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I

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYS'
G.17.3 :
'' DEPARTiMT- STORE CREDi-1?- —
'

FEBRUARY 1 9 U 8 •' -

•"

- Instalment. anco.unts outstanding. (at. department stores showed about the
customary d e c base-in February,' but .continued considerably larger than a year
'.r
• ago.- Collections on instalment a;ccounts y/ere in somewhat efiialler volume'than
in January,: and .represented 2 3 per 'cent ,| anb-talm^nt. . a c c c u t . receivable on
.
of
.'..in^
February first, one percentage pcp.nt below the January ratio. The average repayment period for instalment accounts' outs-tandihg in February was approximately
seven and one-half months
Charge accounts receivable were' reduced 12 p - cebt, about the usUal"
er
rate of decline for February* Collections on charge accoutres, which genet*ally
. show a sharp decrease in February, were 28 per cent less than in the preceding
month; they amounted to U9, per' cqnt of charge accounts outstanding at the'.
beginning of the- month.- At - the prevailing rate of repayment, dharge accounts ;
would be outstanding about 61"'days.
%
v
L
There was little change from January to February in the volume of •
instalment and' 'dharge-'accquiit' -sales. -Cash transactions- declined moderately
but continued near the yeir-ago level. Sales of"this type accounted for 53
per ;cent of the' total business. • In:comparison With 'the corresponding month -of
19ht, the. .expansion in instalment;.and. charge-account .sales amounted .to 32 per ..
.
cent and 12 per cent, respectively.
. Department Store Sales, Accounts Receivable and. .Collections
.

. .

Pgr.ceii^ge. changd, from:
January. liSkB. February 19U7
r
^.o
jt
to •
'
'
February 19U.8 February 19^8
'Sales during month
Cash
Instalment
Charge account ' "
"

-

• .
: v'
.

: l .

Accounts receivable, end of mpnih*
Instalment' accounts'
< ,l;
Charge accounts
' '
Collections during month
instalment accounts
' 'Charge accounts

- :3ir.
+2:
3^.
+12

- 6

+69
+17

' -12

; •

+39

-28

'+11

Ratio of collections during month-to accounts receivablejat beginning of-month
t
Jan. • .: ' -Feb i
Feb.
". 9 4 8 '
19U8 : •.. 1 1 - :• - M l
Instalment 'accounts
Charge accounts -

• %9 '- •

2k .
.53

-

29 •
52

Note*—Figures
1
 for February-19 £ 8 are preliminary and subject to revision.


121
G.17.3

-2-

#

DEPARTMENT STORES - FEBRUARY 1918
Cash and Credit Sales, by Federal Reserve Districts
Indexes; -19U1 average =
. i ederal ?. . . - Cash sales
: Instalment sales .
;
. Reserve .
" .Feb,.
Jan. Feb. .Feb. ' Jan. Feb.
"District
1l8
19li7
- 19h8p 1918
1917 • 9 i p 1918
Boston-:
New .York .
Philadelphia
Cleveland Richmond .
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
DallasSan Francisco

l5l
165
165
168
1-61.
2W
182
176
209
228
239
198
177

U. S. Total

1#
180
178
173
16U
19U
196
182.
232
2L6
261
212
188

111
132 , 1L2
163 . 13L
137
166
13U.
132
152
163
175
102
1#
105
. 98
.
-2W
253
186
127 • 131
186
16k
159
166
202
156
176
2ll
i
181
201
-261
255
211
115135
r/9

• liiU

•

100
..Charge-account sales
.Feb.
Jan. Feb.
-19ii8p 19U8
19U7 .

1
120 - 137
102 ; 136
157
91
130
159
'78
172
167
183
165
. 98
120 . 165130
171
182
.139
160
221
,100 .17.0

Iho • 109

162

120
lhl
120
1U8
162- . 135
112
157
i5l
150
162
155
166.
Ihh
163
i5i
197
157
181
157
222
210
180
161
.163

116

Accounts Receivable and Collections, by Federal Reserve Districts
Accounts outstanding,end ofmcnth
Collection ratios*
Indexes; 19Ul average = 100
Charg<3 accounts
Instalment
Instalment
Charn;, accounts
3
Feb. Feb.
Feb.
Feb. Jan. Feb. Feb. Jan. Feb". Feb.
19L8p 1918 19L7 19l8p 1918. 19L7 19L3p 19W 19L7 19ii8p 19L8 19k7

Federal
Reserve •
District .
Boston
"
Nev: York
Philadelphia Cleveland
Richmond
Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
S?n Francisco
U.S. Total -

1

122 131
111
109
138
139
1U0 lhh\
100
102
15U
15L
100 lOh
120
115
135 j 151
165 162
162
182
126
127
121

127

"'170
| 77
; 75 172
71 186
8U 192
69 180
87 177
.59 175
: 72 203
89 188
81 168
86 171
63 183
73 180

"200
19h
220
215
199
19h
196
232
223
19k
2€6
209

12
19
167 " 18 18
22 •2k
22
iU
i
116
20
21
27
, h9
118
21
22
27. • 18:
159
20 18
25 • hZ
151
20 26
38
19
1U7
ko
32
57
.117
37
28
U8
27
155
33
28
1U6
32
29
53
23,7 25
52
lhl
3h
18 ^ 21 27
56
156
/ 29 36
2/
167
55:

15
U6
55
52
US
38
62
52
53
56
58
61

12
Wi
51
51
U612
*
59
56
59
59
60
55

2i
i

53

52

206 151

23

29

"19

p - Preliminary.
,
• - - Collections during montir as-percentage of accounts'receivab] e at beginning of
;
>
month.
Note.—These data are based on reports of about h75 large department stores reporting sales by type of transaction, more than bOO having charge accounts and about 200 having instalment accounts.. Back figures may be
obtained on request from the Division of Research and Statistics.