UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 18)
Mesabi Trust
(Name of Issuer)
Certificates of Beneficial Interest
(Title of Class of Securities)
590672 10 1
(CUSIP Number)
Check the appropriate box to designate the rule pursuant to which
this Schedule is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*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
Wells Fargo & Company (formerly known as 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 411,900
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 1,000
EACH (7) SOLE DISPOSITIVE POWER
REPORTING 408,900
PERSON (8) SHARED DISPOSITIVE POWER
WITH 0
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
412,900
10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Less than 5%
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 408,900*
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 1,000
EACH (7) SOLE DISPOSITIVE POWER
REPORTING 408,900*
PERSON (8) SHARED DISPOSITIVE POWER
WITH 0
9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
409,900(*)
10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Less than 5%
12) TYPE OF REPORTING PERSON*
BK
_____________________________
(*) Includes 408,900 units held for the ATTIMCO Long-Term Investment
Trust, with respect to a portion of whose assets Norwest Bank
Colorado, N.A. acts as investment advisor.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 18)
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 Wells Fargo & Company 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
P.O. Box 318, Church Street Station
New York, NY 10015
Item 2(a) Name of Person Filing:
1. Wells Fargo & Company
2. Norwest Bank Colorado, Inc. (NBC)
Item 2(b) Address of Principal Business Office:
1. Wells Fargo & Company
420 Montgomery Street
San Francisco, CA 94104
2. Norwest Bank Colorado, National Association
1740 Broadway
Denver, CO 80274-8677
Item 2(c) Citizenship:
1. Wells Fargo & Company: Delaware
2. 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. Wells Fargo & Company: Parent Holding Company in
accordance with 240.13d-1(b)(1)(ii)(G)
2. NBC: Bank as defined in Section 3(a)(6) of the Act
Item 4 Ownership:
(a) Amount beneficially owned: 412,900* units (includes
409,900 units deemed to be beneficially owned by NBC)
(b) Percent of class: Less than 5%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 411,900*
(ii) Shared power to vote or direct the vote: 1,000
(iii) Sole power to dispose or to direct the
disposition of: 411,900*
(iv) Shared power to dispose or direct the disposition
of: 1,000
Item 5 Ownership of Five Percent or Less of a Class:
If this statement is being filed to report the fact that as
of the date hereof the reporting persons have ceased to be
beneficial owners of more than five percent of the class of
securities, check the following [X].
Item 6 Ownership of More than Five Percent on Behalf of Another
Person:
Persons other than Wells Fargo & Company 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 408,900 units for
the benefit of ATTIMCO Long-Term Investment 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.
______________________
* Includes 408,900 units held for the ATTIMCO Long-Term Investment
Trust, with respect to a portion of whose assets NBC acts as
investment advisor.
Item 9 Notice of Dissolution of Group:
Not Applicable.
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: December 10, 1998
WELLS FARGO & COMPANY
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.
Norwest Bank Colorado, National Association
Norwest Bank Indiana, National Association
Norwest Bank Minnesota, National Association
Norwest Bank Minnesota North, National Association