| Business Summary | | Mesabi
Trust
is
a
trust
that
holds
all
of
the
interests
formerly
owned
by
Mesabi
Iron
Company.
These
include
all
right,
title
and
interest
in
the
Amended
Assignment
of
Peters
Lease,
the
Amended
Assignment
of
Cloquet
Lease,
the
beneficial
interest
in
the
Mesabi
Land
Trust
and
all
other
assets
and
property
identified
in
the
Agreement
of
Trust.
The
Agreement
of
Trust
specifically
prohibits
the
Trustees
from
entering
into
or
engaging
in
any
business.
This
prohibition
applies
even
to
business
activities
the
Trustees
deem
necessary
or
proper
for
the
conservation
and
protection
of
the
Trust
Estate.
Leasehold
royalty
income
constitutes
the
principal
source
of
the
Trust's
revenue.
Royalty
rates
are
determined
in
accordance
with
the
terms
of
Mesabi
Trust's
leases
and
assignments
of
leases. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Mesabi
Trust
is
engaged
in
the
collection
and
distribution
of
the
income
and
proceeds
from
the
Trust
Estate
to
the
certificate
holders.
Trust
Estate
includes
interests
formerly
owned
by
Mesabi
Iron
Company.
For
the
three
months
ended
4/30/01,
revenues
increased
10%
to
$489
thousand.
Net
income
increased
20%
to
423
thousand.
Revenues
reflect
increased
royalty
income.
Earnings
also
reflect
decreased
trust
expenses. | More
from
Market Guide: Significant
Developments |
| | |
| Position | David Hoffman, 65 | Trustee | Richard Lareau, 72 | Trustee | Ira Marshall, Jr., 78 | Trustee | Norman Sprague III, 53 | Trustee |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|