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212
X-4441
FEDERAL
RES~RVE
BOARD
STATEMENT FOR 1HE PRtSS
For Immediate Release.
October 28, 1925.
_90lWITimJ
S~te::1ber
OF ACCEPTAL'l"CE lviA.c't:KJJ.;T
15, 1925 to October 21, 1925 •
.Accen ta:1.ces.
The acceptance market during the five week period ending October 21
was characterized by an increasing supply of bills wi til a moderate demand
which resulted in a growth of dealers' portfolios.
~his
was particularly
true of the New York market, for a more active dcma:1.d was reported from
Boston and Philadelphia, while t."lc Chicago market continued dull on both
tho supply and demand sides.
The increase in the total
vollli~O
of bills in
the market was attributed in part to seasonal drawings against cotton and
in part to firmer money conditions.
The only
cha~ges
in bill rates in
New York were an increase of 1/8 of one per cent in dealers 1 rates on 120
day and lo:1gcr maturities, and an increase in the New York Federal Resorve
Ba:1...1{: 1 s minimum buying rate on bills of 45 days or shorter rnaturi ties from
3 1/8 to 3 1/4 per cont.
On October 22, rates were quoted in the Now York
market as 3 3/8 per cent bid and 3 1/4 cffered for 30 day bills, 3 1/2 bid
and 3 3/8 offered for 60 day bills, 3 5/8 bid and 3 1/2 offered for 90
day bills, 3 3/4 bid a~1d 3 5/8 offered for 120 day bills a~1d 4 bid and
3 7/8 per cent offered for 5 and 6 months bills.
@FedFRASER