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FEDERAL R ESERVE BANK OF N E W YORK Fiscal Agent of the United States Circular No. 7136 May 3, 1973 T o A l l Banking In stitution s, and Others C on cern ed, in the S econ d F ed era l R e s e r v e D istr ic t: The following statement was made public yesterday by the Treasury Department: RESULTS OF TREASURY BOND AUCTION The Treasury has accepted $650 million of the $1,239 million of tenders received for its new 7 percent 25-year bonds auctioned today. The lowest price accepted was 98.75, which is the price to be paid by all successful bidders. This price results in a yield of about 7.11 percent (to the maturity date of May 15, 1998). Tenders at the price of 98.75 were allotted 38 percent. Tenders above that price were allotted in full. The amount accepted includes $22 million of noncompetitive tenders, which were awarded at the same price as competitive tenders. In addition to the $650 million, $40 million of the bonds were allotted to Federal Reserve Banks and Government Accounts, in exchange for notes maturing May 15, at the price at which other tenders were accepted. Alfred Hayes, President.