Last week the Treasury announced an offering of $500,000,000 of 20-30-year bonds to bear 3 3/4 % interest and to be purchased by the public at 100%. In four days the books were closed with an oversubscription of about $100,000,000. Thus the Treasury bonds with the lowest rate of interest which has been offered since the War were disposed of, and the question of how to meet the greater part of some $615,000,000 worth of Treasury notes which fell due on March 15, was settled. Some bankers felt that the Treasury was...

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