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FED ERAL RESER VE BANK O F NEW YORK Fiscal Agent o f the United States [ C ir c u la r N o . 4 2 9 9 1 D e ce m b e r 2 7 , 1955J RESULTS OF BIDDING FO R T R E A S U R Y BILLS D ATED DECEM BER 29, 1955 To all Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal R eserve D istrict: A t the time o f printing ou r Circular No. 4298, dated Decem ber 26, 1955, announcing an offerin g o f 91-day T reasury bills, to be dated January 5, 1956, the results o f bidding fo r the previous w eek ’s issue o f 91-day T reasury bills, to be dated D ecem ber 29, 1955, and m aturing M arch 29, 1956, w ere not available. The results, now available, a r e : Total applied for .. $2,404,224,000 Total accepted . . . . $1,600,521,000 Average price . . . . 99.321 Range o f accepted competitive bids: 99.355 High . ................ L o w .................... 99.317 (Includes $194,332,000 entered on a non competitive basis and accepted in full at the average price shown below) Equivalent rate of discount approx. 2.688% per annum Equivalent rate o f discount approx. 2.552% per annum Equivalent rate of discount approx. 2.702% per annum (79 percent o f the amount bid for at the low price was accepted) Federal R eserv e D istrict T ota l A pplied f o r Boston ...................................................... New Y o r k ................................................ Philadelphia ............................................ Cleveland ................................................ Richmond ................................................ Atlanta .................................................... Chicago .................................................... St. Louis .................................................. Minneapolis ............................................ Kansas City ............................................ Dallas ...................................................... San F rancisco.......................................... Total ....................... $ 26,674,000 1,844,078,000 29,838,000 60,981,000 16,033,000 22,099,000 192.430,000 46,814,000 5,619,000 36,435,000 25,148,000 98,075,000 $2,404,224,000 Total A ccep ted $ 19,233,000 1,180,553,000 12,240,000 48,531,000 12,895,000 18,928,000 118,788,000 39,393,000 5,219,000 32,637,000 20,465,000 91,639,000 $1,600,521,000 A llan S proul, President. AT 4299 F ed er a l R e se r v e Ba n k of N ew Yo r k N E W Y O R K 4 5 . N.Y. RECTOR 2 -5 7 0 0 December 2 8 , 1955 To Member and Nonmember Clearing Banks in the Second Federal Reserve District: We have been advised that floods have disrupted transpor tation facilities and have hampered operations at some banks in northern California. As a result, there may be delays in present ment of cash and noncash items to banks located in the affected area, and in receiving advices of nonpayment and unpaid items from such banks. W e will continue to dispatch cash items deposited with us payable in the affected area and to give credit therefor in accord ance with our time schedules, but we reserve the right to charge back any unpaid items at any time. ALLAN SPROUL, President.
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