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F E D E R A L R E SE R V E BANK OF NEW YORK Fiscal A g en t o f the U nited States /"Circular N o. 3 5 8 2 T L A ugust 29, 1950 J RESULTS OF BIDDING FOR TREASURY BILLS DATED AUGUST 31, 1950 To all Incorporated Banks and Trust Companies in the Second Federal Reserve District and Others Concerned: A t the time of printing our Circular No. 3581, dated August 29, 1950, relating to an offering of 91-day Treasury bills, dated September 7, 1950, the results o f bidding for the previous week’s issue o f 91-day Treasury bills, dated August 31, 1950, and maturing November 30, 1950, were not available. The results, now available, are: Total applied f o r — $1,822,738,000 Total accepted — $1,100,070,000 Average p r ic e ............... 9 9 .6 7 5 + (includes $89,562,000 entered on a non competitive basis and accepted in full at the average price shown below) Equivalent rate o f discount approx. 1.285% per annum Range of accepted competitive bid s: ( Excepting three tenders totaling $600,000) High .............................. 99.690 Equivalent rate o f discount approx. 1.226% per annum L o w ................................ 99.671 Equivalent rate o f discount approx. 1.302% per annum (T h e entire amount bid for at the low price was accepted) Federal Reserve District Boston ........................................... New Y o r k .................................... Philadelphia ................................ C levelan d ....................................... Richmond .................................... A tla n ta ........................................... Chicago ........................................ St. L o u i s ...................................... M inneapolis.................................. Kansas C i t y .................................. D a lla s ............................................. San F ra n cis co .............................. T o t a l ................................ Total Applied fo r Total Acceptcd $ 20,060,000 1,337,227,000 34,045,000 38,240,000 5,218,000 8,372,000 249,349,000 • 7,820,000 12,146,000 29,375,000 21,309,000 59,577,000 $ $1,822,738,000 $1,100,070,000 A 14,560,000 675,159,000 24,045,000 27,240,000 5,218,000 8,372,000 216,349,000 7,720,000 12,146,000 29,375,000 21,309,000 58,577,000 llan S proul, President.
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