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' OF.THE FEDERAL
BOARD OF GOVERNORS'-OF'THE FEDERAL RESERVE S Ys t i S F
.
RESERVE BANK OF CLEVELAND
RY (

0.17. 3

'

; .-

: -.

-

. '

A p r i l 7, 19L9

DgPARTMJSNT. STORE CREDIT
-

-

. -> "•

pmiuAy

. I n s t a l m e n t a c c o u n t s o u t s t a n d i n g - a f ; department s t o r e s r e g i s t e r e d
a s m a l l d e c l i n e i n F e b r u a r y , when some d e c l i n e i s customary* ..but' c o n t i n u e d
s u b s t a n t i a l l y above t h e y e a r - a g o l e v e l . Although 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 dropped 8 p e r c e n t d u r i n g t h e month, t h e y : a g a i n amounted t o 22 p e r
;Cent of a c c o u n t s o u t s t a n d i n g on t h e f i r s t of. the mpnth. I n s t a l m e n t , a c c o u n t s
c o n t i n u e d t o be l i q u i d a t e d i n a p p r o x i m a t e l y - : e i g h t months. . . Charge a c c o u n t s r e c e i v a b l e d e c l i n e d somewhat rfiort? s h a r p l y 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 , ' b u t t h e b a l a n c e s a t t h e .end of t h e month
were s l i g h t l y l a r g e r t h a n a y e a r ' e a r l i e r . C o l l e c t i o n s on dharge accounts^ :
were dovm s u b s t a n t i a l l y i n F e b r u a r y , 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 50
p e r c e n t as compared w i t h 5 2 - p e r c e n t a month ago. At t h e p r e v a i l i n g r a t e
of repayment, charge a c c o u n t s would be o u t s t a n d i n g about 60 d a y s .
Cash s a l e s showed about t h e same r a t e of d e c r e a s e i n F e b r u a r y as
i n t h e p r e c e d i n g y e a r , b u t t h e d e c l i n e i n charge a c c o u n t s was somewhat
l a r g e r than i n t h e same month l a s t . y e a r . I n s t a l m e n t t r a n s a c t i o n s were •
down s l i g h t l y i n F e b r u a r y , c o n t r a r y t o t h e movement of. t h i s type of s a l e i n
r e c e n t y e a r s . Both cash"and i n s t a l m e n t s a l e s showed s m a l l d e c r e a s e s from
t h e y e a r - a g o volume. C h a r g e - a c c o u n t s a l e s were unchanged from t h e F e b r u a r y
19US l e v e l .
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

.

. . -Item.

. P e r c e n t a g e change f r o m :
Feb; 19U8
Jan. 19U9
to
to
Feb. 19U9
-Feb. 19L9

. .

Sales- d u r i n g month !
Cash'
Instalment
Charge a c c o u n t

. - • .
'
^
'

-

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
C o l l e c t i o n s during, moijth , . . Instalment accounts
. Charge a c c o u n t s -

-'

-7
•

., ;

.

-5

- 5
f:
- 6
! - • -. 0
..

-U-15
-8
./-25

;
-; ,

'

.

' ' f 27 f
- 4- U
+22
+8

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 accounts" 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. .
19l9
.19L9 .
19L8
Instalment accounts
Charge a c c o u n t s

Digitized for tFRASERe s f o r F e b r u a r y
No e.—Figur


22

50

22
52

19U9 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 .

•23
h9

•

0.17.3

'

^
APR

k

-2-

^ 3 5 ^ b E & T : . S : T STORES - FEBRUARY 19l*9

. -' -DEi" tksh* '^ict .Credit S a l e s , by Federal Reserve D i s t r i c t s '
Co'"-" ^
-VO
Boston
I:e-.Y York
Philadelphia
Cleveland
Richmond "
"Atlanta
Chicago
S t . Louis
Minneapolis
Kansas C i t y
Dallas
San Franc: sco
r . S. Dotal

ln<Sexes: :191*1 average = 100
s a l BS
Charge-account s a l e s
I n s t , al:-ent s a l e s
Feb. . Feb.
Jan.
Feb.
Jan.
Feb.
Feb.
Jan.

c ash

Feb.
19l*9p

191*9

19L8

152
152
151
172
158
233

171
171
172
181

•151

172
131

158
237
186
175

197
222
223
173
168

19l*9p

191*9

-19L8

133

162
1L3
122
152
108

131
131*

liil
133

. 13k
175
105

119
165
176
199
162
168
169
187
22k

165
167
168

• 135

161

ill
161
111*
163

118156

206
231
200

21*0
181
176
206
228'
21*1
193

131
120

182

177

152

133

21k

171*
125

122
il*5
171
133
197

159
152

155
172

181

1949P

1919

161

1918

137 '

136
152
156
165
1 7 2 ' " 159

152

172

191

199

160
207

172

220

180
221

172
173

161*
165

201
131

138

161*

187

167

111

132

162

171

162

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

Boston
r e v York
Philadelphia
Cleveland
Richmond
Atlanta
.Chicago ,
. S t . Louis
Dinneaptilis
Kansas C i t y
Dallas.
San Francisco
I". S. Total

136
136
167
187

131
220
115

171
lu5
190
2L3

156

lliO
-177
189
133
211
121
186

151

122
109
138
110

!!

1 9 h 9 p 19L9 192*5

•3 .1

Accounts outsta:
month
C o l l e c t i o n ratios-::ICO
Indexes; 19l*:
In:' t a l r : ent
Charg, acc,ounts
In:stain, ent
"harp accnrnts
Feb. Jan. Feb. Feb. J a n . Feb. Feb. Jan, Feb- Feb. J a n . Feb.
1!

'Federal
Reserve
•.District

19L9P 191*9 191*1

126

220
135
188
198
19k

202 1 7 0
17
202 1 7 2
20
13
21,5 : 8 6
221* 192,
22
13
203 1 8 0
18
227 177
212 175
36
22
250 203
2 2 0 " 177
21*
216 1 6 9
22
221* 185 • 21
.21*
233 183

121

187

219

IOC
151
100
115
129 ,
165

157

.203
230
166

161

157

163

172
172
203
191
175 •

19l*9n 191,9 191*8 19l*9n 191*9 19L8

191;
131

181

19
'22
19
20

-18
22
20

22
17 " 2 0
17

33

19

1*5
1*5
1*7

1*9
35
35

1*5
1*8
53
52 "

33
36
60

1*2 •
1*1*
1*9
1*8
1*2
38
57

53

21
26
22
19

32
27
30
2h
13 •
27

1*8
56
50
57
58

59

55

22

23

50

52

1*9

• 27

22

1

51
57
53
57

1*8
55
52
56

p - preliminary.
- 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 accounts r e c e i v a b l e a t beginning
of nor.th.
~~
~
->0.'z,.—These data are based on r e p o r t s of about 1:75 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 iiOO having charge accounts and
about 300 having i n s t a l m e n t accounts. Back f i g u r e s nay be o b t a i n e d on r e q u e s t
f r o r i the D i v i s i o n of Research and S t a t i s t i c s .
•