixed Concrete Business. During the  first nine months of 2007, cash expenditures for property, plant and equipment  totaled approximately $6 million, excluding the amounts that are included in  accounts payable.  
    Plans under  consideration for the balance of 2007 include changes to our quarrying and grinding operation  to supply the raw materials required by the increased kiln capacity. TheCompany also plans to invest in other miscellaneous equipment and facilityimprovements in both the Cement Business and Ready-Mixed Concrete Business in2007.  It is expected that the Company's capital expenditures willapproximate $10 million during 2007 and will be funded with a mixture of cashfrom operations and temporary bank loans. We  do not anticipate the need for additional bank financing beyond the amount  available through our existing line of credit.

**MARKET RISK**     

    Market risks  relating to the Company's operations result primarily from changes in demand  for our products.  A significant increase in interest rates could lead to  a reduction in construction activities in both the residential and commercial  market.  Budget shortfalls during economic slowdowns could cause money to  be diverted away from highway projects, schools, detention facilities and  other governmental construction projects.  Reduction in construction  activity lowers the demand for cement, ready-mixed concrete, concrete products  and sundry building materials.  As demand decreases, competition to  retain sales volume could create downward pressure on sales prices.  The  manufacture of cement requires a significant investment in property, plant and  equipment and a trained workforce to operate and maintain this equipment.  These costs do not materially vary with the level of production.  As a  result, by operating at or near capacity, regardless of demand, companies can  reduce per unit production costs.  The continual need to control  production costs encourages overproduction during periods of reduced demand.

**INFLATION**

      Inflation  directly affects the Company's operating costs.  The manufacture of cement  requires the use of a significant amount of energy.  The Company burns  primarily solid fuels, such as coal and petroleum coke, and to a lesser extent  natural gas, in its kilns and uses a significant amount of electricity to  operate our cement manufacturing equipment.  An increase in such manufacturing  components could adversely affect us.  Prices of the specialized replacement  parts and equipment the Company must continually purchase tend to increase  directly with the rate of inflation causing manufacturing costs to increase. 

**SEASONALITY**

    Portland cement is the basic material used in  the production of ready-mixed concrete that is used in highway, bridge and  building construction.  These construction activities are seasonal in nature.   During winter months when the ground is frozen, groundwork preparation cannot  be completed.  Cold temperatures affect concrete set-time, strength and  durability, limiting its use in winter months.  Dry ground conditions are also  required for construction activities to proceed.  During the summer, winds and  warmer temperatures tend to dry the ground quicker creating fewer delays in  construction projects.

    Variations in weather conditions from  year-to-year significantly affect the demand for our products during any  particular quarter; however, our Company's highest revenue and earnings  historically occur in its second and third fiscal quarters, April through  September.

 

Item 3.        Quantitative and Qualitative Disclosures  about Market Risk

    The Company owns $14.6 million of equity  securities, primarily publicly traded entities, as of September 30, 2007.  These  investments are not hedged and are exposed to the risk of changing market  prices.  The Company classifies these securities as "available-for-sale" for  accounting purposes and marks them to market on the balance sheet at the end  of each period.  Management estimates that its investments will generally be  consistent with trends and movements of the overall stock market excluding any  unusual situations.  An immediate 10% change in the market price of our equity  securities would have a $.9 million effect on comprehensive income.

    The Company also has $23.8 million of bank loans  as of September 30, 2007.  Interest rates on the Company's advancing term loan and  line of credit are variable and are based on the JP Morgan Chase prime rate  less .75% and lender's national prime rate less 1.00%, respectively. 

Item 4.          Controls and Procedures 

    The Company maintains disclosure controls and  procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act)  that are designed to ensure that information required to be disclosed in the  Company's reports under the Exchange Act is recorded, processed, summarized  and reported within the time periods specified in the rules and forms of the  Securities and Exchange Commission, and that such information is accumulated  and communicated to the Company's management, including its President and  Chief Financial Officer, as appropriate, to allow timely decisions regarding  required disclosures.  Any controls and procedures, no matter how well  designed and operated, can provide only reasonable assurance of achieving the  desired control objectives.

    As of the end of the period covered by this  report, an evaluation was carried out by the Company's management, including  its President and Chairman of the Board of Directors and Chief Financial  Officer, of the effectiveness of its disclosure controls and procedures (as  defined in Rules 13a-15(e) under the Securities Exchange Act of 1934).  Based  upon that evaluation, the Company's President and Chairman of the Board of  Directors and Chief Financial Officer concluded that these disclosure controls  and procedures were effective as of the end of the period covered by this  report.

    There were no changes in our internal control  over financial reporting that occurred during the quarter ended September 30, 2007  that materially affected, or are reasonably likely to materially affect, our  internal control over financial reporting. 

  PART  II.   OTHER INFORMATION

Item 1.        Legal Proceedings

    The Company and Tulsa Dynaspan, Inc. ("TDI")  a subsidiary of the Company, are defendants in a case brought by David Markle,  Richard Evilsizer, and five other named plaintiffs, filed in the District  Court of Tulsa County, Oklahoma, on December 29, 2004 and amended on January  19, 2005, January 6, 2006, August 18, 2006, and January 12, 2007. Prior to the  August 18, 2006 amendment, Plaintiffs dismissed claims they had previously  asserted for defamation and various business torts, derivative claims brought  on behalf of the Company, and claims to ownership of an invention relating to  parking garage construction. Markle and Evilsizer remain as Plaintiffs; the  five other original Plaintiffs remain in the action only as counterclaim  defendants. Plaintiffs seek an award of actual and exemplary damages from the  Company, one of its directors and four of TDI's directors for alleged breach  of fiduciary duties owed to TDI, based upon derivative and breach of contract  claims. The Company has asserted a counterclaim based upon breach of contract  against Markle and TDI has asserted counterclaims based upon breach of  fiduciary duty, misappropriation, violations of the Computer Fraud and Abuse  Act and the Oklahoma Trade Secrets Act, unjust enrichment, and various  business torts against all of the original plaintiffs. Plaintiffs also seek an  order from the Court that the Company purchase Plaintiffs' shares of TDI stock  for fair value. On April 10, 2007, the Court heard arguments on various  motions and subsequently entered the following orders: Monarch and the  individual directors' motion for summary judgment dismissing all of  Plaintiffs' claims was granted; Monarch's motion for summary judgment on its  pre-termination competition claim against Markle was granted; TDI's motion for  summary judgment against Plaintiffs for unjust enrichment and breach of  fiduciary duty was granted; Markle's motion for partial summary judgment on  the non-compete agreement executed by the parties was denied. Additional  hearings to establish TDI's and Monarch's damages will be necessary; all of  Plaintiffs' claims have now been dismissed. Because of the  failure of certain plaintiffs to participate in a pretrial conference the  proceedings are now bifurcated. A court trial to establish damages against Markle, Evilsizer and three other entities is set for  December 13th;  a jury trial to establish damages against Martin and Bobbitt on some claims  and liability and damages on other claims is set for April 14, 2008.  No assurances can be given as to  the outcome of this litigation.

Item 6.        Exhibits

31.1  Certificate of the President and Chairman of the Board pursuant to  Section 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934.

31.2  Certificate of the Chief Financial Officer pursuant to Section  13a‐14(a)/15d‐14(a) of the Securities Exchange Act of 1934.

32.1  18 U.S.C. Section 1350 Certificate of the President and Chairman of the  Board dated November 8, 2007.

32.2  18 U.S.C. Section 1350 Certificate of the Chief Financial Officer dated  November 8, 2007.

   

   

  S I G N A T U R E S

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

   

  The Monarch Cement Company                                                                                                 (Registrant)

  Date      November 8, 2007                                              /s/ Walter H. Wulf, Jr.             

  Walter H. Wulf, Jr.                                                                                 President and                                                                                  Chairman of the Board

   

  Date      November 8, 2007                                               /s/ Debra P. Roe                     

  Debra P. Roe, CPA                                                                                 Chief Financial Officer  and                                                                                           Assistant  Secretary‐Treasurer

   

   

 

  EXHIBIT INDEX

   

   

   Exhibit   Number                                                         Description                                   

  31.1                             Certificate of the President and Chairman of  the                                              Board pursuant to Section 13a-14(a)/15d-14(a)                                              of the Securities Exchange Act of 1934.

  31.2                            Certificate of the Chief Financial Officer  pursuant                                             to Section 13a-14(a)/15d-14(a) of the                                              Securities Exchange Act of 1934.

  32.1                           18 U.S.C. Section  1350 Certificate of the President                                             and Chairman of the Board dated November 8, 2007.

  32.2                           18 U.S.C. Section  1350 Certificate of the                                              Chief Financial Officer dated November 8, 2007. |