Bennett also sold notes to investors, who received copies of the company's financial statements.

The Treasury also plans to sell two-year and five-year notes next week, although the size of the auction has not been announced yet.

This week the Government will be selling $26 billion of new two- and five-year notes.

Continued delays in passing the budget may force the city to sell short-term notes.

Next week the Treasury will sell $29.25 billion of two- and five-year notes.

He started making calls to state regulators and soon discovered that Towers was selling notes in states where it had not met registration requirements.

Four times each year, the Government sells three- and 10-year notes and 30-year bonds.

They raised $97 million through selling convertible senior notes in November 2003.

The Treasury announced yesterday that it planned to sell $28.25 billion of new two- and five-year notes next week.

The city plans to sell both revenue-anticipation notes and long-term bonds in the next few months.