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FED ER AL RESERVE BANK O F NEW YORK Fiscal Agent o f the United States p L Circular No. 7 509-1 November 22, 1974 J R e s u lt s o f T r e a s u r y ’ s O f f e r o f $ 1 B i l l i o n S tr ip o f W e e k ly B ills T o A ll In corporated Banks and Trust Companies, and Others Concerned, in the Second Federal R eserve D istrict: T h e f o ll o w in g sta tem en t w a s issu e d b y th e T r e a s u r y D e p a r tm e n t a n d relea sed at 6 : 3 0 p .m ., y e s t e r d a y : Tenders for additional amounts of $1,000,000,OCX), or thereabouts, to Reserve Banks today. The amount of issues of outstanding Treasury bills of five series of Treasury bills to an aggregate amount be issued December 4, 1974, were opened at the Federal accepted tenders will be equally divided among the five maturing December 12, 1974, December 19, 1974, De cember 26, 1974, January 2, 1975, and January 9, 1975. The details of the auction are as follow s: Range o f A ccepted Com petitive Bids A p p rox. equiv. annual rate of discount based on 22 days ( average number of days to m aturity) P rice High ...................................... 99.560 7.200% Low ........................................ 99.511 8.002% A v e r a g e ................................. 99.540 7.527% * 1 This is on a bank discount basis. The equivalent coupon issue yield is 7.67 percent. (14 percent of the amount bid for at the low price was accepted.) Tenders A pp lied for and A ccepted (B y Federal Reserve District) Federal R eserve D istrict Boston ......................................................... New Y ork ................................................... Total applied fo r $ 86,000,000 1,376,400,000 Philadelphia ................................................ Cleveland ..................................................... Richmond ..................................................... Atlanta ......................................................... C h ica g o ......................................................... St. L o u is ....................................................... Minneapolis ................................................ Kansas City ................................................ Dallas ........................................................... San Francisco ............................................ — — — 125,000 112,000,000 1,250,000 8,000,000 7,500,000 100,000 80,000,000 T o t a l ................................................ $1,671,375,000 Total accepted $ 36,000,000 781,400,000 — — — 125,000 87,000,000 1,250,000 8,000,000 7,500,000 100,000 80,000,000 $1,001,375,000a a Includes $1,375,000 noncompetitive tenders accepted at the average price. A lfr ed H ayes, President.