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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
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Date of Report (Date of earliest event reported): AUGUST 1, 2000
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)
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ITEM 4. CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
Effective August 1, 2000, Mesabi Trust informed McGladrey & Pullen, LLP that
it would not be selected to serve as their independent certified public
accountants for the fiscal year ending January 31, 2001 and that Mesabi Trust
has engaged Eide Bailly LLP to act as their independent certified public
accountants for their fiscal year ending January 31, 2001. The decision to
change accountants was unanimously made by the Trustees of the Mesabi Trust
after McGladrey & Pullen's resignation as Mesabi Trust's independent
accountants.
The reports of McGladrey & Pullen, LLP on Mesabi Trust financial statements for
the past two fiscal years contained no adverse opinion or disclaimer of opinion
and were not qualified or modified as to uncertainty, audit scope or accounting
principles.
During Mesabi Trust's two most recent fiscal years and through subsequent
interim period to the date hereof, there have been no disagreements with
McGladrey & Pullen, LLP on any matter of accounting principles or practices,
financial statement disclosure, auditing scope or procedure, or any reportable
events, which disagreements, if not resolved to the satisfaction of McGladrey &
Pullen, LLP, would have caused them to make reference to the subject matter of
the disagreements in connection with their report on the financial statements
for such years.
During the Registrant's two most recent fiscal years and during any subsequent
interim period prior to the engagement of Eide Bailly LLP, neither Mesabi Trust
nor anyone on its behalf has consulted the Registrant's newly engaged
accountants regarding either the application of accounting principles to a
specific transaction, whether completed or proposed, or the type of audit
opinion that might be rendered on the Registrant's financial statements, and
none of the "reportable events" described in Item 304(a)(1)(v) of Regulation S-K
under the Securities Act of 1933 have occurred. During the last two fiscal years
and the subsequent interim period to the date hereof, neither the Registrant nor
anyone on its behalf consulted Eide Bailly LLP regarding any matter or event set
forth in Item 304(a)(2) of Regulation S-K.
Mesabi Trust has provided a copy of this disclosure to McGladrey & Pullen, LLP
and has requested that McGladrey & Pullen, LLP furnish it with a letter
addressed to the Securities and Exchange Commission stating whether McGladrey &
Pullen, LLP agrees with the above statements. A copy of this letter, dated July
31, 2000, is filed as Exhibit 16.0 to this Current Report on Form 8-K.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS.
(c) Exhibits.
Ex. 16.0 Letter from McGladrey & Pullen, LLP to the SEC dated
July 31, 2000.
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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
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(REGISTRANT)
By: BANKERS TRUST COMPANY
Corporate Trustee
Principal Administrative Officer and duly
authorized signatory:*
*Dated: July 31, 2000 By: /s/ Daniel M. Chipko
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Name: Daniel M. Chipko
Title: Associate
*There are no directors
or executive officers
of the Registrant
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INDEX TO EXHIBITS
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Item No. Description Method of Filing
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16.0 Letter from McGladrey & Pullen, LLP to Filed electronically
the SEC, dated July 31, 2000................ herewith.
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