The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-11-22
MELON Q |. Is CUT. FOR !.
G,N. STOCKHOLDERS.
President Hill Announces Partici,
patton in the Ore Land
Profits. &

/ New York, Nov. 22.-Details Of the
long lookedsfor dividend Is to, Z Great
Northern Railway company stockholds
| ers, resulting from the leasing Of its
ore lands to the United States Steel
| corporation, are disclosed in a circular
Just issued at the Great Northern Of
For every share Of Great Northern
stock, holders will receive a share of
stock of ..the Lake Superior company,
limited, an incorporated company in
whose name the ore lands have been
held z
The Lake Superior company, how
ever, IS to transfer the ore properties
to the, Messrs. Louis W., James E. and
| Walter J. Hill, sons of. J.%J. Hill, who
will act as trustees Of the stock for, the
shareholders of the Great Northern
company. s,s .ys.,5 IA :.
Share for Share. Basis.
t'fThe beneficial interest, will con
sist OF 900 900 shares which equals
the amount Of Great Northern shares.
Ihus the distribution will be on a
share For share basis. Us -,
The net profits derived from the ore
property will be distributed at least
once eIE annually by the trustees. Some
| 1 67 "a ct the value of the dividend which
Great. Northern stockholders. will re.
| celve may be had from the fact that
the United States Steel corporation is
70 pay the beneficiary a85 cents ton
for all ore mined in the first year, be.
ginning 1907, with an increase of 8 4-1O
cents q ton a year { for, an indefinite
period. The ore lands, are believed to
contain not less than 5Q0,0O0,000 tons
MIR. HILLS Circular. ri.
| To Stockholders Of the. Great Northern
j Railway Company ~% =. r.
| certain iron ore properties have beer
| ACQUIRED and are now held for your bene-
TIT by the Lake Superior company, to-wit
The board Of directors of your com
pany, by resolution approved by the
! stockholders, has authorized and instruct
| ed the Lake Superior company limited
! to transfer the iron ore, properties tc
! Messrs. Louis w. Hill, James M Hill
| and Walter J. Hill, to be held by them II
trust and for the benefit of the stock
holders Of the Great Northern Railway
company, appearing as such Of record
at the close of business on the 9Th day
of December, 1905, and, of their assigns
The entire beneficial interest of the
trust to be created will consist Of 1,5O(
shares, and each stockholder Of this COM
pany Of record on date. above named will
| receive from the trustees a certificate fol
a number Of shares Of beneficial interest
in said trust, equal to the number o.
shares Of stock Of the GHeat Northern
Railway company held by him. t:'''
| The certificates issued by the trustees
will be transferable on their books in the
same manner as stock certificates. & 4;
i The net proceeds and profits Of the
iron properties will from time to time
and at least once In each year, be dis.
tributed by the trustees to the certificate
holders Of record at i the: date Of dis
I tribution. g.. ,~.,.-.-.~ ~ :..,.r>, =
For the purpose of making the. distri:
tbution: Of certificates, the. transfer books
Of this company will be closed at 3 pm
on Dec. 6, 1906, and .Wll be reopened. q
10 o'clock am, Dec, 8, 1906. On or about
Dec. 5, 1906, the trustees will, issue anc
deliver to the rstockholders entitled there.
Ito temporary xGGeelr:ti fcates for the number
Iof shares Of Beneficial, interest to. each
S'S on the 'su ~s such tenporar,
certificates to the trustees at their office
E32, Nassau street; New. York, on: or about
IJan.j 15,. 1907, certificates in permanent
hfornn viii be issued III exchange therefor
I By order of the board Of directors: = ,
r. 1Signed) - ~ james J. Hill: