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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 non 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.
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