SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 15)
Mesabi Trust
(Name of Issuer)
Certificates of Beneficial Interest
(Title of Class of Securities)
590672 10 1
(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ].
(A fee is not required only if the filing person: (1) has a previous
statement on file reporting beneficial ownership of more than five
percent of the class of securities described in Item 1; and (2) has
filed no amendment subsequent thereto reporting beneficial ownership of
five percent or less of such class.) (See Rule 13d-7).
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information
which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes).
13G
CUSIP NO. 590672 10 1
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Norwest Corporation
Tax Identification No. 41-0449260
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
3) SEC USE ONLY
4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF (5) SOLE VOTING POWER
SHARES 2,248,380
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 1,000
EACH (7) SOLE DISPOSITIVE POWER
REPORTING 2,386,880
PERSON (8) SHARED DISPOSITIVE POWER
WITH 3,000
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,390,880
10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
18.2%
12) TYPE OF REPORTING PERSON*
HC
13G
CUSIP NO. 590672 10 1
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Norwest Colorado, Inc.
Tax Identification No. 84-1187164
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
3) SEC USE ONLY
4) CITIZENSHIP OR PLACE OF ORGANIZATION
Colorado
NUMBER OF (5) SOLE VOTING POWER
SHARES 2,140,000
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 1,000
EACH (7) SOLE DISPOSITIVE POWER
REPORTING 2,281,500
PERSON (8) SHARED DISPOSITIVE POWER
WITH 0
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,282,500
10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
17.4%
12) TYPE OF REPORTING PERSON*
HC
13G
CUSIP NO. 590672 10 1
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Norwest Bank Colorado, National Association
Tax Identification No. 84-0187632
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
3) SEC USE ONLY
4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
NUMBER OF (5) SOLE VOTING POWER
SHARES 2,140,000
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 1,000
EACH (7) SOLE DISPOSITIVE POWER
REPORTING 2,281,500 (1)
PERSON (8) SHARED DISPOSITIVE POWER
WITH 0
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,282,500 (1)
10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
17.4%
12) TYPE OF REPORTING PERSON*
BK
_____________________________
(1) Includes 1,305,000 units held for the AT&T Master Pension Trust,
with respect to a portion of whose assets Norwest Bank Colorado,
N.A. acts as investment advisor.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 15)
DISCLAIMER: Information in this Schedule 13G is provided solely for
the purpose of complying with Sections 13(d) and 13(g) of the Act and
regulations promulgated thereunder, and is not to be construed as an
admission that Norwest Corporation or any of its subsidiaries is the
beneficial owner of the securities covered by this Schedule 13G for any
purpose whatsoever.
Item 1(a) Name of Issuer:
Mesabi Trust
Item 1(b) Address of Issuer's Principal Executive Offices:
c/o Bankers Trust Co.
4 Albany Street, 8th Floor
New York, NY 10015
Item 2(a) Name of Person Filing:
1. Norwest Corporation
2. Norwest Colorado, Inc. (NCI)
3. Norwest Bank Colorado, Inc. (NBC)
Item 2(b) Address of Principal Business Office:
1. Norwest Corporation
Norwest Center
Sixth and Marquette
Minneapolis, MN 55479-1026
2. Norwest Colorado, Inc.
Norwest Bank Bldg.
1740 Broadway
Denver, CO 80274-8620
3. Norwest Bank Colorado, National Association
1740 Broadway
Denver, CO 80274-8677
Item 2(c) Citizenship:
1. Norwest Corporation: Delaware
2. NCI: Colorado
3. NBC: United States
Item 2(d) Title of Class of Securities:
Certificates of Beneficial Interest
Item 2(e) CUSIP Number:
590672 10 1
Item 3 The person filing is a:
1. Norwest Corporation: Parent Holding Company in
accordance with 240.13d-1(b)(1)(ii)(G)
2. NCI: Parent Holding Company in accordance with
240.13d-1(b)(ii)(G)
3. NBC: Bank as defined in Section 3(a)(6) of the Act
Item 4 Ownership:
(a) Amount beneficially owned: 2,390,880* units (includes
2,282,500 units deemed to be beneficially owned by NBC
and, accordingly, by NCI)
(b) Percent of class: 18.2%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 2,248,380*
(ii) Shared power to vote or direct the vote: 1,000
(iii) Sole power to dispose or to direct the
disposition of: 2,386,880*
(iv) Shared power to dispose or direct the disposition
of: 3,000
Item 5 Ownership of Five Percent or Less of a Class:
Not Applicable.
Item 6 Ownership of More than Five Percent on Behalf of Another
Person:
Persons other than Norwest Corporation and its subsidiaries
have the right to receive, or the power to direct the
receipt of, dividends from, or the proceeds from the sale
of, such securities. NBC holds 1,305,000 units for the
benefit of AT&T Master Pension Trust.
Item 7 Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent
Holding Company:
See Attachment A.
Item 8 Identification and Classification of Members of the Group:
Not Applicable.
Item 9 Notice of Dissolution of Group:
Not Applicable.
______________________
* Includes 1,305,000 units held for the AT&T Master Pension Trust,
with respect to a portion of whose assets NBC acts as investment
advisor.
Item 10 Certification:
By signing below, I certify that, to the best of my
knowledge and belief, the securities referred to above were
acquired in the ordinary course of business and were not
acquired for the purpose of and do not have the effect of
changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a
participant in any transaction having such purposes or
effect.
Signature.
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true,
complete, and correct.
Date: February 6, 1996
NORWEST CORPORATION
By: /s/ Laurel A. Holschuh
Laurel A. Holschuh, Senior Vice President
and Secretary
ATTACHMENT A
The Schedule 13G to which this attachment is appended is filed on
behalf of the subsidiaries listed below, all of which are classified
for purposes of Regulation 13d-1(b)(1)(ii)(B) as banks, with the
exception of Norwest Colorado, Inc. Norwest Colorado, Inc. is a wholly
owned subsidiary of Norwest Corporation and is the majority shareholder
(91.3%) of Norwest Bank Colorado, National Association. The remaining
8.7% of Norwest Bank Colorado, National Association is owned by other
wholly owned subsidiaries of Norwest Corporation.
Norwest Bank Colorado, National Association
Norwest Bank Minnesota, National Association
Norwest Bank Minnesota North, National Association
Norwest Colorado, Inc.
