Quarterly report pursuant to Section 13 or 15(d)

Note 3

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Note 3
3 Months Ended
Mar. 31, 2015
Notes to Financial Statements  
Property, Plant and Equipment Disclosure [Text Block]
(3)
No value has been assigned to the land held by the Trust other than parcels which have been acquired through foreclosure and a limited number of parcels which have been acquired because they were offered for sale and were contiguous to parcels already owned by the Trust. Consequently, no allowance for depletion is computed, and no charge to income is made, with respect thereto, and no cost is deducted from the proceeds of the land sales in computing gain or loss thereon.