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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.