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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM: A p r i l 7 , 19^9 G.17.;2 R e t a i l Instalment c r e d i t ' " a t F u r n i t u r e , Household Appliance, and Jewelry"Stores . FEBRUARY 19h9 I n s t a l m e n t accounts o u t s t a n d i n g a t f u r n i t u r e and jewelrys t o r e s declined, s e a s o n a l l y i n February, but a t a somewhat more r a p i d r a t e than occurred i n the corresponding month of lplt8. Household" appliance s t o r e accounts r e c e i v a b l e were a l s o reduced, but were JUU per cent l a r g e r than a year e a r l i e r . Balances at; f u r n i t u r e and j e w e l r y s t o r e s , however, continued to show much, smaller gains over the l e v e l s of the preceding y e a r . . . ... . The February c o l l e c t i o n r a t i o s on i n s t a l m e n t accounts of f u r n i t u r e and household a p p l i a n c e s t o r e s d e c l i n e d one point, to 1$ p e r c e n t and 28 per c e n t ^ r e s p e c t i v e l y . At jewelry s t o r e s the r a t i o of 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 the f i r s t of the month was unchanged a t 17 perc e n t . - Instalment accounts f o r the. t h r e e kinds of b u s i n e s s were r e p a i d somewhat more slowly-than i n - t h e corresponding month of 191*8. I n s t a l m e n t Accounts O u t s t a n d i n g and C o l l e c t i o n R a t i o s ;.:onth - Accounts o u t s t a n d i n g a t end of month December 31, 1939 = 100 Household ! Furniture Jewelry appliance ! stores stores stores C o l l e c t i o n r a t i o s z1/' Furniture stores Household appliance stores Jev-elry stores bl bl bb hb bb b$ bl 39 39. bo • . 39 39 26 25 27 " 25 26 2b 23 23 . 25 23 2b 31 19L7 . January February i:arch ' April -L:ay' • ' June 63 62 .63 .65—68 70 71 • 73 .75 . 79 81 9b 1 August 'September 'October November December ' • 10 10 10 11 .11 13 lb 15 . 15 16 17 19 116 110 108 111 116 122 123 127 132 135 1U8. 197 23 21 25 23 2b 23 22 22 2b 23 23 20 . ' • 191:8.January : February Uarch April Lay June July" August September OctoberNovember December - "89 87 83 91 9b. 96 97 100 10L ioa 10$ 112 - 18 18 19 21 23 2b 25 27 . 23 29 29 29 180. 173 169 16k 165 • 166 • . 161+ 162 165 16L 169 - 223 . 18 17 19 19 . 19 20 18 18 17 18 18 17 - 36 32 35 .33 *:3k 33 3b • 33 32 31 30 29 19L9 January • F ebruary p . 19 18 19 19 19 19 19 . 19 19 19 20 2b • T 1# 102 - 27 26 206 189 16 15 p - preliminary. 1 / I n s t a l m e n t c o l l e c t i o n s during month a s p e r c e n t a g e of b e g i n n i n g of month. 29 28 17 17. lccounts outstanding a t
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