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FED ERAL RE SE R V E BANK
OF NEW YORK
Fiscal A g en t o f the U nited States
r Circular No. 3 6 5 1 1
U February 6, 1951 J

RESULTS OF BIDDING FOR TREASURY BILLS
DATED FEBRUARY 8, 1951

T o all In corporated Banks and Trust Com panies in the
Second Federal R eserv e D istrict and O thers C oncerned:

A t the time o f printing our Circular No. 3650, dated February 6, 1951, relating
to an offering of 91-day Treasury bills, dated February 15,1951, the results o f bidding
for the previous week’s issue of 91-day Treasury bills, dated February 8, 1951, and
maturing May 10, 1951, were not available. The results, now available, a r e :
Total applied for — $1,852,077,000
Total accepted

— $1,103,139,000

Average price .............

9 9 .6 4 8 +

(includes $103,091,000 entered on a non­
competitive basis and accepted in full
at the average price shown below)
Equivalent rate of discount approx.
1.391% per annum

Range of accepted competitive b id s:
H igh ..............................

99.665

Equivalent rate o f discount approx.
1.325% per annum

L ow

99.647

Equivalent rate o f discount approx.
1.396% per annum

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

(26 percent o f the amount bid for at the low price was accepted)
F ederal R eserv e
D istrict

T otal
A pplied fo r __

Boston ........................................... $
New Y o r k ....................................
Philadelphia ................................
Cleveland .....................................
Richmond ....................................
Atlanta .........................................
Chicago .........................................
St. L o u i s .......................................
Minneapolis ................................
Kansas C i t y ..................................
Dallas ...........................................
San F r a n c is co ................. ............




Total

11,525,000
1,476,194,000
27,131,000
42,481,000
9,154,000
8,271,000
130,070,000
18,195,000
4,145,000
18,545,000
38,012,000
68,354,000

.................................... $1,852,077,000

Total
A ccepted

$

8,045,000
858,034,000
9,171,000
34,267,000
8,880,000
8,271,000
74,710,000
13,553,000
3,997,000
17,065,000
30,612,000
36,534,000
$1,103,139,000

A

llan

S proul,

President.

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