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F E D E R A L R E S E R V E BA N K O F N E W YORK Fiscal Agent of the United States r Circular N o. 4 7 2 1 "1 M arch 27, 19S9 J L Results of Bidding for 289-Day Treasury Bills, Dated April 1, 1959 To A ll Banking Institutions, and O thers Concerned, in the Second Federal R eserve D istrict: The T reasury D epartm ent announced last evening that the tenders fo r $2,000,000,000, o r thereabouts, o f 289-dav T reasury bills to be dated A p ril 1, 1959, and to m ature January 15, 1960, which w ere offered on M arch 23, w ere opened at the F ederal R eserve Banks on M arch 26. The details o f this issue are as fo llo w s : Total applied f o r . . . $3,438,785,000 Total accepted . . . . $2,000,069,000 (includes $271,795,000 entered on a nonĀ competitive basis and accepted in fu ll at the average price shown below) Range o f accepted competitive bids (excepting two tenders totaling $650,000): H igh .......................... 97.391 Equivalent rate o f discount approx. 3.250% per annum Low ............................ 97.242 Equivalent rate o f discount approx. 3.436% per annum Average 97.282 Equivalent rate o f discount approx. 3.386% per annum ................... (9 percent o f the amount bid fo r at the low price was accepted) Federal R eserve D istrict Total applied f o r Total accepted Boston .................................................... New Y ork ............................................. Philadelphia ......................................... Cleveland ............................................. Richmond ............................................. Atlanta ................................................. Chicago .................................................. St. Louis ............................................... Minneapolis ......................................... Kansas City ......................................... D a lla s ...................................................... San F r a n c is c o ....................................... $ 115,195,000 1,577,693,000 144,249,000 409,747,000 67,190,000 114,167,000 439,161,000 62,647,000 62,640,000 96,940,000 98,836,000 250,320,000 $ ............................................. $3,438,785,000 $2,000,069,000 T o t a l 54,975,000 696,538,000 125,349,000 340,967,000 50,744,000 89,512,000 250,061,000 32,282,000 52,140,000 68,570,000 74,836,000 164,095,000 A lfred H ayes, President.