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F E D E R A L R E S E R V E BANK O F N E W YO R K Fiscal A gen t o f the U nited States f Circular N o. 4 4 8 J S 1 L June 27, 1957 J Results of Bidding for 264-Day Treasury Bills, Dated July 3, 1957 Tax Anticipation Series To A ll In corporated Banks and Trust Companies, and Others Concerned, in the Second Federal R eserve D istrict: The Treasury Department announced last evening that the tenders for $3,000,000,000, or thereabouts, o f Tax Anticipation Series 264-day Treasury bills to be dated July 3, 1957, and to mature March 24, 1958, which were offered on June 24, were opened at the Federal Reserve Banks on June 26. The details o f this issue are as follow s: Total applied f o r . . . $4,545,824,000 Total a c c e p t e d ......... $3,000,004,000 (includes $368,809,000 entered on a non competitive basis and accepted in full at the average price shown below 1) Range o f accepted competitive b id s: (excepting three tenders totaling $1,200,000) H igh .......................... 97.653 Equivalent rate o f discount approx. 3.200% per annum Low ............................ 97.389 Equivalent rate o f discount approx. 3.560% per annum Average 97.445 Equivalent rate o f discount approx. 3.485% per annum ................... (83 percent o f the amount bid for at the low price was accepted) Federal R eserve D istrict Total A pplied f o r Total A ccepted Boston ................................................... New Y ork ............................................. Philadelphia ......................................... Cleveland ............................................. Richmond ............................................. Atlanta ................................................. Chicago ................................................. St. Louis ............................................... Minneapolis ......................................... Kansas City ......................................... Dallas ................................................... San F r a n c is c o ...................................... $ 180,630,000 2,215,035,000 190,630,000 224,042,000 109,995,000 149,985,000 544,034,000 152,641,000 113,926,000 91,406,000 220,110,000 353,390,000 $ 180,230,000 1,010,035,000 154,630,000 206,942,000 93,895,000 139,685,000 427,234,000 138,921,000 109,926,000 85,406,000 218,710,000 234,390,000 ............................................. $4,545,824,000 $3,000,004,000 To t a l A l fr e d H a y e s , President.
@FedFRASER