-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, MiCh9n8WPKG7w4qvGreKJ7Jt6AcDsAnDCRvWR2jR16BNyfcBfbjrwpc68P8ZLEKF +3nIlWs2WnFDlc2pGVmdxw== 0001047469-99-037244.txt : 20000211 0001047469-99-037244.hdr.sgml : 20000211 ACCESSION NUMBER: 0001047469-99-037244 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19990920 ITEM INFORMATION: FILED AS OF DATE: 19990929 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MESABI TRUST CENTRAL INDEX KEY: 0000065172 STANDARD INDUSTRIAL CLASSIFICATION: MINERAL ROYALTY TRADERS [6795] IRS NUMBER: 136022277 STATE OF INCORPORATION: NY FISCAL YEAR END: 0131 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-04488 FILM NUMBER: 99719967 BUSINESS ADDRESS: STREET 1: P O BOX 318 CHURCH ST STATION STREET 2: C/O BANKERS TRUST CO CORP TRUST CITY: NEW YORK STATE: NY ZIP: 10008-0318 BUSINESS PHONE: 2122506696 MAIL ADDRESS: STREET 1: C/O BANKERS TRUST COMPANY, CORPORATE STREET 2: P.O. BOX 318 CHURCH STREET STATION CITY: NEW YORK STATE: NY ZIP: 10008-0318 8-K 1 EXHIBIT 8-K - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K ------------------ CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 ------------------ Date of Report (Date of earliest event reported): September 20, 1999 ------------------- 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 - ------------------------------------------------------------------------------ - ------------------------------------------------------------------------------ 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 2 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 ------------------------------ (Registrant) By: BANKERS TRUST COMPANY ---------------------------- Corporate Trustee Principal Administrative Officer and duly authorized signatory* Date: September 24, 1999 By: /s/ Ednora Linares ---------------------------- Ednora Linares Assistant Vice President * There are no directors or executive officers of the registrant 3 INDEX TO EXHIBITS
ITEM METHOD OF FILING - ---- ---------------- 99.1 Press Release dated September 20, 1999. Filed electronically herewith.
EX-99.1 2 EXHIBIT 99.1 EXHIBIT 99.1 MESABI TRUST PRESS RELEASE New York, New York September 20, 1999 The Trustees of Mesabi Trust (NYSE: MSB) have been informed by letter dated September 20, 1999 from the New York Stock Exchange, Inc. ("NYSE") that the NYSE has further reviewed the structure of the Mesabi Trust. Based on this review under continued listing standards for specialized securities applicable to the Trust, the NYSE has advised that the Mesabi Trust is not below continued listing standards and should be considered in good standing. This updates an announcement last Friday that Mesabi Trust was previously considered below NYSE continued listing standards. Accordingly, Mesabi Trust's Units of Beneficial Interest will continue to be listed on the NYSE. In a separate development, on September 17, 1999 Northshore Mining Company announced that it has canceled an earlier announced plan to shutdown its entire operation in November due to adjustments in the pellet requirements of several Northshore customers. Northshore is the lessee/operator of the Mesabi Trust lands and is a wholly owned subsidiary of Cleveland-Cliffs, Inc. The revised production plan will now keep Northshore's smallest pelleting furnace down through the end of this year, but cancels the previously announced plan for a full shutdown of the Northshore plant between October 30 and November 24. 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. This news release contains forward-looking statements regarding the revised iron ore pellet production plan at Northshore in 1999. Actual production could differ significantly from current expectations due to inherent risks such as lower demand for steel, iron ore, higher steel imports, processing difficulties or other factors. Although the Mesabi Trustees believe that its forward-looking statements are based on reasonable assumptions, such statements are subject to risks and uncertainties, which could cause actual results to differ materially. CONTACT: Daniel Chipko c/o Bankers Trust Company 212-250-6519 -----END PRIVACY-ENHANCED MESSAGE-----