TM-1921. Mar. 15, 1920 Mar. 15, 1921 101, 131, 500 25,582, 500 25, 582, 500 25.3 657, 469, 000 412, 319, 000 412, 319, 000 62.7 162, 178, 500 43, 165, 000 43, 165, 000 26.6 260, 322,000 90, 410,000 90, 410,000 34.7 E-1920. Apr. 1, 1920 July 1, 1920 (2) (1) F-1920.. Apr. 15, 1920 July 15, 1920 G-1920. .do. Oct. 15, 1920 250,000,000 H-1920. May 17, 1920 Nov. 15, 1920 100,000,000 June 15, 1920 B-1921 July 15, 1920 TM2-1921. .do. Jan. 3, 1921 C-1921. Aug. 16, 1920 Aug. 16, 1921 Sept. 15, 1920 ...do.. Oct. 15, 1920 Mar. 15, 1921 D-1921. Nov. 15, 1920 May 16, 1921 TJ2-1921 Dec. 15, 1920 June 15, 1921 TJ-1921.. .do. Dec. 15, 1921 E-1921 Jan. 15, 1921 Apr. 15, 1921 F-1921. .do. Oct. 15, 1921 G-1921 Feb. 15, 1921 T82-1921. Mar. 15, 1921 .do. Not assigned. July 15, 1921 201,370, 500 (1) 135,680,000 33, 920,000 169,600,000 69,851,000 33, 920,000 50,880,000 135, 680,000 81,370, 500 81,370, 500 46. 1 93,629, 500 93, 629, 500 38.6 55, 808, 500 55, 808, 500 44.0 34,583,000 34, 583,000 46.6 50,880,000 85,000,000 57, 704, 500 36.6 INTEREST RATE OF Certificates OF INDEBTEDNESS AT ISSUANCE AND RATE OF THE FEDERAL RESERVE BANK OF NEW YORK ON ADVANCES SECURED BY CERTIFICATES OF INDEBTEDNESS. Typical interest rates at issuance of United States certificates of indebtedness (omitting longest term issues in 1920 and 1921), and the rate charged by the Federal reserve bank of New York on advances secured by certificates of indebtedness. Source of information: Annual reports and circulars, Federal reserve bank of New York. MINIMUM DISCOUNT RATE OF THE BANK OF ENGLAND AND THE MARKET RATE ON 90-DAY BILLS IN Source of information: London Economist. LONDON. A chart giving the open-market selling rate of certificates of indebtedness, with certain indications to explain the variation in the rates, compared with the rate at which the Federal reserve bank makes advances upon certificates of indebtedness. And a similar chart pared upon a somewhat different basis, which will be illuminating. (See p. 559.) pre I would also like to introduce a chart covering the period of 1914 to 1921, comparing the market rate for from four to six months' com OPEN MARKET Rates for CERTIFICATES OF Indebtedness and Rate of FederAL RESERVE BANK OF NEW YORK ON ADVANCES. Open market selling rates of United States certificates of indebtedness with different numbers of months to run before maturity, compared with the rate charged by the Federal reserve bank of New York on advances secured by certi cates of indel tedness. Source of information: Annual reports and circulars of the Federal reserve bank of New York. Tabu lation of selling rates prepared by certificates of indebtedness department, Federal reserve bank of New York. mercial paper in New York with the maximum discount rate of the Federal reserve bank of New York for commercial paper (see opposite page); accompanying this are tables giving the rates from which the charts are prepared. Likewise, a chart covering the same period (see p. 559) and another covering the period since 1900 (see opposite page), giving the market rate and bank rates of London, and the minimum discount rate of the Bank of England. DISCOUNT RATE OF THE FEDERAL RESERVE BANK OF NEW YORK AND THE MARKET RATE ON COMMERCIAL PAPER. Discount rate shown is the maximum rate on commercial paper, and market rate is the prevailing sell ing rate for prime four to six months paper at New York. Source of information: Annual reports and circulars of the Federal reserve bank of New York; the New York Times, and reports of dealers to the Federal reserve bank of New York. MINIMUM DISCOUNT RATE OF THE BANK OF ENGLAND AND THE MARKET RATE ON 90-DAY BILLS I. LONDON. Source of information: Financial Review (1900-1913), London Economist (1914-1921). 91341-22-VOL 2-36 |