View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

BOARD OF GOVERNORS OF iHE FEDERAL RESERVE SYSTEM
G.17.3

April 6,-1950
DEPARTI.J2IT STORE CREDIT - FEBRUARY 1950

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 of department s t o r e s were.down 1 p e r
c e n t i n F e b r u a r y , a month of customary s e a s o n a l c o n t r a c t i o n . At t h e month-end .
o u t s t a n d i n g i n s t a l m e n t i n d e b t e d n e s s was a b o u t o n e - t h i r d l a r g e r t h a n on t h e
c o r r e s p o n d i n g d a t e of 19h9* 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 were li p e r c e n t •
s m a l l e r i n F e b r u a r y than i n t h e p r e c e d i n g month and, when r e l a t e d -to f i r s t - o f month a c c o u n t s o u t s t a n d i n g , gave a - c o l l e c t i o n r a t i o of 17 p e r c e n t f o r F e b r u a r y ,
one p o i n t below t h e J a n u a r y r a t i o . - The c u r r e n t r a t e of repayment of i n s t a l m e n t
i n d e b t e d n e s s .at d e p a r t m e n t s t o r e s I s c o n s i d e r a b l y slower than, a- y e a r e a r l i e r .
Charge a c c o u n t s o u t s t a n d i n g showed a f u r t h e r s u b s t a n t i a l s e a s o n a l
r e d u c t i o n i n F e b r u a r y and a t t h e month-end were o n l y s l i g h t l y above t h e 191+9
l e v e l . C o l l e c t i o n s on c h a r g e - a c c o u n t s were a b o u t o n e - f o u r t h s m a l l e r than i n
J a n u a r y b u t a b o u t 3 p e r c e n t l a r g e r t h a n i n F e b r u a r y l a s t y e a r . These a c c o u n t s
•were b e i n g c o l l e c t e d , on t h e a v e r a g e , i n 63 days i n F e b r u a r y , a b o u t 2 days'
l o n g e r t h a n was r e q u i r e d i n t h e c o r r e s p o n d i n g month of 19h9.
F e b r u a r y d e c l i n e s , i n cash and c h a r g e - a c c o u n t s a l e s of department
s t o r e s were o n l y p a r t i a l l y o f f s e t by t h e i n c r e a s e i n i n s t a l m e n t t r a n s a c t i o n s . :
The F e b r u a r y s a l e s volume r e p a y a b l e i n i n s t a l m e n t s was about t w o - f i f t h s l a r g e r
t h a n i n t h e c o r r e s p o n d i n g month l a s t y e a r . Charge-account and cash s a l e s were
[ p e r c e n t and 10 p e r c e n t , r e s p e c t i v e l y , - . . b e l o w y e a r - a g o l e v e l s .
>

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 change f r o m :
J a n . 1950
' Feb. 19h9
to,
to
Feb. 1950
Feb. .1950

Item

S a l e s d u r i n g month
Cash
Instalment
Charge a c c o u n t

- 6 •
+ 5
- 6

-10
+U0
- U

Accounts r e c e i v a b l e , end of month
Instalment accounts
Charge a c c o u n t s

- 1
-lU

+32
+ 2

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

- ii
-2ii

+15
+ 3

•

.

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 of month: ;
•Feb.
Jan.
Feb. '
1950
1950
19k?Instalment accounts
17
18
21
Charge a c c o u n t s
1>7
b9
U9
M in,.—Figures f o r F e b r u a r y 1950 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 .
O




z & R u - o z : : s t o k e s - "KJRUAKX 0950'
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 .
r ecera±
i ' f s 5 * ) ^.

Ca

Feb.
.1950r

I n d e x e s : 1911 average = ICO
Charce-account sales
sh s a l e s
I n s t a Indent s a l e s
Feb.
reb.
Feb.
Feb,
J an.
-Feb.
195Cp
1950
1!#6
1919
1919
i95o
1950r
1919

F-as%an
Fa'" 1'crk

135
137

. 153

^Philadelphia

Cleveland

1L7

150

113

Fichncnd

111
515

155
112

..%lah:a
Chicago

151 '

155

152
15L
.

172
158

229

163

161
195

Finnearclis .
Fa'.isas C i t y

203

153

.

160

172
181

1

213 '
165.
135
221
' 139
2.5L'

275

133

177

135

112

118

191

156

125
222

159

218
233

111

180
109
163

• -113

220
196

130
123
158
116
165
193

153

.

15a
161

• 111
158
162
152
179
165
15.5

1U1
133

150.
165
176

200
162

163
169

159

197

20L

202

199

172

150

179

173

157

213

213

F-% F r a r . c - s c c

221\
226

193

: a l i a s

165

319

339

203

218

178

173-'

115

113

. 107

• 213
167

187

221
166

16S

16k

17 h

131

161

162

2CG

F . F. F : : a l ,

.

.162 I

132

•

159

1#

:.cc:iin:s r . e a e i v a h l e and C o l l e c t i o n s , by F e d e r a l R e s e r v e d i s t r i c t s

\ j-esez ve
. lis*riot

i

j • 6u-.

-1: rh
Failaaelahia
^lavelaad

13 5

la

F-::-

|

16

17

IS

11

11

11

15
11

11

16

15
16

13

203

13

13

51

18

'191

13

51

-19'

175

16

21

205

17
17

.17

176

19

2.01.

228'

191
151.

11
20

15
21

19
26

12
11

12
11

12

220

18

19

22

51
13

59
.52

13

23

|

'70

131

hi

220
115

179
235

210
"272

:

F. F. . Fatal j

1

171

1919

172

|

187

1950

.168

208

210

'

1950")

1919

215
217 -

175
• 173

167

" 1
" - '
,

-950

213
208

136

-

i an.
1 _r5C

1

_:.:le 'I.a
Ir.icagc
: .' Z.a^iz
Finnaaaalis
.Fencac City
lall-aFar. F r a n c i s c o

" Laer.t
Charre-accaar.t
Feb. r e b . J a n . Feb.

I

ir.staL r eb. ! ,jar.

153 •

.

1.6

h2
53

11.5

iyi.

. 213

179

1

- U

190

-193.

133

20

21
21

;
.
.17

1 :69
'
20

212

193

229

.193

11

15

23
20

157

201

211

191

18

19

22

18

17

51

207

j 209

157

190

222

157

•17

15

21

17

19

19

1

'

' 196

21.

.

21

19
52
19

51

51

51
50

19

52

cS p e r c e n t a g e
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 of
been r e v i c e d J or r e c e n t , months. '
r e p o r t s of a b a u t 175 l a r g e d e p a r t m e n t s t o r e s r e p o r t r e ^ . c t i o n , mere t h a n aO) h a v i n g " c h a r g e a c c o u n t s and about
nts^.' back f i b r e s nay be o b t a i n e d on r e q u e s t from
n
d Statistics.