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F E D E R A L R E S E R V E BA N K O F N EW YORK Fiscal Agent of the United States r Circular N o. 4 7 0 8 1 L A ugust 5, 1959 J T R E A S U R Y FINANCING T o A ll Incorporated B anks and Trust Companies, and Others Concerned, in the Second Federal R eserve D istrict: The follow in g statement was made public today b y the T reasury D epartm ent: The Treasury Department plans to raise approxim ately $1.7 billion o f new cash. It will raise $700 million through the sale o f additional weekly Treasury bills beginning with the bill issue on A ugust 13. A n additional amount o f $1 billion will be borrowed through the sale at auction o f a further amount o f the Tax A nticipation Treasury bills dated J u ly 8, 1959, due March 22, 1960. The first step will include the issue o f an additional $200 million of 91-day bills on A ugust 13. Tenders fo r the T ax A nticipation bills w ill be received on A ugust 13 fo r paym ent on A u gust 19. On the basis o f present estimates this completes the Treasury’s financ ing needs fo r the first quarter o f the current fiscal year. A l f r e d H a y e s , President.
@FedFRASER