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FEDERAL RESERVE BANK O F N E W YORK Fiscal A g en t o f the U nited States r C ir c u la r N o . 3 7 4 7 1 L A u g u s t 2 8 . 1951 J R E SU L T S O F B ID D IN G F O R T R E A S U R Y B ILLS D A T E D A U G U S T 30, 1951 lo all In corpora ted Banks and Trust Com panies in the Second Federal R eserv e D istrict and O th ers C on cern ed : At the time o f printing our Circular No. 3746, dated August 28, 1951, relating to an offering o f 91-day Treasury bills, dated September 6, 1951, the results o f bidding for the previous week’s issue o f 91-day Treasury bills, dated August 30, 1951, and maturing November 29, 1951, were not available. The results, now available, are: Total applied for — $1,998,093,000 Total accepted — $1,100,836,000 Average p r i c e ............. 9 9 .5 8 4 + (includes $132,424,000 entered on a non competitive basis and accepted in full at the average price shown below) Equivalent rate o f discount approx. 1.645% per annum Range o f accepted competitive b id s: High ............................ 99.608 Equivalent rate o f discount approx. 1.551% per annum Low 99.582 Equivalent rate o f discount approx. 1.654% per annum ............................ (25 percent o f the amount bid for at the low price was accepted) F ederal R eserv e D istrict B o s t o n ............................................. New Y ork .................................... Philadelphia .................................. Cleveland ....................................... Richmond ....................................... Atlanta ........................................... C h ic a g o ........................................... St. L o u i s ......................................... Minneapolis .................................. Kansas City ................................ Dallas ............................................. San Francisco .............................. Total ....................................... T otal A pplied fo r $ 10,952,000 1,434,856,000 26,461,000 44,193,000 11,984,000 27,772,000 257,850,000 20,353,000 3,995,000 37,048,000 31,189,000 91,440,000 $1,998,093,000 Total A ccep ted $ 9,452,000 707,506,000 10,574,000 36,193,000 10,459,000 16,342,000 182,065,000 17,278,000 3,565,000 33,848,000 18,089,000 55,465,000 $1,100,836,000 A llan S proul, President.
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