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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent of the United States C Circular N o.7 4 8 4*i October 22, 1974 J Results of Bidding for 91-Day and 182-Day Treasury Bills (To Be Issued October 24, 1974) To All Incorporated Banks and Trust Companies, and Others Concerned, in the Second Federal Reserve District: A t the time of printing our C ircular N o. 7483, dated O ctober 18, 1974, announcing an offering o f 91-day and 182-day T reasury bills, to be issued O ctober 31, 1974, the results of bidding for the previous offering o f 91-day and 182-day T reasury bills, to be issued O ctober 24, 1974, were not available. T he results, now available, are: Range of Accepted Competitive Bids p / -Day Treasury Bills Maturing January 23 , 1975 Price H igh ................... ................................ Approx. equiv. annual rate 9 8 .1 0 9 a L o w ..................... ................................ A v e r a g e .............. ................................ 18 2 -Day Treasury Bills Maturing April 24 , 1975 98.095 7.4 8 1 % 7.5 3 6 % 98.098 7 .5 2 4 % 1 Approx. equiv. annual rate Price 9 6 .2 9 9 b 7.3 2 1 % 96.237 96.260 7.4 4 3 % 7 .3 9 8 % 1 b Excepting one: tender of $200,000. a Excepting one tender of $10,000. 1 These rates are on a bank discount basis. The equivalent coupon issue yields are 7.78% for the 91-day bills, and 7.79% for 182-day bills. (5 9 percent o f the amount of 182-day bills (5 2 percent of the amount o f 91-day bills bid for at the low price was accepted.) bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve District) 18 2 -Day Treasury Bills Maturing April 24 , 1975 9 1 -D ay Treasury Bills Maturing January 23 , 1975 District B oston ............... ........................... $ 43,340,000 Applied for Accepted Applied for $ 24,460,000 $ 29,750,000 Accepted $ 19,750,000 N ew Y o r k ........ ........................... 3,829,665,000 2,302,855,000 2,666,275,000 1,565,880,000 .... .......................... 57,225,000 30,285,000 13,505,000 13,505,000 Cleveland .......... ............ .............. 115,980,000 41,110,000 35,285,000 30,235,000 R ichm ond .......... .......................... 48,685,000 27,885,000 37,435,000 27,985,000 Atlanta ............... .......................... 33,700,000 31,275,000 28,580,000 28,465,000 ............. .......................... 205,165,000 34,685,000 146,600,000 96,560,000 St. L ouis ........... ........................... 50,955.000 36,830,000 40,085,000 31,085,000 M inneapolis ...... ........................ 12,985,000 4,985,000 10,640,000 10,140,000 ..................... 39,905,000 3 2 4 9 0,000 26,940,000 25,730,000 ........... 28,135,000 18,085,000 24,175,000 16,775,000 San F rancisco .. ......... 279,740,000 116,225,000 186,965,000 134,000,000 T o t a l .... ........ $4,745,480,000 Philadelphia Chicago Kansas City ...... $2,700,870,000° $3,246,235,000 $ 2 ,0 0 0 , 1 1 0 ,0 0 0 d c Includes $423,740,000 noncompetitive tenders accepted at the average price. d Includes $281,500,000 noncompetitive tenders accepted at the average price. A lfred H a y e s , President.
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