The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE BOARD X-3371 For I~~diate Release. CONDITION OF .1\CCEPTJ\NCE LIARFFT SEPTErl!BER 13 TO OCTOBER 10, 1923. During the first two weeks of the pariod the acceptance marl<et was ch<?.racterized by general dullness which h3.d prevailed since mid-surnme~. 'I'he supply of bills, however, increa;;;ed after the beginning of October, ani reflected the seasonal demands for funds for financing the marketing of cotton and gr~in. Bills were also draivn against sugar, silk, wool, and provisions, and to provide dollar exchange. The demand was sufficient to absorb offerings during the first part of the period b~t with the increase in the vol~£ of bills in October purchases were in excess of sales and at the end of the period dealers•aggregate portfolios showed slight increases. with maturities of 30 to 90 d~s were in the best de~nd Bills and were purchased principally for foreign account and by interior banks. remained unchanged during the period at Rates 4 l/'6 to 4 l/4 bid to 4 to 4 offered for 30-day bills and at 4 1/4 bid to 4 1/S offered for 60 and 90-day maturities. l/3
@FedFRASER