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FE D E R A L R E SE R V E BANK
O F NEW YORK
Fiscal Agent o f the United States
r Circular No- 4 5 2 8 1
L N ovem ber 6,1 9 57 J

RESULTS OF BIDDING FOR 91-DAY TREASURY BILLS
DATED NOVEMBER 7, 1957
T o all Incorporated Banks and Trust Companies, and O thers
Concerned, in the Second Federal R eserv e D istrict:

A t the time o f printing our Circular No. 4527, dated N ovem ber 5,1957, announcing
an offerin g o f 91-day T reasury bills, to be dated N ovem ber 14, 1957, the results o f
bidding fo r the previous w eek ’ s issue o f 91-day T reasury bills, to be dated N ovem ber
7,
1957, and to mature F ebru ary 6, 1958, were not available. The results, now avail­
able, a r e :

Total applied for .. $2,475,547,000
Total accepted . . . . $1,700,448,000

(includes $363,733,000 entered on a non­
competitive basis and accepted in full
at the average price shown below)
Range of accepted competitive bids: (excepting one tender of $300,000)
Equivalent rate of discount approx.
High .................. 99.100
3.560% per annum
Low .................. 99.095
Equivalent rate of discount approx.
3.580% per annum
Average ............. 99.097
Equivalent rate of discount approx.
3.571% per annum
(52 percent of the amount bid for at the low price was accepted)

F ederal R eserv e
D istrict

Boston ..............................................
New York ........................................
Philadelphia ......................................
Cleveland ..........................................
Richmond ..........................................
Atlanta ..............................................
Chicago ..............................................
St. L ouis............................................
Minneapolis ......................................
Kansas City ......................................
Dallas ................................................
San Francisco ...................................




Total ............................

T ota l
A pplied f o r

$

Total
A ccepted

53,517,000
1,638,203,000
44,332,000
71,795,000
23,293,000
40,680,000
296,178,000
42,475,000
22,337,000
50,229,000
45,847,000
146,661,000

$2,475,547,000

$

50,989,000
1,007,585,000
30,234,000
59,395,000
21,563,000
35,826,000
228,446,000
37,237,000
21,101,000
45,341,000
39,454,000
123,277,000

$1,700,448,000
A

lfred

H

ayes,

President.