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FEDERAL RESERVE BANK OF N EW YORK Fiscal A gent o f the United States J" Circular N o. 6 4 2 5 1 L O ctober 24, 1969 J Results of Treasury’s Offer of $3 Billion of June Tax Bills To All Incorporated Banlcs and Trust Companies, and Others Concerned, in the Second Federal Reserve District: The following statement was issued by the Treasury Department and released at 6:30 p.m. yesterday: The Treasury Department announced that the tenders for $3,000,000,000, or thereabouts, of 236-day Treasury tax anticipation bills to be dated October 29, 1969, and to mature June 22, 1970, which were offered on October 17, 1969, were opened at the Federal Reserve Banks today. The details of this issue are as fo llo w s : Total applied fo r Total accepted . . $4,258,723,000 $3,000,673,000 (Includes $208,213,000 entered on a non com petitive basis and accepted in fu ll at the average price shown below) Range o f accepted com petitive b id s : H igh ........................ 95.398 L o w .......................... 95.234 Average 95.277 ................. Equivalent rate o f discount approx. 7.020% per annum Equivalent rate o f discount approx. 7.270% per annum Equivalent rate of discount approx. 7.205% per annum1 i This is on a bank discount basis. The equivalent coupon issue yield is 7.60 percent. (34 percent o f the amount bid fo r at the low price was accepted.) Federal Reserve District Boston .......................................................... New Y o r k .................................................... P h ila d e lp h ia ............................................... Cleveland .................................................... Richm ond .................................................... Atlanta ........................................................ Chicago ........................................................ St. L o u i s ...................................................... Minneapolis ................................................ Kansas City ............................................... Dallas .......................................................... San Francisco ........................................... T otal .................................................. Total applied for Total accepted $ 157,946,000 1,861,423,000 261,371,000 254,145,000 56,392,000 106,330,000 469,880,000 124,992,000 235,955,000 89,126,000 158,911,000 482,252,000 $ 147,986,000 1,021,353,000 171,471,000 239,145,000 56,192,000 104,350,000 393,060,000 117,672,000 229,955,000 89,126,000 98,911,000 331,452,000 $4,258,723,000 $3,000,673,000 A lfred H ayes, President.
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