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F E D E R A L R E S E R V E B O A R D Statement for the Press x-3959 For Immediate Release CONDITION OF ACCEPTANCE KAEEST December 13 to January 9• During the four week period ending January 9 the acceptance market was less active than luring the preceding three months when acceptances were drawn to finance the marketing of agricultural commodities. In the latter part of December there was a decreasing supply of bills but in January the volume of new bills increased somewhat and the demand became more active, due to requests for bills from commercial firms and banks in the interior. The demand for bills was fairly good except during the last week of December, but it was less than the supply, and as a consequence dealers1 aggregate portfolios showed moderate increases at the end of the period. Rates remained generally firm and unchanged at 4 1/8 bid and U offered for 30-day bills and 4 l/4 bid and 4 l/s offered for SO and 90-day bills. Rates on longer maturities ranged from 4 l/4 to 4 5/S bid and 4 l/S to 4 3/3 offered. Bills were drawn principally against cotton, silk, sugar, grain, wool, agricultural implements, provisions, and to provide dollar exchange.
@FedFRASER