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FEDERAL RESERVE BANK OF N EW YORK Fiscal Agent of the United States Circular No. 7 4 8 9 T October 28, 1974 J [ Results of Bidding for 91-Day and 182-Day Treasury Bills (To Be Issued October 31, 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. 7487, dated O ctober 25, 1974, announcing an offering of 91-day and 182-day Treasury bills, to be issued N ovem ber 7, 1974, the results of bidding for the previous offerin g of 91-day and 182-day T reasury bills, to be issued O ctober 31, 1974, w ere not available. T he results, now available, are: Range of Accepted Competitive Bids 18 2 -Day Treasury Bills Maturing M ay 1 , 19 7 j p i-D a y Treasury Bills Maturing January j o , 19 75 H igh ................... ............................... Low .................. ............................... A v e r a g e ............... ............................... Price Approx. equiv. annual rate 98.042a 97.984 98.005 Price Approx. equiv. annual rate 7.746% 96.100 7 .714% 7.975% 7 .8 9 2 % 1 96.048 7.817% 96.074 7 .7 6 6 % 1 a Excepting two tenders totaling $5,035,000. 1These rates are on a bank discount basis. The equivalent coupon issue yields are 8.16% for the 91-day bills, and 8.20% fo 182-day bills. (1 7 percent of the amount o f 182-day bills (6 3 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 M ay i, 1975 9 1 -Day Treasury Bills Maturing January 30 , 1975 District ............... .......................... Boston Accepted Applied for $ 37,355,000 $ 27,355,000 Applied for $ 20,905,000 Accepted $ 10,440,000 N ew Y o rk ........ .......................... 2,685,905,000 2,133,775,000 2,805,985,000 1,675,955,000 .......................... 27,100,000 27,100,000 35,110,000 10,050,000 Cleveland .......... ........................... 52,520,000 52,520,000 57,985,000 37,975,000 R ic h m o n d .......... .......................... 33,225,000 28,225,000 85,785,000 41,135,000 Atlanta ............... .......................... 27,625,000 27,455,000 13,075,000 12,775,000 ............. .......................... 2 0 0 ,2 2 0 , 0 0 0 144,220,000 182,595,000 62,595,000 St. L ouis ........... .......................... 41,260,000 26,260,000 32,500,000 9,050,000 M inneapolis ...... ........................ 5,360,000 5,360,000 2,695,000 2,695,000 ..................... 47,695,000 41,695,000 30,910,000 20,895,000 .................... 21,290,000 21,290,000 18,110,000 13,110,000 ............. 184,950,000 164,950,000 170,615,000 103,615,000 ................ $3,364,505,000 Philadelphia Chicago Kansas City ...... San Francisco ... T otal $2,700,205,000b $3,456,270,000 $2,000,290,000' b Includes $337,920,000 noncompetitive tenders accepted at the average price. c Includes $165,090,000 noncompetitive tenders accepted at the average price. A lfred H a y e s, President.
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