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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
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Date of Report (Date of earliest event reported): September 20, 1999
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MESABI TRUST
(Exact name of registrant as specified in its charter)
New York 1-4488 13-6022277
(State of or other juris- (Commission (I.R.S. Employer
diction of incorporation) File Number) Identification No.)
c/o Bankers Trust Company
Corporate Trust and Agency Group
P. O. Box 318, Church Street Station, New York, New York 10008-0318
(Address of principal executive offices) (zip code)
Registrant's telephone number, including area code: (212) 250-6519
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ITEM 5. OTHER EVENTS.
The Mesabi Trustees report that a press release dated September 20, 1999, a copy
of which is filed herewith as Exhibit 99.1, was made publicly available on
September 20, 1999 which included information concerning the following recent
developments: (i) the New York Stock Exchange ("NYSE") has advised Mesabi Trust
Trustees that under further review, the Units of Beneficial Interest ("Units")
are considered by the NYSE to be a "special security" and the Units will
continue to be listed under the NYSE, and (ii) Northshore Mining Company
announced on September 17, 1999 that it is canceling its previously announced
plan to shutdown its entire operation, although it will continue to keep its
smallest pelleting furnace down until the end of this year. The revised plan
would result in Northshore producing approximately 3.8 million tons of iron ore
pellets for the full year 1999. Northshore did not announce, and the Trustees
are not able to forecast, the volume of shipments of iron ore pellets for the
year.
The volume of shipments of iron ore pellets by Northshore and pellet sales
prices vary from quarter to quarter and year to year based on a number of
factors including weather conditions on the Great Lakes, the requested delivery
schedules of customers and general economic conditions in the iron ore industry.
The resulting royalties to the Trust are dependent on the volume of shipments
for the quarter and the year to date, the pricing of the iron ore product sales,
and the percentage of iron ore shipments which is from Mesabi Trust lands rather
than other lands.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
a. FINANCIAL STATEMENTS OF BUSINESS ACQUIRED.
Not applicable.
b. PRO FORMA FINANCIAL INFORMATION.
Not applicable.
c. EXHIBITS.
99.1 Press Release dated September 20, 1999
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SIGNATURES
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.
MESABI TRUST
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(Registrant)
By: BANKERS TRUST COMPANY
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Corporate Trustee
Principal Administrative Officer
and duly authorized signatory*
Date: September 24, 1999 By: /s/ Ednora Linares
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Ednora Linares
Assistant Vice President
* There are no directors
or executive officers
of the registrant
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INDEX TO EXHIBITS
ITEM METHOD OF FILING
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99.1 Press Release dated September 20, 1999. Filed electronically
herewith.