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BOARD Of GOVERNORS' OF THE FEDERAL RESERVE SYSTEIc

-•*

A p r i l U, X9h7

Gil7.j

DEPARTMENT STOEE CREDIT
FEBRUARY 19L7

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(

I n s t a l m e n t accounts o u t s t a n d i n g a t department s t o r e s . - a t t h e end of
February showed- l e s s than. t h e u s u a l , s e a s o n a l d e c l i n e and c o n t i n u e d c o n s i d e r a b l y
above t h e l e v e l - of a y e a r e a r l i e r . C o l l 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 d e c r e a s e d
S per c e n t , and the r a t i o of c o l l e c t i o n s d u r i n g t h e month t o a c c o u n t s o u t s t a n d i n g
on ihe f i r s t of t h e month was 28 p e r c e n t , . o n e p o i n t l e s s t h a n i n J a n u a r y . At
the c u r r e n t r a t e of repayment, i n s t a l m e n t a c c o u n t s would be o u t s t a n d i n g , on t h e
ave'rare;

about s i x months.

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,

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\

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Charge a c c o u n t s r e c e i v a b l e were r e d u c e d by about t h e u s u a l s e a s o n a l
'•
amount i n F e b r u a r y , and were more than o n e - h a l f l a r g e r t h a n a y e a r ago. The
February c o l l e c t i o n r a t i o on c h a r g e a c c o u n t s was"^1 per c e n t , as compared w i t h
S2 per c e n t i n the p r e c e d i n g month and 6 l per c e n t i n t h e c o r r e s p o n d i n g month of
19L6. The average c o l l e c t i o n p e r i o d f o r charge a c c o u n t s i n February was a p p r o x i m a t v l y 59 d a y s . .

.:

Cash s a l e s d e c l i n e d h per c e n t i n February and, f o r t h e f i r s t time i n
n e a r l y two y e a r s , were below the volume of a year ago. Charge-account s a l e s d e c r e a s e d s l i g h t l y , a l t h o u g h an i n c r e a s e i s u s u a l i n t h i s month, w h i l e i n s t a l m e n t
sr.lv.-s r o s e 3 per c e n t . Both t y p e s of c r e d i t s a l e s c o n t i n u e d above t h e i y e a r - a g o
levels.
Department S t o r e S a l e s , Accounts r e c e i v a b l e and C o l l e c t i o n s
P e r c e n t a g e " chi a n g e f r o m :
. J a n u a r y 19U7 F e b r u a r y 19.h&
- to
to
February 19ii7
February 19^7
Sal'-.r d L r i n g : : o n t h
Cash
Instalment
Charge a c c o u n t
Acc'.iunt.p r e c e i v a b l e ,

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.

- a
+ 3. .
- 1

.' - "
e n d of month

.

-

*

I - i r t a l m e n t accounts
Cnarge a c c o u n t s

. Tnstali'-ent ecceuncs
Charr> a c c o u n t s

-

- 6
+53
+13

- 1:
-12;

-

+71
+5L

- 5
-22

-

+39
-

'

of c o l l e c t i o n s d u r i n g month to accounts r e c e i v a b l e a t beginning of month
Feb.
1917

instalment accounts
Charge a c c o u n t s

28
SI

•

Fob.
19L6

Jhn.
19l>

;
;

29
52

.

> u . — : i g u r u s f o r February 19U? 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 .




32
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120
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95
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163
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133
298
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222
273
320

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100
171
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177
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In:
0,3.
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of
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120
130
75
99
100.
119
127
77
110
137
56 . 136
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193
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1936

1937

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tctr

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I n s t a l m e n t . ' j.3Ohn: r:c
yeu. 0c3.
OeO.
1936
19L7
193'
193 ir
. 1937?

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F e d e r a l Of-rez'vo

1936

22
19
2 5 . •' 25
23
29
30
33
25
27 . 30
36
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33
30
35
32
• 35
23
30
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35
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r.a'.i
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19L7r 1/57 1936
32
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53
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36
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59
55.
57
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60
60
63
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—
irch :nd C t ^ i - i s t i c c .