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FED E R A L RESER VE BANK OF NEW YORK Fiscal Agent of the United States r Circular No. 73951 L May 21, 1974 J Results of Bidding for 91-Day and 182-Day Treasury Bills (To Be Issued May 23, 1974) To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: A t the time o f printing our Circular N o. 7393, dated M ay 17. 1974, announcing an offering o f 91-day and 183-day T reasury bills, to be issued M ay 30, 1974, the results o f bidding fo r the previous offering of 91-day and 182-day T reasu ry bills, to be issued M ay 23, 1974, w ere not available. T h e results, n ow available, a re: Range of Accepted Competitive Bids 91-Day Treasury Bills Maturing August 22,1974 182-Day Treasury Bills Maturing N ovem ber 21,1974 Approx. equiv. annual rate Pricc Approx. equiv. annual rate Price 97.962* 8 .0 6 2 % 95.810b 8 .2 8 8 % L o w .................................. ................ 97.892 8.3 3 9 % 95.681 8 .5 4 3 % ......................... ................ 97.928 S .1 9 7 % 1 95.733 8.440% * H igh ................................ ................ A verage a Excepting three tenders totaling $255,000. b Excepting three tenders totaling $440,000. 1 These rates are on a bank discount basis. The equivalent coupon issue yields are 8 .49 % for the 91-day bills, and 8 .94% for the 182-day bills. (5 8 percent o f the amount o f 91 -day bills bid fo r at the lo w price was accepted.) (83 percent o f the amount o f 182-day bills bid fo r at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve District) 91-Day Treasury Bills Maturing August 22,1974 B o s t o n .................................. ........... $ 51,680,000 $ 41,680,000 Accepted Applied for Accepted Applied for District 182-Day Treasury Bills Maturing N ovem ber 21,1974 $ 28,200,000 $ 18,200,000 ......................... ........... 2,740,945,000 1,909,930,000 2,297,180,000 1,502,880,000 Philadelphia ....................... ........... 33,185,000 33,185,000 12,095,000 12,095,000 ........................... ............. 49,660,000 49,660,000 45,205,000 45,205,000 Richm ond ........................... ............. 45,720,000 45,720,000 20,555,000 20,555,000 ................................ ............. 30,885,000 30,385,000 23,325,000 22,875,000 Chicago ................................ ............. 143,385,000 136,285,000 132,020,000 121,520,000 St. L o u i s ........................................... 46,140,000 41,140,000 47,985,000 35,985,000 .................................... 13,210,000 13,210,000 4,285,000 4,285,000 Kansas City .................................... 41,835,000 41,835,000 21,885,000 21,885,000 ................................ .............. 43,355,000 43,355,000 18,875,000 18,875,000 San Francisco ................ .............. 231,375,000 213,865,000 103,875,000 75,875,000 .............. $3,471,375,000 N ew Y o rk Cleveland Atlanta M inneapolis Dallas T otal ................. $2,600,250,000° $2,755,485,000 $1,900,235,000'1 c Includes $458,795,000 noncompetitive tenders accepted at the average price. d Includes $238,205,000 noncompetitive tenders accepted at the average price. A lfred H ayes, President.
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