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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000912057-01-523707.txt : 20010716
<SEC-HEADER>0000912057-01-523707.hdr.sgml : 20010716
ACCESSION NUMBER:		0000912057-01-523707
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20010712
ITEM INFORMATION:		
ITEM INFORMATION:		
FILED AS OF DATE:		20010713

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:		1680511

	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>a2054153z8-k.txt
<DESCRIPTION>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): JULY 12, 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)

                                 (615) 835-2749
              (Registrant's telephone Number, including area code)

<PAGE>

ITEM 5.  OTHER EVENTS.

Mesabi Trust reports that a press release dated July 12, 2001, a copy of which
is filed herewith as Exhibit 99.1, was made publicly available on July 12, 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, announced on July 11, 2001 that the continuing weak demand for iron
ore pellets by North American steelmakers will likely necessitate a further
reduction of iron ore pellet production at Northshore by approximately
500,000 additional 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 July 12, 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:  July 12, 2001               By:  /s/ Rodney Gaughan
                                        ----------------------------------------
                                        Name:     Rodney Gaughan
                                        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 July 12, 2001..........    Filed electronically herewith.
</TABLE>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a2054153zex-99_1.txt
<DESCRIPTION>EXHIBIT 99.1
<TEXT>

<PAGE>

                                                                    EXHIBIT 99.1

                           MESABI TRUST PRESS RELEASE

New York, New York
July 12, 2001

The Trustees of Mesabi Trust (NYSE: MSB) have learned through a public
announcement made on July 11, 2001 by Cleveland-Cliffs, Inc., the corporate
parent of Northshore Mining Company, which is the lessee/operator of Mesabi
Trust lands, that the continuing weak demand for iron ore pellets by North
American steelmakers will likely necessitate a further reduction of iron ore
pellet production at Northshore of approximately 500,000 additional tons in
2001. This reduction follows an announcement by Cleveland-Cliffs in early
January 2001 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 now projects that scheduled iron ore production at Northshore
in 2001 will likely only total 3.1 million tons, rather than the 3.6 million
tons previously projected. No forecast of the volume of shipments of iron ore
pellets in 2001 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:      Mesabi Trust SHR Unit
              Bankers Trust Company
              615-835-2749



</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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