EARNINGS ON INVESTMENTS OF FEDERAL RESERVE BANKS.

Average amounts of earning assets held by each Federal Reserve Bank during August, 1916, earnings from each class of earning assets, and annual rates of earnings on the basis of July, 1916, returns.

1 Rate for commodity paper maturing within 90 days.

2 Rate for bills of exchange in open-market operations.

Rate for trade acceptances bought in open market without member bank indorsement.

Rate for commodity paper maturing within 30 days, 3 per cent; over 30 to 60 days, 4 per cent; over 60 to 90 days, 4 per cent; over 90 days, NOTE.-Rate for bankers' acceptances, 2 to 4 per cent.

5 per cent.