ROYALTY AGREEMENT, UNALLOCATED RESERVE AND DISTRIBUTIONS (Tables)

9 Months Ended

Oct. 31, 2016

ROYALTY AGREEMENT, UNALLOCATED RESERVE AND DISTRIBUTIONS

Schedule of unallocated cash and U.S. Government securities portion of the Trust's Unallocated Reserve

As of October 31, 2016 and January 31, 2016, the unallocated cash and U.S. Government securities portion of the Trust’s Unallocated Reserve was comprised of the following components:

	October 31, 2016 (unaudited)		January 31, 2016
Cash and U.S. Government securities	$	5,840,625	$	8,783,882
Distribution payable		(1,312,001)		(656,001)
Unallocated cash and U.S. Government securities	$	4,528,624	$	8,127,881

Schedule of reconciliation of Trust's Unallocated Reserve

A reconciliation of the Trust’s Unallocated Reserve from January 31, 2016 to October 31, 2016 is as follows:

Unallocated Reserve, January 31, 2016	$	8,989,164
Net income, nine months ended October 31, 2016		5,198,145
Distributions declared		(6,560,005)
Unallocated Reserve, October 31, 2016	$	7,627,304