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FED ER A L RESERVE BANK O F NEW YORK Fiscal Agent of the United States T Circular No.7 4 9 6 "I L November 4, 1974 J Results of Bidding for 91-Day and 182-Day Treasury Bills (To Be Issued November 7, 1974) T o A ll Incorporated Banks and Trust Companies, and O thers Concerned, in the Second Federal R eserve D istrict: A t the time of printing our Circular No. 7495, dated November 1, 1974, announcing an offering of 91-day and 182-day Treasury bills, to be issued November 14, 1974, the results of bidding for the previous offering o f 91-day and 182-day Treasury bills, to be issued November 7, 1974, were not available. The results, now available, are: Range of Accepted Competitive Bids 9 1 -Day Treasury Bills Maturing February 6, 1975 P rice High ...................... .................. Low ........................ .................. Average................... .................. 182 -Day Treasury Bills Maturing May 8, 1975 A p p rox. equiv. annual rate 7.718% 7.952% 7.880% 1 98.049a 97.990 98.008 A p p rox. equiv. annual rate P rice 96.092 96.011 96.028 7.730% 7.890% 7.857% 1 aE xcepting one tender of $920,000. 1 These rates are on a bank discount basis. The equivalent coupon issue yields are 8.15% for the 91-day bills, and 8.30% for the 182-day bills. (98 percent of the amount of 91-day bills bid for at the low price was accepted.) (66 percent of the amount of 182-day bills bid for at the low price was accepted.) Total Tenders Applied for and Accepted (By Federal Reserve District) 9 1 -Day Treasury Bills Maturing February 6, 1975 D istrict A ccepted A pplied for Boston .................. ............... New York ............. ............... Philadelphia ............ ............... $ 40,960,000 182 -Day Treasury Bills Maturing May 8, 1975 $ 30,960,000 A pplied fo r $ 24,275,000 A ccepted $ 14,275,000 2,671,115,000 2,130,475,000 2,722,405,000 1,746,365,000 36,555,000 36,555,000 36,430,000 21,430,000 70,255,000 60,055,000 40,930,000 25,930,000 26,665,000 26,665,000 18,060,000 18,060,000 32,660,000 32,660,000 17,095,000 17,095,000 242,970,000 152,960,000 189,555,000 118,200,000 46,785,000 34,785,000 33,830,000 18,330,000 20,845,000 20,845,000 12,935,000 6,935,000 Kansas City ............ ............... 32,360,000 32,350,000 20,930,000 19,920,000 ............... 37,960,000 37,960,000 18,195,000 16,195,000 San Francisco ......... ............... 148,965,000 103,965,000 170,975,000 77,285,000 ............... $3,408,095,000 $3,305,615,000 $2 ,100,020,000 Cleveland ............... ............... Richmond ............... ............... Atlanta .................. ............... Chicago ................. ............... St. Louis ............................... Minneapolis ............ ............... T o t a l ............. $2,700,235,000 b b Includes $417,890,000 noncompetitive tenders accepted at the average price, c Includes $211,115,000 noncompetitive tenders accepted at the average price. A lfred H a y e s , President.
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