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F E D E R A L R E S E R V E B A NK O F N EW YORK Fiscal Agent of the United States r Circular N o. 4 7 5 5 1 L July 2, 1959 Results o f Bidding fo r 258-Day Treasury Bills, Dated July 8, 1959 Tax Anticipation Series T o A ll In corporated Banks and Trust Companies, and Others Concerned, in the Second Federal R eserve D istrict: The T reasury D epartm ent announced last evening that the tenders fo r $3,000,000,000, or thereabouts, o f T ax A n ticipation Series 258-day T reasury bills to be dated J u ly 8, 1959, and to mature M arch 22,1960, which were offered on June 29, were opened at the F ederal R eserve Banks on J u ly 1. The details o f this issue are as fo llo w s : Total applied fo r . . $4,299,054,000 Total a c c e p te d .........$3,000,328,000 (includes $327,239,000 entered on a non competitive basis and accepted in fu ll at the average price shown below) Range o f accepted competitive bids: H igh .......................... 97.239 Equivalent rate o f discount approx. 3.853% per annum Low ............................ 97.033 Equivalent rate o f discount approx. 4.140% per annum Average 97.080 Equivalent rate o f discount approx. 4.075% per annum ................... (9 percent o f the amount bid fo r at the low price was accepted) Federal R eserve D istrict Boston ................................................... New Y o r k ............................................. Philadelphia ......................................... C lev ela n d ............................................... Richmond ............................................. Atlanta ................................................. Chicago ................................................. St. L o u i s ............................................... M in n eap olis........................................... Kansas City ......................................... D a lla s ..................................................... San F r a n c is c o ....................................... T o t a l ............................................. T otal applied f o r Total accepted $ 158,271,000 1,995,727,000 173,472,000 397,009,000 120,994,000 145,566,000 549,412,000 96,495,000 128,120,000 98,527,000 152,310,000 283,151,000 $ 128,971,000 1,174,542,000 157,217,000 324,209,000 113,284,000 129,846,000 417,143,000 75,068,000 111,770,000 84,992,000 145,305,000 137,981,000 $4,299,054,000 $3,000,328,000 A lfred H ayes, P r es id en t. J
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