In addition to the auction, corporate debt sales were priced yesterday, adding to the market's supply woes.

Yesterday's $10 billion auction of 30-year bonds was the final and most difficult part of the quarterly debt sales.

The Finance Ministry said it would use cash raised in recent debt sales to retire the bonds.

For many credit market participants, those debt sales will be the last significant events of 1991.

Bond prices dropped for a fourth session as demand was dampened by $52 billion of planned debt sales and concern over interest rates.

Neither Ms. Martini, whose title was director of debt sales nor her lawyers could be reached.

Cash-management bills are used to meet the Treasury's short-term cash needs, in addition to its regular schedule of debt sales.

Prices fell on concern that $15 billion of corporate debt sales would draw demand away from Treasury securities in coming days.

Still, traders expect that Treasuries could have a difficult time in the weeks ahead, with about $44 billion more in debt sales scheduled.

The 12-day bills are used to meet the Treasury's short-term cash needs and are an addition to its regular schedule of debt sales.