Full text of G.17 Department Store Credit : June 4, 1948

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13o

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
t

G.17.3

LIBRARY

V

"1918

;H DEPART

DEPARTS
STOR# CREDIT •
„
FEOERt.L RESERVE
' •" APHjIL 19%: RK..HN'0«:

jUN

81948

i f f i A L . R E S E R V E BANK

' dp RICHMOND

' I n s t e l i n e i i t ^ c ' c b r a ^ - c i u j ^ t ^ d i n g ^ i t "departmentstores. increased slightlyIn A p r i l , and .at. t h ' ^ ^ t h - e n d V W i r ^ ^ p u . t V ^ ' S ^ t h i r d s - -ab»ye..:fche y e a r - a g c T l e v e l . :
C o l l e c t i o n s on. i n s Raiment .'accounts. dropped'# per. cen-t'-beiow. t h e March volume-, and
amounted t o 25" p e r b'eirfc.-of ifis-ialment accounts outstanding '-on. the f i r s t - of the
month as compared Vdth .a c o l l e c t i o n r a t i o "of"27vper ceiit. i n the p r e c e d i n g mdnth.
The c o l l e c t i o n ! r a t e f o r i n s t a l m e n t accounts, .outstanding i n A p r i l i n d i c a t e d "thatrepayment would be- made, on t h e average,:' i n approximately seven months, a somewhat longer period' than was- r e q u i r e d ' a year.r^go. .
'•
.Charge accounts r e c e i v a b l e were up one per cent i n A p r i l , when some ...
gain i s u s u a l ; and showed a r i s e of 17 pe^. -cent from d year . e a r l i e r . Co.ile,ctidns
on charge•accounts were 2 p e r cent l a r g e r /'than' i n t h e . preceding month,
the"
r a t i o of t h e s e c o l l e c t i o n s to accounts o u t s t a n d i n g on t h e f i r s t of the month/was
. 52. p e r c e n t , one p o i n t below the March fratio. 'At the' A p r i l c o l l e c t i o n , rate""'.',
charge' accounts .would be l i q u i d a t e d : i n Approximately $8 days.
.' "
' Cash and c r e d i t s a l e s , a t department . s t o r e s showed -sinall d e e r e a s e s ' f r o m
the high-March l e v e l s , ;Cash t r a n s a c t i o n s , accounting f o r about o n e - h a l f , o f .the
- monthly, s a l e s volume/, were 3 p e r c e n t l e s s than i n A p r i l of the preceding y e a r .
Instalment s a l e s T o s e ; n e a r l y t.wo-rfifths over the y e a f , but t$e g a i n - i n ' chargeaccouriu s a l e s was much l e s s marked.
,1 . ..

Department S t o r e S a l e s , Ace q u i t s ' Receivable and. C o l l e c t i o n s
Percentage change.from;
March 19l;8 / A p r i l 191*7
-to
to
A p r i l 191*8 A p r i l 191x6

. Item •

S a l e s during month
Cash' , ,
.
Instalment
Change account

'

' i
.

•• •

j

Accounts.Receivable, end .'of month. 1
I n s t a l m e n t accounts f
Charge accounts
; , •
C o l l e c t i o n s during: month
I n s t a l m e n t accounts'
Charge accounts _. '

-

;
.•
• , .
;

+ 2
+ 1

•

-.1*

'• . ; :
j

;

6

- 3
- 6

'

+66
+17

+39

+ 2

+11*

R a t i o of "collections- -during, .iji^n t h to accounts receivab: e a t beginning of month
I"
Apr .
Mar."
1M
. Instalment, ;a'cc,6unts
Charge accounts

25
52\

,

"27


Note.—Figures f o r A p r i l 191*8 a r e p r e l i m i n a r y ' a n d subject' to ^revision,


DEPARTMENT STORES - APRIL 1918
Cash and Credit S a l e s , by F e d e r a l Reserve D i s t r i c t s
'

--V

Feaeral
Reserve

Boston
York
Philadelphia .
Cleveland
Richmond
Atlanta
Chicago'
S t . Louis
Minneapolis •
Kansas "City
Dallas .
"San F r a n c i s c o
U. S. Total

Apr.
19k8p

Cash s a l
Mar.
1918

Indexes;- 19U1 average =
I n s t a l m e n t ;s a l e s
Apr.
Liar.
Apr.
19U8p
1918
1917

Apr.
1917

221
213
212
219
201
2L7
202
222
226
20L
328
"317
228
232
219 '
211
271
269 '
291
298
303 - 316
219
2LS :

203
209
222
211
213
360
231
229
271 :
295
335
212

179
181
176
211
138
288
180
231
2 Ok
253
317 .
166

222

229

191

235

#0
195
190
130
1U0
223
203
. 152
200 • 101
180
253
172
130
226 :
16U
207
185
128
233
252
187
l6ij
117
' 196

137

100Charge.-•account s a l e s
Apr,
Mar. ' Apr.
19L8p
19L8-: 1917
212
-: .201
179 • . 1 9 3
2 OU
235
201
219
201
223
\278
. 293
217
211
216 " 227
238
235
232
239
276
289
203
222
209

173
167
196
19L
191
259
186
19k
221
19k

2UU
196

. 223

192

Accounts Receivable and C o l l e c t i o n s , by F e d e r a l Reserve D i s t r i c t s
• ~~ F e d e r a l .
' Reserve
District

-:ev; York
Philadelphia
Cleveland
Richmond.
Atlanta
Chicago
S t . Louis
Minneapolis
Kansas City
Dallas
San Francisco
U. S. Total

Accounts o u t s t a n d i n g , e n d of month
Collection ratios*
Indexes; 19hl average = 100 .
Charge accounts
Charge accounts
Instalment
In:stalment
Apr. Mar. Apr. Apr. Liar. Apr. Apr. Mar. Apr. Apr. I.'ar. Apr.
19L8p 1918 1917 1918p' 19L8 1917 19L8p i9ae 19a? i 9 a a P i9aa 19a?

$
ica
112
151
179
21ii
129

120
112
1L8
115
101
165
101
131
137
169
198
130

132

129 .79,

•llii
113
119
1L8

82
81
80
95
71
89
60
77
95
80
88
7h

190
172
200
207"
171
193
188
211
205
18k
221
186 ,
191

185 182
171 152
207 170
20L 169
1731 160
19L 157
i s a ' 160
210 . 1 7 5
195 170
178 150
199 16L
186 160
, 189

163

21
26'.
21
23
25
2a
22
: 23
22
20
37
35
26
31
32
29"
27
25
• 2a19
.28-,
30
19 *
2h

25

' 27

21

2a

29
28

25,

a9

:52
=as
36,

' as
51
53
50
3"a

aa
• U5
56

5a
a5
a3
6a

ar
27
a 8 . 62 . 6a
37
53
•53
60
36- •'•:56
58
56
37
29: . 56 • 58
60
62 .
36

56
62
59
61
60

30

5a

. 52

53

p - preliminary.
• v - C o l l e c t i o n s during month as percentage of accounts r e c e i v a b l e a t beginning
' ' of month.
. 1Note.—These d a t a are based on r e p o r t s of about? hlS l a r g e department s t o r e s r e p o r t i n g s a l e s by type of t r a n s a c t i o n , more than hCO having charge accounts and about
3CO having i n s t a l m e n t "accounts. Back f i g u r e s may be obtained on r e q u e s t from the
. Division
of-Research and S t a t i s t i c s . . . .....
. . .