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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.