Royalties under amended lease agreements
Royalties Under Amended Lease Agreements
Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to property under amended lease agreements. Royalty income under the amended lease agreements is recognized as it is earned.
Royalties under Peters Lease fee
Royalties Under Peters Lease Fee
Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to property under Peters Lease fee. Royalty income under the Peters Lease fee agreement also is recognized quarterly as it is earned. Under such agreement, however, royalties are earned at the option of lessee either upon mining of crude ore from Peters Lease lands or upon shipment from Silver Bay of iron ore product produced from Peters Lease lands.
Number of units outstanding (in units)
Weighted Average Number of Units Outstanding
Units of beneficial interests outstanding at the end of the reporting period.
Distributions declared per unit (Note 3) (in dollars per unit)
Cash dividends declared per unit by an entity during the period for all units of stock and subsequently paid within the following period.
Distribution, Declared, Per Unit
Compensation of Trustees
Compensation of Trustees
The aggregate amount of each individual trustee annual compensation for services as trustee.
Professional fees and expenses:
Professional Fees and Expenses [Abstract]
Accounting
Accounting Expense
The amount of expense reported in the period for accounting services incurred on or before the balance sheet date pertaining to auditing and non-auditing services.
The amount of expense provided in the period for consulting and field representative fees incurred on or before the balance sheet date pertaining to services, advice and reports with respect to monthly production and shipments, and discussions concerning the condition and accuracy of the scales used to weigh iron ore pellets produced.
Mining consultant and field representatives
Mining Consultant and Field Representatives Expense
Insurance
Directors and Officers Liability Insurance Expense
The expense in the period incurred with respect to professional liability coverage for legal expenses and liability to shareholders, bondholders, creditors or others due to actions or omissions by a director or officer of a corporation or nonprofit organization.
Annual stock exchange fee
Annual Stock Exchange Fee
The aggregate amount of expense related to the fees associated with the stock listing on the New York Stock Exchange.
Transfer agent's and registrar's fees
Transfer Agent and Registrar Fees
This element represent Transfer agent's fees related to maintaining records of investors and account balances and transactions, canceling and issuing certificates, processing investor mailings and dealing with any associated problems. It also include registrar's fees.
Accrued income receivable (Note 2)
Accrued Income Receivable
Royalty revenue and estimated price adjustments related to prior periods earned but not yet received by the entity on its mineral interests.
Fixed Property including Intangible [Abstract]
Fixed property, including intangibles, at nominal values
Amended Assignment of Peters Lease
Amended Assignments of Lease Property
The interest as assignor in the Amended Assignment of Peters Lease. The Peters Lease provides that each leasehold estate will continue until the reserves of iron ore, taconite and other minerals or materials on the land subject to the Peters Lease are exhausted.
Assignment of Cloquet Lease
Assignments of Leased Property
The interest as assignor in the Amended Assignment of Cloquet Lease, executed in 1916 between Cloquet Lumber Company and Claude W. Peters.
Carrying value as of the balance sheet date of the transferable units distributed to shareholders of Mesabi Iron Company as beneficial interest in Mesabi Trust.
Certificate of beneficial interest for 13,120,010 units of land trust
Certificate of Beneficial Interest Land Trust
Total Fixed property, including intangibles, at nominal values
Fixed Property including Intagible
Sum of the carrying amounts as of the balance sheet date of all fixed and intangible assets that are recognized at nominal value.
Assignments of leased property
Assignments of Leased Property [Abstract]
US Government Securities, at Carrying Value, Noncurrent
U.S. Government securities, at amortized cost (which approximates market)
This element represents the noncurrent portion of investrment in Debt (bills, notes or bonds) that are issued by the government of the United States which are short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.
Unallocated Reserve (Note 5)
Unallocated Reserve.
1. Balance sheet - unallocated reserve definition - cell J21 - Should read "The cumulative amount of the reporting entity's undistributed earnings or deficit, consisting primarily of accrued income receivable representing royalties not yet received by the Trust but anticipated to be received in future periods.
Certificate of beneficial interest of land trust, units
Transferable units distributed to shareholders of Mesabi Iron Company as beneficial interest in Mesabi Trust.
Certificate of Beneficial Interest, Units
Interest received
Interest Received, Government Securities
Total amount of cash received from interest on US Treasury and Other US Government Securities.
This element represents non cash financing activity of distribution declared.
Distributions declared
Distributions Declared
Distributions to Unitholders
The cash outflow from the trust's earnings to the unitholders.
Payments of Distributions to Unitholders
DIVIDEND AND DISTRIBUTION
Dividend and Distribution Disclosure [Text Block]
DIVIDEND AND DISTRIBUTION
The entire narrative disclosure of dividend and other distributions made as per the prevalent notification and is pad usually at the end of the reporting period.
ROYALTY AGREEMENT
ROYALTY AGREEMENT
This text block provides information about revenue recognition and royalty rate structures.
Royalty Agreement [Text Block]
UNALLOCATED RESERVE AND DISTRIBUTIONS
UNALLOCATED RESERVE AND DISTRIBUTIONS
This element may be used to describe the maintenance of unallocated reserve and determination of distibutions.
Unallocated Reserve and Distributions [Text Block]
Distribution paid $.38, $.22, $.12, $1.00, $1.25, $.045, $.310, and $.480 per unit during May 20, 2009, November 20, 2009, May 20, 2008, August 20, 2008, November 20, 2008, May 20, 2007, August 20, 2007 and November 20, 2007 respectively.
Cash dividends paid by an entity during the period for all units of stock.
Distribution Paid
Distribution declared $.55, $.11 and $.515 per unit on January 15, 2010, January 16, 2009 and January 11, 2008 respectively and paid on February 20, 2010, February 20, 2009 and February 20, 2008 respectively.
Cash dividends declared by an entity during the period for all units of stock and subsequently paid within the following period.
Distribution Declared
Unallocated Reserve Number of Trust Units
This element represent unallocated reserve number of units member.
Unallocated Reserve Units [Member]
Unallocated Reserve
The cumulative amount of the reporting trust's undistributed earnings or deficit and accrued income receivable primarily representing royalties not yet received by the Trust but anticipated to be received in future periods.
Unallocated Reserve [Member]
Trust Corpus
This element represent trust Corpus amount member.
Trust Corpus [Member]
STATEMENTS OF UNALLOCATED RESERVE AND TRUST CORPUS
Cash dividends paid per unit by an entity during the period for all units of stock.
Distribution paid, (in dollars per unit)
Distribution, Paid, Per Unit
Document and Entity Information
Statement [Table]
Statement, Scenario [Axis]
Scenario, Unspecified [Domain]
Statement
Statement [Line Items]
Revenues
Revenues [Abstract]
Royalty income
Royalty Revenue
Interest Income, Securities, US Treasury and Other US Government
Interest income
Revenues.
Total revenues
Operating Expenses
Expenses
Net Cash Provided by (Used in) Operating Activities, Continuing Operations
Net cash provided by operating activities
Net Cash Provided by (Used in) Investing Activities, Continuing Operations
Net cash provided by investing activities
Earnings Per Share, Basic
Net income per unit (Note 2) (in dollars per unit)
EXPENSES
Operating Expenses [Abstract]
Trustee Fees
Corporate Trustee's administrative fees
Legal Fees
Legal
Other Expenses
Other Trust expenses
General and Administrative Expense
Total expenses
Weighted Average Number of Shares Outstanding, Diluted
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING, Diluted (in units)
Earnings Per Share, Diluted
NET INCOME PER UNIT, Diluted (in dollars per unit)
Condensed Statements of Income
Condensed Balance Sheets
Assets
Assets [Abstract]
Cash and Cash Equivalents, at Carrying Value
Cash and cash equivalents
Cash and cash equivalents, beginning of year
Cash and cash equivalents, end of period
US Government Securities, at Carrying Value
U.S. Government securities, at amortized cost (which approximates market)
Prepaid Expense, Current
Prepaid expenses
Assets, Current
Total Current Assets
Assets.
Total Assets
Liabilities and Equity [Abstract]
Liabilities, Unallocated Reserve and Trust Corpus
Liabilities
Liabilities [Abstract]
Interest and Dividends Payable, Current
Distribution payable
Accrued Liabilities
Accrued expenses
Deferred Revenue
Deferred royalty revenue (Note 4)
Liabilities
Total Liabilities
Capital Units, Value
Trust Corpus
Liabilities and Equity
Total Liabilities, Unallocated Reserve and Trust Corpus
Reconciliation of net income to net cash provided by operating activities
Increase (Decrease) in Operating Capital [Abstract]
Proceeds from Royalties Received
Royalties received
Payments for Operating Activities
Expenses paid
Net Cash Provided by (Used in) Investing Activities [Abstract]
Cash flows from investing activities
Proceeds from Sale and Maturity of Held-to-maturity Securities
Maturities of U.S. Government Securities
Payments to Acquire Held-to-maturity Securities
Purchases of U.S. Government Securities
Increase (Decrease) in Accrued Investment Income Receivable
Decrease (increase) in accrued income receivable
Increase in accrued income receivable
Increase (Decrease) in Prepaid Expense
Increase in prepaid expenses
Increase (Decrease) in Accrued Liabilities
Decrease in accrued expenses
Increase (Decrease) in Deferred Revenue
Increase (Decrease) in deferred royalty revenue
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Non Cash Financing Activity
Condensed Statements of Cash Flows
NATURE OF BUSINESS AND ORGANIZATION
NATURE OF BUSINESS AND ORGANIZATION
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]
NET INCOME PER UNIT
Earnings Per Share [Text Block]
NET INCOME PER UNIT
Increase (Decrease) in Unallocated Reserve and Trust Corpus
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest
BALANCE
BALANCE
Shares, Issued
BALANCE, (in units)
BALANCE, (in units)
Stockholders' Equity, Period Increase (Decrease)
Stock Issued During Period, Shares, Period Increase (Decrease)
Statement, Equity Components [Axis]
Equity Component [Domain]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Significant Accounting Policies [Text Block]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF QUARTERLY EARNINGS (UNAUDITED)
Quarterly Financial Information [Text Block]
SUMMARY OF QUARTERLY EARNINGS (UNAUDITED)
SUBSEQUENT EVENT
Subsequent Events [Text Block]
SUBSEQUENT EVENT
U. S. GOVERNMENT SECURITIES
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]
U. S. GOVERNMENT SECURITIES
Entity Registrant Name
Entity Central Index Key
Document Type
Document Period End Date
Amendment Flag
Amendment Description
Current Fiscal Year End Date
Entity Well-known Seasoned Issuer
Entity Voluntary Filers
Entity Current Reporting Status
Entity Filer Category
Entity Public Float
Entity Common Stock, Shares Outstanding
Document Fiscal Year Focus
Document Fiscal Period Focus
Net Cash Provided by (Used in) Financing Activities, Continuing Operations
Cash flows from operating activities
Net Cash Provided by (Used in) Operating Activities, Continuing Operations [Abstract]
Cash flows from investing activities
Net Cash Provided by (Used in) Investing Activities, Continuing Operations [Abstract]
Cash flows used for financing activities
Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract]
Net change in cash and cash equivalents
Net Cash Provided by (Used in) Continuing Operations
Net Income (Loss) Attributable to Parent
Net income
Net income