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FEDERAL RESERVE OF NEW BANK YORK Fiscal A gent of the United States [ C irc u la r No. 4 4 0 1 "1 D ecem ber 18, 1956 J RESULTS OF BIDDING FO R TREASURY BILLS DATED DECEM BER 20, 1956 To all Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: A t the time of printing our Circular No. 4400, dated December 18, 1956, announc ing an offering of 91-day Treasury bills, to be dated December 27,1956, the results of bidding for the previous week’s issue of 91-day Treasury bills, to be dated December 20, 1956, and to m ature M arch 21, 1957, were not available. The results, now avail able, are: T otal applied for . . $2,351,675,000 T otal accepted . . . . $1,600,125,000 (Includes $333,340,000 entered on a non competitive basis and accepted in full at the average price shown below) R ange of accepted competitive b id s : (E xcepting one tender of $100,000) ....................... 99.180 Equivalent rate of discount approx. 3.244% per annum Low ......................... 99.152 Equivalent rate of discount approx. 3.355% per annum A verage 99.158 Equivalent rate of discount approx. 3.331% per annum H igh ................. (75 percent of the am ount bid for at the low price was accepted) Federal Reserve District B o s to n ........................................................... $ New Y ork .................................................. P h ila d e lp h ia ................................................ Cleveland ..................................................... Richm ond ..................................................... A tlanta ......................................................... C h ic a g o ....................................................... . St. Louis ....................................................... Minneapolis ................................................. K ansas City ................................................. Dallas ........................................................... San Francisco ............................................ Total ....................................... Total Applied for 37,201,000 1,627,528,000 39,777,000 76,568,000 23,206,000 44,625,000 251,675,000 37,446,000 15,327,000 39,761,000 34,106,000 124,455,000 $2,351,675,000 Total Accepted $ 31,951,000 973,153,000 24,777,000 76,568,000 23,206,000 43,825,000 182,300,000 37,446,000 15,327,000 39,761,000 34,106,000 117,705,000 $1,600,125,000 A lfred H ayes, President. FE D E R A L R E S E R V E BANK OF NEW YORK December 21, 1956. To A ll B a n k in g In s titu tio n s in the Second F ederal R eserve D i s tr ir t: E l l e n v il l e N a t io n a l B ank , Elleuville, New York, was granted a charter by the Com ptroller of the Currency on December 20, 1956, and on th at day became a member of the Federal Reserve System. This new bank is expected to open for business on December 21, 1956, with capital of $400,000 and surplus of $300,000. The A.B.A. tran sit number and check routing- symbol of Ellenville 50-1241 National Bank is 213 We have been advised by Elleuville National Bank that checks dated prior to December 21, 1956, drawn on The Home National Bank of Elleuville by its depositors will not be paid by Ellenville National Bank, and th at checks dated on or after December 21, 1956, drawn on check forms bearing the name of The Home National Bank of Ellenville as drawee will be treated by Ellenville National Bank as checks drawn on it. A lfred H ayes, President.
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