On October 20 the Fund issued its second financial statement for the quarter ended August 31,1947. Authorized subscriptions of members had increased from the equivalent of $7,721.5 million to the equivalent of $7,921.5 million when Australia accepted membership in the Organization, and the equivalent of $6,579.2 million had been paid by members by August 31, as contrasted to $6,519.9 million at the end of the first financial quarter. The Fund's holdings of gold were estimated at $1,345.0 million for the period reviewed, and its holdings of currencies (including non-negotiable and non-interest bearing notes) amounted to the equivalent of $5,232.6 million.