Quarterly report pursuant to Section 13 or 15(d)

Accounting Policies, by Policy (Policies)

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Accounting Policies, by Policy (Policies)
 9 Months Ended
Sep. 30, 2014
Accounting Policies [Abstract]  
Subsequent Events, Policy [Policy Text Block]

We evaluate events that occur after the balance sheet date but before financial statements are, or are available to be, issued to determine if a material event requires our amending the financial statements or disclosing the event. We evaluated subsequent events through November 6, 2014, the date we issued these financial statements.
Cash and Cash Equivalents, Policy [Policy Text Block]

The Trust invests cash in excess of daily requirements primarily in bank deposit and savings accounts and certificates of deposit with maturities of ninety days or less. Such investments are deemed to be highly liquid debt instruments and classified as cash equivalents for purposes of the statements of cash flows.


Supplemental cash flow information for the nine month periods ended September 30, 2014 and 2013 is summarized as follows:


   

2014

   

2013

 
                 

Income taxes paid

  $ 12,980,210     $ 7,203,312  
Segment Reporting, Policy [Policy Text Block]

ASC 280, “Segment Reporting,” establishes standards for the way public business enterprises are to report information about operating segments. In accordance with ASC 280, the Trust utilizes the management approach as a basis for identifying reportable segments. The management approach is based on the way that management organizes the segments within the enterprise for making operating decisions and assessing performance. The Trust’s management views its operations as one segment and believes the only significant activity is managing the land which was conveyed to the Trust in 1888. The Trust’s management makes decisions about resource allocation and performance assessment based on the same financial information presented in these financial statements. Managing the land includes sales and leases of such land, and the retention of oil and gas royalties.