Full Till

The U.S. Treasury was overflowing with ready cash last week when the Government completed its Aug. 15 refinancing operations. On that date it had sold $1,188,901,650 worth of U.S. securities-- $835,036,650 in 3 1/4% bonds and $353,865,000 in 1 3/8% Treasury notes. The bond issue was announced for only $500,000,000 (TIME, Aug. 14) but this limit was greatly exceeded to accommodate an army of small investors whose subscriptions were allotted in full. After the Treasury had deducted its exchange of old securities for new, met a batch of maturing obligations and paid a small slice of interest on the Public Debt, it had a cash surplus of $489,755,150 on the day's transaction. When this was dumped into the national till, the Treasury's total cash balance amounted to $1,247,389,348--a peacetime record.

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