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F E D E R A L R E S E R V E BANK
O F N E W YORK
Fiscal Agent of the United States
r Circular N o. 4 7 3 5 T
L
M ay 6. 1959
J

Results of Bidding for Special 340-Day Treasury Bills, Dated May 11, 1959

T o A ll Banking In stitution s, and Others Concerned,
in the Second Federal R eserve D istrict:

The Treasury Department announced today that the tenders for $2,000,000,000,
or thereabouts, of Special 340-day Treasury bills to be dated May 11, 1959, and to
mature April 15, 1960, which were offered on April 30, were opened at the Federal
Reserve Banks on May 6.
The details of this issue are as follows:
Total applied fo r . . . $3,460,864,000
Total a c c e p t e d .........$2,000,289,000

(includes $297,414,000 entered on a nonĀ­
competitive basis and accepted in full
at the average price shown below)

Range o f accepted competitive bids (excepting one tender at $1,300,000):
H igh ..........................

96.468

Equivalent rate o f discount approx.
3.740% per annum

Low ............................

96.350

Equivalent rate o f discount approx.
3.865% per annum

Average

96.378

Equivalent rate o f discount approx.
3.835% per annum

...................

(75 percent o f the amount bid for at the low price was accepted)
Federal R eserve
D istrict

Total
applied f o r

Boston ................................................... $ 145,841,000
New Y ork .............................................
1,427,339,000
Philadelphia .........................................
170,568,000
C lev ela n d ...............................................
381,150,000
Richmond .............................................
95,310,000
Atlanta ..................................................
142,780,000
Chicago .................................................
499,871,000
St. Louis ...............................................
86,458,000
M in n eap olis...........................................
80,919,000
Kansas City .........................................
87,436,000
D a lla s ......................................................
128,983,000
San F r a n c is c o .......................................
214,209,000
T o ta l




.............................................

Total
accepted

$

$3,460,864,000

84,141,000
822,214,000
131,918,000
154,000,000
63,035,000
88,730,000
323,896,000
52,308,000
50,319,000
64,336,000
103,383,000
62,009,000
$2,000,289,000

A

l fr e d

H

a y e s

,

President.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102