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FED ERAL R E SE R V E BANK OF NEW YORK Fiscal Agent of the United States r Circular N o. 4 2 9 3 1 L December 9, 1955 J Results o f Bidding fo r 99-Day Treasury Bills, Dated Decem ber 15, 1955 Tax Anticipation Series To A ll In corporated Banks and Trust Companies, and Others Concerned, in the Second Federal R eserve D is tr ic t: The T reasury D epartm ent announced that the tenders fo r $1,500,000,000, or thereabouts, o f T ax A nticipation Series 99-day T reasury bills to be dated December 15, 1955, and to mature M arch 23, 1956, which were offered on Decem ber 6, were opened at the F ederal R eserve Banks on D ecem ber 8. The details o f this issue are as fo llo w s : Total applied for . . $4,129,518,000 Total accepted . . . . $1,500,689,000 (Includes $352,414,000 entered on a non competitive basis and accepted in full at the average price shown below) Average p r ic e ............ Equivalent rate of discount approx. 2.465% per annum 99.322 plus Range of accepted competitive bids : (Excepting four tenders totaling $486,000) High ...................... 99.360 Equivalent rate of discount approx. 2.327% per annum L o w ........................ 99.313 Equivalent rate of discount approx. 2.498% per annum (23 percent of the amount bid for at the low price was accepted) Federal R eserv e D istrict Total A pplied for Boston .............................................. $ 217,965,000 New Y o r k ........................................ 2,133,528,000 Philadelphia .................................... 134,135,000 Cleveland.......................................... 181,200,000 Richmond ........................................ 118,418,000 A tlan ta.............................................. 127,950,000 Chicago ............................................ 516,832,000 St. L o u is .......................................... 110,663,000 64,541,000 M inneapolis...................................... Kansas C it y ...................................... 111,414,000 160,727,000 D a lla s................................................ San F ran cisco.................................. 252,145,000 T ota l .......................................... Total A ccepted $ 157,748,000 618,410,000 31,158,000 66,219,000 58,183,000 69,954,000 174,035,000 55,838,000 38,441,000 55,525,000 79,067,000 96,111,000 $4,129,518,000 $1,500,689,000 A llan S proul, President.
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