Full text of G.17 Department Store Credit : January 7, 1949

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BOARD OF G O V E R N S OF THE FEDERAL RESERVE SYSTEM
G.17.3

r.:~

January 7, 19-49

DEPARTMENT STORE CREDIT
. NOVEMBER 1948
•
Instalment accounts outstanding at department stores increased somewhat less than is customary in November,, bu^. were" 44 per cent above the high level of a year earlier. Collections on instalment accounts showed a small
gain during the month, and the collection ratio : was '24.per cent for the third
successive month. At this collection-rate instalment accounts : are repaid in
about seven months.
.
'
:
•'
:
Charge,accounts receivable also showed a smaller rise than is expected "
in November, but W6re 8 per cent larger than a year ago. Collections on charge
accounts rose substantially^ and the ratio of collections to accounts receivable on the first of the .month increased further to- 55 per cent. In November '
charge accounts were outstanding,' on the average, approximately 55 days.
Both cash and credit sales showed less than the usual seasonal gain
from October to November. Cash sales, which again accounted for 51 per cent of
total sales, were 4 per cent below the year-ago level. For the first time in
over three years instalment sales dropped below the volume of a year earlier.
Charge-account sales, however, were 4 "per. cent larger than in November 1947.

Department Store Sales, Accounts Receivable and Collections.

•

Item

Sales during month
Cash
Instalment
Charg'3 account

-

»'
% :

.

:

| Percentage
O c C 1948""
. I ::to: :
I Nov. "1948

' s
.

:

'

;

;

Accounts receivable, end of month .
Injtair-ient accounts
'
Churge accounts
'
:

Collecuicns during month
Instalment accounts
Charge accounts

'

. from:
Nov, 1947
to
Nov. 1948

,. "
;

.
j
|

'
j '•
; ' i. ••

i
i '
}
/

;

, +.7
+ 8
+ 5 *

- 4 :
-2 /
+ 4

. + 3 ;
+ 6 ;

+44
+ 8

i
+ 4 I •
+10 !'

'

+34
+13

Ratio of collections' during month to accounts receivable ;at beginning of -month
!
INOV. :
Oct.
• Nov.
- '
1948 ' .
1948 '
1947
Instalment accounts
Charge accounts

24
55

24
54

Note,—Figures for November 1948 are preliminary and subject to" revision.




30
55-

!Ljf

7
DSrART:.ZNT-'STO%,S - HDVaLiBER 1918
Cash and Credit Sales, by Federal Reserve Districts
Federal
Ees er ve
District
Bo.s ton
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis .
?:ansas City
Dallas
San. Francisco
U. S. Total

Nov.
1 9 %
266
2ii7
273
271
266
330
278
292
307
351
310
: 269
272

Indexes; 19kl average - 100
Charge-account sales
Instalment sales
Cash sales
Oct.
Nov.
Nov.
Oct.
Nov.
Nov.
Nov.
Oct.
19k8p
19k819k7
19k8
19k7
.1918
19k7 • 19k8p
207
258
265
238
227
285
263
225
276
205
2k8.
316
199
293:
2k0
300
208
308
276
366
375 ^ 259
292
179

^-231'
2kl
261
25k
216
323
257
262
306
331
312
2k3
.

281

255

212
216
20k
221
217
229
298
22k
-237.
211
265
230
250.
203
' 173
258 '. 285 :
22k'
200 '... 268' .
181
266
218 ' 2k7
232
. 291
239
26k
232
27V.
258
328
313
,165
258
191..
203

219

222

262

238
225
268
25k
256
302
2kl
2k8
301
267
310
228

232
222
282
2k5
2k2
283
256
267
262
253
. -31k
. 256

250

252

I
Accounts Receivable and Collections, by Federal Reserve Districts

Federal
Reserve
District

Boston '
New York
Philadelphia
Cleveland
Richz.iond-^
Atlanta.Chicago
S1"'. Louis
• Minneapolis '
Kansas City .
Dallas
San Francisco
U. S. Total

Accounts outstanding,end of month'
Collection ratios*
Indexes; 19kl rverage = 100
Charge accounts
Instal ment
Charge accounts
In stalment
Nov; Oct. Nov. Nov. . Oct.. -Nov. Nov. - Oct. Nov. Nov. Oct. Nov.
I9k8p 19k8 19k7 19k8p 19k 8 19k7 19k8p 19k8 19k7 19k8p 19k8 19k7
121
133
172
193
131
222
120
177
161
207
269
160

113 103
.130 10k
l6k Ilk
189 138
123 . 95
229 12k
88
115
173 100
158 1-27
20k 135
269 138
156 108

160

155

111

20k
195
188
197
257
231
230- 218
200
19k
218
22k
207
22k
237
255
210
220
200
213
231 - 218
209
193
219

200
188
230
205
196
192
213
23k
207
191
21k
196

206 - 20k

21
23
' 22
22
21
17
kl
23
27
25
19
28
2k

21
25
21
21
21
17
ko
23
26
22
17
28
2k

22
50
27 , k8
28
5k
25. 5 5
ko .
25
26
kk
37
55
62
. 3k
58
3k
29
59
36
65

I

30

55

k8
k9
53
53
37
39
63
55
6k
60
66
5k

k7
k7
56
55
k7
k2
6k
55
58
59
59
65
55

p- - preliminary.
-x - Collections during month as percentage; of accounts receivable at beginning
of month.
• i.GIrj.—These data are based on reports of about 1x75 large department stores
reporting s-ales by type of transaction, .more' t-han. I4OO having' charge accounts and
aoout jOO having installment accounts. Back figures may be obtained on request from
the Division of Research and Statistics.




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