Full text of G.17 Department Store Credit : April 3, 1944
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BOARD OF GOVERNORS OF FEDERAL RESERVE SYSTEM ' A p r i l 3, 1944 • ' B3cS. dsc- - 17 iiEPARTMEi^ iSTb'RE O M I T ' " ' %RUARY'19%4 ' ' ' At department s t o r e s i n s t a l m e n t accounts o u t s t a n d i n g showed about the usual seasonal d e c l i n e in February, and continued a t about t h r e e - f o u r t h s of the year-ago l e v e l . C o l l e c t i o n s . o n i n s t a l m e n t accounts decreased 8 per c e n t , 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* 31 per c e n t . The average length of time i n s t a l m e n t accounts were o u t s t a n d i n g was approximately f i v e and one-half months, one-half month l e s s than i n February 1943. • Charge accounts receivable* d e c l i n e d by about the customary seasonal amount, and a t the end qf the month were 9 per cent below those on the c o r r e s ponding date l a s t y e a r . C o l l e c t i o n s on charge accounts decreased s h a r p l y , as • i s usual a t ' t h i s time of the y e a r , 'and the c o l l e c t i o n r a t i o was unchanged a t the January leye'l of. 61 per c e n t . Charge, accounts were .outstanding, ' on the average, n e a r l y 50 days i n February, approximately the same l e n g t h of time as i n the corresponding month l a s t y e a r . ' . . . . Chargp-accOunt s a l e s increased s l i g h t l y .from January t o February, but wore s u b s t a n t i a l l y below the l a r g e volume of s a l e s ' i n February 1943 t h a t ..was a t t r i b u t a b l e i n p a r t t o forward buying. Instalment, s a l e s were 19 per cent ..below the ..corresponding month of l a s t year . Cash s a l e s , Which accounted f o r about 62 per cent of the t o t a l i n February, remained a t the January l e v e l and showed l i t t l e change from a year ago. Department S t o r e S a l e s , Accounts Receivable and C o l l e c t i o n s / . S a l e s during month L ; Cash Instalment Charge account Accounts r e c e i v a b l e , end of month I n s t a l m e n t accounts Charge accounts C o l l e c t i o n s during month Instalment accounts' Charge, accounts . R a t i o of c o l l e c t i o n s during month "to r e c e i v a b l e s I n s t a l m e n t accounts Charge accounts Percentage .change' from: February 1943 January 1944 to to February 1944 February 1944 s + 1 -19 -15 o . + 8+ 6 >- 7 -13 -26 - 9• . -33 ' - 8 -25 7 :• . , • t beginning of month " February 1944 31 61 January 1944 - 30 61 February 1943 28 61 • ' DEFARTI/IENT STORES 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 F e d e r a l Reserve District Boston New York Philadelphia Cleveland' . RichmondAtlanta Chicago St.-Louis Minneapolis Kansas City. Dallas San F r a n c i s c o T J. 3; T o t a l Cash s a l e j an. Feb. 1944 1044 .119 110 154 134 137 213 137 144 147 205 260 185 rl22 113 134 136 133 182 rl28 146 150 rl84 231 183 . 141 140 Ind exes; 1941 average = 10,0 I n s t : :lment s,a l e s Charge—accourr s 3 l e s Feb. Feb. Jan. Feb. Feb. Feb. 1943 1943 1944 1944 1943 1944 1944 114 ' 109 136 142 142 158 147 • 146 151 .186 216 172 139 55 65 56 55 = 47 77 45 50 78 60 62 60 58 59 45 50 - 46 35 48 57 83 r55 69 60 57 53 - 66 66 61 69 64 64 . 76 73 91 85 64 80 77 68 85 80 80 102 83 00 82 90 113 89 77 60 r79 77 03 97 r?8 02 81 . r85 97 83 70 84 7? 84 82 95 98 101 108 101 106 96 111 135 104 98 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 Accounts o u t s t a n d i n g , end of month Collection r a t i o s * I n d e x e s ; 1941 average = 100 Charge accounts IJ istalm:3nt I:nstr-.L; :ent Charg* ac<counts Feb. Fob. J a n . Fob. Fa b. J a n . Feb. Feb. J a n . Feb. Feb. 1944 1944 1943- 19W 1944 1943 .1944 1944 1943 1944 1944 1043 Boston Nei? York . ' Philadelphia . Cleveland Richmond Atlanta Chicago S t . Louis Minneapolis Kansas City. DallasSen F r a n c i s c o 36 52 - 40 30 45 44 35 56 44 45 34 35 _U. S. T o t a l 41 39 52 54 • 61 • 51 - 42 40 • 51 5y 49 4950 39 54 57 41 40 50 61 1-46 37 49 ?9/ 56 44 55 77 92 - 87 78 71 02 74. 70 66 77 59 60 70 73 00 00 03 00 7973 . 83 75 01 81 69 63 r7001 70 r79 85 77 r02 79 60 . rC'-.l 72 . 02 79 27 28 25 W . 24 25 29. 27 . 35 30 iZ £5 21 26 27 . 1-5 2% 56 3? 36 55 . 31 55 55 50 r39: 51 39 r55 53 30 27 35 33 29 .51 30 20 53 • 51 53 51 61 5.': 60 • 62 53 53 52 54 57 68 67 64 r73 ' 73 64 r69 63 65 66 r67 61 61 • 53 51 62 63 . 50 57 70 63 77 63 64 64 61 •r~- Revised. - C o l l e c t i o n s d u r i n g month os per cent of accounts a t beginning of month. Note: These dat-i a r e k e s f d on r e p o r t s of about 47fj 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 t h a n 400 having charge e c c o u n t s and about 300 having 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 obtained o n ' r e c u e s t • • from t h e D i v i s i o n of Research and S t a t i s t i c s .