Item 2.02 Results of Operations and Financial Condition.

On the evening of October 19, 2009, Mesabi Trust issued a press release announcing a cash distribution of $0.22 per Unit of Beneficial Interest of Mesabi Trust. The distribution is payable on November 20, 2009 to Mesabi Trust Unitholders of record at the close of business on October 30, 2009. A copy of the press release is being furnished as Exhibit 99.1 to this Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

99.1 Press release, dated October 19, 2009.

In accordance with general instruction B.2 to Form 8-K, the information in this Form 8-K shall not be deemed to be "filed" for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section.

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