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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.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102