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F E D E R A L R E S E R V E BAN K OF NEW YORK Fiscal Agent of the United States r Circular No. 4 0 7 4 1 L February 16, 1954 J RESULTS OF BIDDING FOR TREASURY BILLS DATED FEBRUARY 18, 1954 T o all In corporated Banks and Trust Companies, and Others Concerned, in the Second F edera l R eserve D istrict: A t the time of printing our Circular No. 4072, dated February 16,1954, announcing an offering of 91-day Treasury bills, to be dated February 25, 1954, the results of bidding for the previous week’s issue of 91-day Treasury bills, to be dated February 18, 1954, and maturing May 20, 1954, were not available. The results, now available, are: Total applied for . . $2,140,007,000 Total accepted___ $1,500,145,000 Average p r ic e ............ 99.741-f- (Includes $206,587,000 entered on a non competitive basis and accepted in full at the average price shown below) Equivalent rate of discount approx. 1.024% per annum Range of accepted competitive bids: High ...................... 99.795 Equivalent rate of discount approx. 0.811% per annum L o w ........................ 99.736 Equivalent rate of discount approx. 1.044% per annum (75 per cent of the amount bid for at the low price was accepted) Federal R eserv e D istrict Boston ............................................... New Y o r k ......................................... Philadelphia....................................... Cleveland........................................... Richmond ........................................ A tlan ta............................................... Chicago ............................................ St. Louis ........................................... M inneapolis...................................... Kansas C it y ...................................... D a lla s................................................. San F ra n cisco.................................. Total................................ T ota l A pplied fo r $ Total A ccepted 25,654,000 1,581,499,000 31,101,000 55,935,000 27,147,000 50,195,000 187,048,000 28,606,000 9,306,000 36,694,000 39,090,000 67,732,000 $ $2,140,007,000 25,529.000 995,187,000 16,101,000 55,935,000 26,947,000 50,145,000 149,498,000 28,581,000 9,206,000 36,694,000 38,590,000 67,732,000 $1,500,145,000 A llan S proul, President.
@FedFRASER