Condensed Balance Sheets - USD ($)	Apr. 30, 2017	Jan. 31, 2017
ASSETS
Cash and cash equivalents	$ 12,009,469	$ 13,695,168
U.S. Government securities, current, at amortized cost (which approximates market)	373,430	456,058
Accrued income receivable	1,231,998	45,045
Prepaid expenses	64,977	53,608
Current assets	13,679,874	14,249,879
Assignments of leased property
Amended assignment of Peters Lease	1	1
Assignment of Cloquet Leases	1	1
Certificate of beneficial interest for 13,120,010 units of Land Trust	1	1
Total fixed property	3	3
Total assets	13,679,877	14,249,882
LIABILITIES, UNALLOCATED RESERVE AND TRUST CORPUS
Distribution payable	7,216,006	1,836,801
Accrued expenses	112,697	108,193
Deferred royalty revenue		2,099,415
Total liabilities	7,328,703	4,044,409
Unallocated reserve	6,351,171	10,205,470
Trust corpus	3	3
Total liabilities, unallocated reserve and trust corpus	$ 13,679,877	$ 14,249,882