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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000912057-01-000895.txt : 20010124
<SEC-HEADER>0000912057-01-000895.hdr.sgml : 20010124
ACCESSION NUMBER:		0000912057-01-000895
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20010109
ITEM INFORMATION:		
ITEM INFORMATION:		
FILED AS OF DATE:		20010110

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MESABI TRUST
		CENTRAL INDEX KEY:			0000065172
		STANDARD INDUSTRIAL CLASSIFICATION:	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:		1505745

	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:		2122506519

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a2034915z8-k.txt
<DESCRIPTION>FORM 8-K
<TEXT>

<PAGE>

                                  UNITED STATES
                       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): JANUARY 9, 2001


                                  MESABI TRUST
                                  ------------
             (Exact name of registrant as specified in its charter)


           NEW YORK                     1-4488                 13-6022277
           --------                     ------                 ----------
 (State or other jurisdiction         (Commission           (I.R.S. Employer
       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, NY 10008-0318
                    (Address of principal executive officers)

                                 (212) 250-6519
              (Registrant's telephone Number, including area code)



<PAGE>

ITEM 4.  CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT

Mesabi Trust reports that a press release dated January 9, 2001, a copy of
which is filed herewith as Exhibit 99.1, was made publicly available on
January 9, 2001. The press release announced that Cleveland-Cliffs, Inc., the
corporate parent of Northshore Mining Company, which is the lessee/operator
of Mesabi Trust lands, intends to reduce iron ore pellet production at
Northshore by approximately 700,000 tons in 2001. For complete information,
see the press release.

ITEM 7.  FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.

         (a)  FINANCIAL STATEMENTS OF BUSINESSES ACQUIRED.

                  Not Applicable

         (b)  PRO FORMA FINANCIAL INFORMATION.

                  Not Applicable

         (c)  EXHIBITS.

                  Ex. 99.1 Press Release dated January 9, 2001 (filed
                  electronically herewith).



<PAGE>

                                   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 hereunto duly authorized.

                                                    MESABI TRUST
                                  ----------------------------------------------
                                                     (REGISTRANT)

                                  By: BANKERS TRUST COMPANY
                                      Corporate Trustee
                                  Principal Administrative Officer and duly
                                  authorized signatory:*


*Dated:  January 9, 2001         By:  /s/ Daniel M. Chipko
                                    --------------------------------------------
                                    Name:     Daniel M. Chipko
                                    Title:    Associate

*There are no directors
or executive officers
of the Registrant


<PAGE>

                                INDEX TO EXHIBITS

<TABLE>
<CAPTION>

Item No.          Description                                        Method of Filing
- - - - --------          -----------                                        ----------------
<S>               <C>                                                <C>
99.1              Press Release dated January 9, 2001............    Filed Electronically
                                                                     herewith.

</TABLE>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a2034915zex-99_1.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>

<PAGE>

                                                                   EXHIBIT 99.1


                           MESABI TRUST PRESS RELEASE


New York, New York
January 9, 2001


The Trustees of Mesabi Trust (NYSE: MSB) have learned through a public
announcement by Cleveland-Cliffs, Inc., the corporate parent of Northshore
Mining Company, which is the lessee/operator of Mesabi Trust lands, that
Cleveland-Cliffs intends to reduce iron ore pellet production at Northshore
by approximately 700,000 tons in 2001. The Northshore facility has the
capacity to produce 4.3 Million tons annually, and almost that amount was
produced in 2000. Cleveland-Cliffs said that one of the pellet production
furnaces at Northshore would be shut down for an estimated 9-month period
beginning this week. Cleveland-Cliffs cited the impact on its customers of
perceived unfairly traded imports and the general deterioration in overall
steel demand in North America as reasons for the production cutback. No
forecast of the volume of shipments of iron ore pellets for the coming year
was provided.

Royalties paid to the Trust are dependent on the volume of shipments of iron
ore pellets for the quarter and the year to date, the pricing of the iron ore
product sales and the percentage of iron ore pellet shipments from Mesabi
Trust lands rather than from other lands. The volume of shipments of iron ore
pellets by Northshore and the 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.

This news release contains certain forward-looking statements with respect to
iron ore production at Northshore in 2001, which statements are intended to
be made under the safe harbor protections of the Private Securities
Litigation Reform Act of 1995. Actual production and shipments of iron ore
pellets could differ materially 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
            Bankers Trust Company
            212-250-6519



</TEXT>
</DOCUMENT>



</SEC-DOCUMENT>
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