No. 40.-Total investment operations of Federal Reserve Banks during each month of 1918-Continued.

Total.

1,140,053, 148

1 1917 figures are exclusive of purchases of certificates of indebtedness.

2 Includes $213,607,152, bills discounted for or purchased from other Federal Reserve Banks.

No. 42.-Calculated annual rate (per cent) of earnings from total investment holdings for each Federal Reserve Bank, by months, during the calendar

Exhibit E.-GOLD SETTLEMENT FUND.

No. 43.-Condensed summary of transactions, Jan. 1 to Dec. 31, 1918, both inclusive.

Total...

311, 644

102, 433

693, 181 1,614,730 1,705,012 4,812, 105 4,812, 105 2,670,339 45, 439, 487 45, 439, 487 2,670,339

401,926

238,314

238,314

No. 44.-Weekly operations through the gold settlement fund during the calendar year 1918.

transfers and clearings.

New York bank.

of the

New York

bank.

the New

fers for

credit of

Net debit. Net credit. Net debit. Net credit. Net debit. Net credit.