New-York tribune., 1906-11-22
HILL MELON" CUT.
EXACT SIZE OF SLICES.
Holders of Great Northern Get
Share for Share an Ore Company.

"Details of the long looked for dividend to Great
Northern Railway Company stockholders, re-
smiling from the leasing Of its ore lands to the
United States Steel Corporation, were disclosed
yesterday in a circular issued at the Great
Northern Offices
For every share of Great Northern stock hold
arc will receive a share Of stock of the Lake
sunerior Company. limited, an unincorporated
company. in whose name the ore lands have
been held
The Lake Superior Company, however. is to
transfer the ere properties to Louis w, James
y and Walter J. Hill, sons of J. J. Hill, who
will act as trustees OF the stock for the share
holders Of the Great Northern Company.
The beneficial interest will consist of 1900
900 shares. which equals the amount of Great
Northern shares. Thus the distribution will be
on share for share basis
The net profits derived from the ore proper
ties viii be divided at least once annually by
the trustees. Some idea of the value of the divi-
dend which Great Northern stockholders will
receive may be had from the fact that the
United States Steel Corporation is to pay the
beneficiary - cents a ton for all ore mined in
the first year. beginning in 1907, with an in
crease Of 3 40 cents ton year for an in
definite period. The ore lands are believed to
contain not less than 500O0O,O00 tons of iron.
President HilTs circular was as follows:
To Stockholders of Great Northern Railway
Company.
Certain iron ore properties have been acquired
and are now hold for your benefit by the Lake
Superior Company, Limited.
The board Of directors of your company by
resolution approved by the stockholders, has
authorized and instructed the Lake Superior
Company. Limited tostransfer the iron ore prop-
critics 10 Louis ". Hill James y. Hill and Wal
Ter J. Hill. 10 be held by them in trust and for
the benefit OF the stockholders of the Great
Northern Railway Company appearing as such
Of record al the close OF business on December
6 1903, and Of their assigns
The entire beneficial interest Of the trust To
be created will consist of one million five hum
dTed thousand shares. and each stoCkholder of
lhs company OF record on the date above named
VIII receive from the trustees a certificate for a
number Of shares of beneficial interest in said
trust equal 10 the number of shares OF stock of
hin ~ ~
The certificates issued by the trustees will
pe transferable upon their books in the same
number as stock certifca tes.
Ihe mel proceeds and profits of the iron prop
eEles VIII from time TO time, and az least orce
IN each year, be distributed by the trustees To
distribution VIZ I0 u
For the purpose Of making the distribution o.
CelIncates. the transfer books Of this company
VIII be closed at 3 2. m. on December 6 1o0S
sha VIII be reopened at 10 o'clock a. m De-
.enoer = 1870. on or about December s. 1906
sIe trustees VIII issue and deliver TO the stock
LioiueIS entitled thereto temporary certificates
lor the number Of shares of beneficial interest
10 Wnch each stockholder shall be so entitled
Cpoh the surrender Of such temporary certifi-
@ oales 10 The trustees at their Office 30 Nassau
s..eec' New York. on or about January Il. 1907
ger G Geruhcates in permanent form will be issued in
e1change therefor. BY order of the board OF
1-ie0'oIs JAMES j. HILL