Full text of G.17 Department Store Credit : November 4, 1946

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B88A8Y OF THE m

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/ / j BOARD OF GOVElU.OkS Or T'fE" FEDE&.i,\kE8E%VE SYSTEKRESERVE BANK OF CLEVELAND
.November 4 , 1946

.17.3
DEPA'RTLBKT ' STORE CREDIT;'
•

SEPTEMBER- -194(3

...

...

I n s t a l m e n t a c c o u n t s r e c e i v a b l e a t ' d e p a r t m e n t s t o r e s showed a b o u t t h e :
u s u a l r i s e i n September,'-and - c o n t i n u e d w e l l above "the level" of - a y e a r e a r l i e r ,
Coll e c t i o n s on i n s t a l m e n t a c c o u n t s i n c r e a s e d s l i g h t l y , b u t t h e c o l l e c t i o n r a t i o dropped
one p o i n t t o 34 per c e n t . I n s t a l m e n t ' a'ccounts .were . . o u t s t a n d i n g , ^ n t h e a v e r a g e a
n e a r l y f i v e m o n t h s , a b o u t t h e same l e n g t h of t i m e as- i n September l a s t y e a r , / ;
Charge a c c o u n t s o u t s t a n d i n g i n c r e a s e d s u b s t a n t i a l l y , ; a s i s c u s t o m a r y i n
S e p t e m b e r , and were 70 p e r cent l a r g e r t h a n a y e a r a g o , C o l l e i c t i o n s on c h a r g e
a c c o u n t s showed l i t t l e change from t h e l e v e l of t h e p r e c e d i n g month, r e s u l t i n g i n - '
a c o l l e c t i o n r a t i o of 56 p e r c e n t , t h r e e points- b e l o w t h a t f o r i A u g u s t ,
Charge a c c o u n t s were c o l l e c t e d i n a b o u t 54 d a y s , a somewhat l o n g e r peri.od . t h a n i n
.,
September 1945.
' .
'
Both cash and i n s t a l m e n t s a l e s d e c l i n e d s l i g h t l y i n S e p t e m b e r , . a l t h o u g h
a r i s e i s u s u a l , w h i l e c h a r g e - a c c o u n t s a l e s showed l e s s t h a n t h e c u s t o m a r y s e a s o n a l
expansion.
Cash s a l e s accounted" f o r o n l y 58 p e r c e n t of t h e t o t a l , a s.omewhat
s m a l l e r p r o p o r t i o n t h a n i n any month s i n c e F e b r u a r y 1943; n e v e r t h e l e s s ' , ' s a l e s ' o f '
t h i s t y p e were u'p-13— p e r c e n t f r o m September 1 9 4 5 , The volume"-of b o t h - c h a r g e •••
a c c o u n t and i n s t a l m e n t s a l e s was more t h a n o n e - h a l f l a r g e r t h a n i n , S e p t e m b e r a
year ago,
'
' .
'
"
'
.

.

• Department S t o r e Sale's, Accounts R e c e i v a b l e and C o l l e c t i o n s

'

.

.

.

.

.

. . .

S a l e s d u r i n g month
Cash
Instalment
Charge a c c o u n t '

.

:

- 2
- 1
+ 9
|

'
' •
'

: •' + 5
• +14

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,

P e r c e n t a g e - change f r o m ;
August . 194:6. September 1945
-to
to
September 1946 September 1946

.

'

A c c o u n t s r e c e i v a b l e , e n d of month '
Instalment accounts
'
Charge a c c o u n t s
C o l l e c t i o n s d u r i n g month
Instalment accounts
Charge a c c o u n t s '

.

-

.

'

+ 3
0

.

'

:

+56
+70

:

+44
':-+48.

•
:

.

+13
+55
+53

R a t i o of c o l l e c t i o n s d u r i n g month . t o a c c o u n t s R e c e i v a b l e a t b e g i n n i n g %bf month
Aug, '
1946
.

Sept#
1946
Instalment accounts
Charge a c c o u n t s .
l \ o tfor
e : FRASER
F i g u r e s f o r September
Digitized


34
56

-

35 59

.

1946 a r e p r e l i m i n a r y and s u b j e c t t o - r e v i s i o n .

Sept.
1945.
36
63

UIRARY
Cash and Cred
Nw

5

s a l e s , b v - F e d e r a l Reserve D i s t r i c t s

I a>PH'ff

' M i m m e w vr*Ad% l e s .
N*ug. | S e p t .
| 19^6p
1946
. '
1945205
191
230
1 202
222 '
|
313
C 236

Boston
lev; York .
Pr.ilacelphia
-lev^land

1
•Minneapolis
Kansas' City
|
Dalles
6ah F r a n c i s c o

206
325"
245
260
263
329
364
280

309
315
371
26-=
" 225

. u. S. D o t a l

i.ccounts

202

!
!

49
41
50 ' |
J 51 j
43 ,

S t . Louis,

53
65
60 |

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, U. S. T o t a l

. . 89
100
• 95
93
96
BP
, SO
110
69
90
112
101
90
92
117
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153 \
124
109
122
153 1 136
• 94
~ 95

97

73
63'
55
65 •
68
52
72
13
66
99
64

130
169
152
129
130
ICR'
177
169
186
LJ63
199
204
165
1B.0
.182
197
157
204
160
183
270 '
235
186
163

111
101
111
117
123
127
115
125
130
123
172
117

63

179 '

164

117

. «

99

R e c e i v a b l e end C o l l e c t i o n s , b y F e d e r a l R e s e r v e D i s t r i c t s

58

Dallas

173
167
19 o
193
205
. 292'
196
216
244
284
361
245

Charre-- a c c o u n t s a l e s •
Sept.
Sept.
*
1946
19,5
194 6 p

.Accounts o u t s t a n d i n g ,
end of month
Coll-cction r a t i o s *
Indexes;
1941' a v e r a g e = 100
I n ; ntalmont
Charge a c c o u n t s
In; s t a l m e n t
Char,go account."
Sept--,- Aug. S e p t , S e p t . Aug. S e p t . S e p t . Aug. S e p t . S e p t . Aug. |SOpt;
19460 1946 1945 1946p 1946 1945 194 6 p 1946 1945 194 6P 1 9 4 6 . | l b 4 [

reserve
District
Boston
• Kc-w York
Philadelphia
Cleveland •
Richmond

177
197
199.

xes;
1941 a v e r a g e
Instalment :
1 Sept,
Sept,
1946p
1946 | 1945

|

r;

60

1

!

42

34
37
30
31
38
41
25
30
36
35
38
28

151...
135
130
146"
132
154.
153
154
142 '
134
157
154 -

.126
116
111
134
117
134
135
.134
IIS
115
134
138

89
77
84
68
• 81
92

100
' 79

23
24
'30" "27
36
35
.51
56
29
29.
31
35
41
41
38
>2
43
58
41
31
32
42

32

145 | 127

55

34 | 35

"1

91
56

42
32
40

. 47
46 58 j
52
' 50
. 48 ".
63
65
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• 65
62
59

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35
35
34
29
30
51
±1

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56
51
. 55
47
62
60.
50
61
5C
54
49
^50
66
73
66
77
71
73
72
63
CI
6-r
70
59

63.

i

oi
o =• " r i n g month a s p e r c e n t a g e o f a c c o u n t s r e c e i v a b l e ' a t b e g i n n i n g ofmontn/
f
re b a s e d on r e p o r t s of a b o u t 475 l a r g e . d e p a r t m e n t s t o r e s r c p o r t v t y p e of t r a n s a c t i o n , more t h a n 4 00 h a v i n g c h a r g e a c c o u n t s and
-vir.g i n s t a l m e n t a c c o u n t s . Back f i g u r e s may be o b t a i n e d on r u Musst i-rem t h e D i v i s i o n of R e s e a r c h and S t a t i s t ! c r - ,