Does anyone know what this means?

[Warren Whitmore]

"The terms of the Great Northern Iron Ore properties Trust Agreement, created December 7, 1906, state that the Trust shall continue for 20 years after the death of the last surviving of 18 named in the Trust Agreement. The last survivor of these 18 named in the Trust Agreement died April 6,1995. Accordingly, the Trust terminates 20 years from April 6, 1995 (April 6, 2015)." What does this mean to a shareholder. What happens to the stock on April 6, 2015?

thanks in advance for any information.

[GeorgeF]

1) If you want a definative answer call shareholder relations and ask.

2) My guess is that there will be a shareholders meeting to determine what to do with the remaining assets.

[Ray Zee]

most of those kind of old companies were setup and are no longer around. if this is the case you have wallpaper. if the company has assets and income then they have someone who can tell you. but with stock that has any future things going on, it is best to sell it if it has any value. if it doesnt who cares.

[Warren Whitmore]

Thanks Ray:
The fundamentals are as follows for GNI
ROE:5 year average 63%
PE: 13.9
Div: 7.8% (increased yesterday which is why I am considering purchase)
Book value:$9.80
Quick book value 2.6 (Lots of cash)
current price per share $93.75

Any further opinions would be appreciated

[Ray Zee]

if you are buying it based on a big dividend % then watch out. many companies price are tied to the dividend payout. and rightly so. but if they must decrease it in the future you get hammered badly. and most do at some point.

[Warren Whitmore]