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MATTER OF GREAT NORTHERN IRON ORE PROPERTIES

No. 47571.

263 N.W.2d 610 (1978)

In the Matter of the Trust Known as GREAT NORTHERN IRON ORE PROPERTIES.

Supreme Court of Minnesota.

February 10, 1978.

Attorney(s) appearing for the Case

Frank S. Farrell, Richard V. Wicka, Briggs & Morgan and Richard E. Kyle, J. Neil Morton and Steve A. Brand, St. Paul, for B. N. Inc.

Doherty, Rumble & Butler and Jack C. Foote, Frank Claybourne and Perry Wilson, Jr., St. Paul, for The Trustees of trust known as Great Northern Iron Ore Properties.

Arter & Hadden, Thomas V. Koykka and David G. Coleman, Cleveland, Ohio, Oppenheimer, Wolff, Foster, Shepard & Donnelly, William Oppenheimer and James R. Oppenheimer, John H. Wolf and Mark H. Stromwall, St. Paul, for Arms.

Harold Siegel, Minneapolis, for Margot Siegel.

Considered and decided by the court en banc.

ROGOSHESKE, Justice.

The subject matter of this extended litigation is the James J. Hill Trust, known as Great Northern Iron Ore Properties. In 1972, the trustees petitioned the district court for instructions as to their powers and duties to convert trust assets to cash for distribution to income beneficiaries as termination of the trust term approaches.1 The issue concerning the trustees'...

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