Full text of G.17 Department Store Credit : March 8, 1949
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BOARD OF GOVERNORS OF THE- FEDERAL RESERVE SYSTEL March 8 , I9h9 G.17.3 • - DEPARTMENT STORE'CREDIT . . ; : f" JANUARY 1 9 l 9 ' ' ' ' ' i . = • Instalment..accounts outstanding'at'department-..store.s .showed afiout' 'the*' customary seasonal d e c l i n e i n .January^ b u t 'stood 2-8 per cent above the l e v e l • of a year a g o T h e volume of c o l l e c t i o n s on i n s t a l m e n t accounts- was unchanged, but the r a t i o of January c o l l e c t i o n s ' to''aeouurits•••outstanding :on t h e f i r s t of "the month, dropped t h r e e p o i n t s t o 22 per c e n t . At t h i s r a t e of repayment" i n s t a l m e n t accounts v:ould be outstanding about e i g h t months. Charge accounts r e c e i v a b l e r/ere reduced by about t h e u s u a l seasonal amount, and continued above l a s t y e a r ' s , l e v e l . , C o l l e c t i o n s on charge accounts shov/ed t h e customarily s u b s t a n t i a l gain i n January, and amounted to 52 p e r cent of accounts o u t s t a n d i n g on the f i r s t of the month a;s compared v/ith 53. percent i n December. The average ..repayment p e r i o d f o r charge accounts o u t s t a n d ing in January v:as approximately 58 days. . Both' cash and c r e d i t s a l e s shov/ed - about- the same sharp r a t e s of. d e c l i n e i n January as occurred i n the corresponding month of- 19 W . Cash and i n s t a l m e n t s a l e s f e l l L per cent below t h e volume of a year e a r l i e r , but charge-account s a l e s , oh the -other hand, were up, h per c e n t . - - .. Department S t o r e S a l e s , Accounts Receivable and Collections' " - " ' .'Item " S a l e s during month Cash Instalment Charge account , :^55 : - -51 -51t ; Accounts r e c e i v a b l e , end of month Insta lm e n t accounts Charge.accounts . , C o l l e c t i o n s during month Insta lme n t accounts Charge accounts Percentage 1change from: .. Dec.-';19lt8 J a n . I9U8 . to . toJ a A . 1 . 9 W "Jan.- 19ii9 •• \ : rU h *:h - . +28 + 7 ' - 7 -22 *. ; 0 +21 - , +22 + 5 V'VV . R a t i o of c o l l e c t i o n s ' during month to accounts, r e c e i v a b l e a t beginning "of month Jan. ' "Dec. Jan. 19JU9 19248 19h8 I n s t a l m e n t accounts Charge accounts • 22 -52 . 25' 53 Note.—Figures f o r January 19h9 a r e p r e l i m i n a r y and s u b j e c t to r e v i s i o n . 2h 53 0.17.2 , ' " • -2- ' DEPARTI.aiT Si'ORLS - JAliUAl:! 1919 Cash and C r e d i t S a l e s , by F e d e r a l Reserve D i s t r i c t s Indexes; 19U1 average = Cash s a l 2S I n s t a l m e n t ,sales Jan. Dec. Jan. i-'ec. Jan. Jan. 19L3. 19L8 19W 19L9P 19L9P : .19L3 reaerax. . _sunc Do:ton NezDcrk Thiladolchia Cleveland ' / icrv one Atlanta Chica.-o T : . Zo'.is :..inneapolis Kansas City Dallas San F r a n c i s c o S. "Total 158 171 171 -131 " 191 ' .237 136 •175 2 ID 2C5 .227 207 111 37b W5 395 q05 535 397 390 |1 153 513 '520 127 151 107 | 158 . 151. 18D Iii3 179 123 173 1# 108 l6h 152 235 122 195 115 1U2 226 171 2L.S 131 26a ' 197 217 12% 279 323 31L 275 232 3li2 2U6 332 235 250' 331. 235 109 261 13% 1U2 150 137 i# 166 131 172 152102 152 172 191 128 172 161;. . 1 6 0 173 207 176 . 177 25< 220 • 112 191 Boston Dew York Philadelphia Clovaland Atlanta 7nica-o S t . Lov.is . L.inneapolis I'ancas C i t y Dallas San F r a n c i s c o U. S. T o t a l . 351 330 385 373 * -355 Ll3 36b 317 359: 333 .1:56 397 171 112 Accounts r e c e i v a b l e and Collections-, by _ Federal •federal Reserve District IOCCharge-account s a l e s Dec. Jan. Jan. 19h3 . 19W 19L9P 370 ' 1U. 118 161 . 157 150 178 167 163 199 181 222 132 I6!i , Reserve D i s t r i c t s Accounts o u t s t a n d : n ' , e n d of montl. C o l l e c t i o n ratios-x. _noe:-:es: 19L. average = 100 .instalment „harge accounts .Instalment Charge accounts Doc. | Jar.. J a n . Dec. J a n . J a n . Dec. J a n . J a n . Deb. J a n . 19L9o 191.8 119Ld ' 1 9 ^ P 19u8 19L3 I?a9n 19L3 19':8 19L9o 19L8, 19L8 156 1L0 177 169 133 211 12li i::6 151 203 231 166 155 151 19L 2C9 l':9 235 132 196 161 216 273 171 163 176 22 13 . L5 ' 131 - 202 -- 262 2<)b.' -••••19 h9 ill 202 22 2h. 22 50 250 191 h3 13V 220 21 ' • 21215 19 ' 53 313 a3 22L 21 iai 292 215T. •20- 22 52 53102 203 25': 199 ' 17 19. 1-3 33 39 20 . 36 Id 15 u 221 275 -19L 17 38 60 212 283 -196 101 63 38 • i d . 37 120 21 • 2b ' - 28 • 51 ' 53 250. 31a 232 Ilia 220 26- 25" -:30 271 209 . 57 -60 1-1 216 ' 22- •25 270 19a 2r5 57 53 132 ' 223 ' 2 35 205 61 21 57 21 19 127 2J3 209. 27' 29 , 59- 63 233 29 127 21; 231 '205 . 22 , 25- 21 •52 53 li5 h6 55 52 U$ 33 62 52 56 56 53 61 53 - p - preliminary. • - 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. NOTL.—These -data are based on r e p o r t s of about 1l75 l a r g e 'departn.ent 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 1;00 having charge accounts and about 3Q0 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 fro:., the D i v i s i o n .of 1 e s e a r c h and " S t a t i s t i c s . •. ........