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BOARD OF GOVERNORS OF THE' FEDERAL' RESERVE SYSTEM
G.17.3

' April 7, 1952
• DEPARTMENT STORE CREDIT- FEBRUARY 1952

A seasonal decline in instalment accounts receivable at
department stores during February brought month-end balances.to a
" level 5 per cent below that for January. These accounts continued
substantially be lor: a year ago. A in per cent drop in collections on
instalment accounts' in February was reflected in a collection ratio
1 point lower than the January ratio. However, the February ratio
was still above that for the same month last yearc
Charge accounts also declined seasonally during February.
At the month-end, they were 13 per,cent below the January level, but .
were only 1 per cent.below the level-of February 1951* Collections
decreased 23 per cent during February, when a sharp decline is usual.
The collection ratio of U5 per cent was 2 points below that for
January and 1 point below that for February of last year*All types of sales declined from January to February, as is
customary for this time of year. Sales during February were,also less
than in the same month a year ago.

Department Store Sales, Accounts Receivable, and Collections

Item

Percentage change from:
Feb, 1951
Jan. 1952 • to
V to
, Feb. 1952
Feb. 1952

•

Sales during month
Cash
.
Instalment
Charge accounts

....

- 2 .
. ~ 8 .
- 7

- 7
- 3
- 8

-

Accounts receivable, end of month
Instalment accounts
Charge accounts

- 5
-13

Collections during month
Instalment accounts ,
Charge accounts

-10 ,
-23

7

- 9
- 1

~ k

:

.

- 3

Ratio of collections during month to accounts receivable at beginning of month:
Feb.
1952..
Instalment accounts
Charge accounts

Digitized NOTE:—Figures
for FRASER for February


195S

18
U5

k7

Feb.
1951 ,
17
1*6

1952 are preliminary and subject to revision.

. DEPART^NT STORES

- FEBRUARY 1952

Cash and Credit Sales, by Federal Reserve Districts'
- Federal :
reserve
district

Feb.
19523

Indexes
Cash sales
Jan.
• Feb..
1952
1951

Boston
63
York
69
Philadelphia
72
Cleveland
73
Richmond
72
Atlanta .
7L
.Chicago
75
ft. Ipuis'
70
1'inn?srolis79
Kansas City
' 70
la lias
75
San Francis"C
66
0. S. Total:

Instalment sales
:Charge-account sai.es
Feb.
Feb,
Feb. 1 Jan.
Feb.
* Jan.
195:
195%)
1952 ' 1951 , 1952pl 1952

• 73

63

77

' 73

75,

i?U
9l

:

77

:;

iu

75

!;

7A

77

,;

T

:

79

:

78

79

.

71

'

66

!

79

77

j

88

85

83

33

;

88.

85

116

1-U3

83

96

90

85"

9u

66

82

98

'
!
.
i
\

111

58

76

:i -

75

i o 3

!=

1 - 6 .

119

86

72

i - i

i;

117

i o 5

81

i

7 2

'

72
71
70

.

231
:[
113
1
119
129 " i
1
l n 7.

73

j
1

.2^5
115
1365
1 U

199
.106

'

101
89

8:'

" 92

j:

91

°3

12li
107
9h

110

ji

1
-i

77

::

116
95

'

!

i 81
51
;
j 76

!I
:
1

"

91 "

^6
. 87'

92

"5

8 It

56

96

51 '

95

95

irr

1^1;
125

77

92

116

83

CQ

93
.
59

"

'

Accounts Receivable and Collections, by Federal it-serve Districts

Federal •Reserve
Lis iric t

r-st-n
Ycrk
Khiladelnhia
Cleveland
ri~hr.cnd
Atlanta .
Chicago
St. Lc^is . I'inr.eapoiis
Kansas City
Dallas '
Can Francisco.
- L. S. Total

Accounts outstanding,ena cf rn.on
Indexes: l-h7-19h0 average "100
•
=—r—7——
—
instalment ~7~ Charge-accoun'
F ^ : F^b: Ji
— b :
F^r
1951
1952c
1952 1951
155

203

112

133

r ;

13 0

10c

132 n 5

15

133

151

17

116 5

127

l
"157

171'
175

2-6
lc2
15-Ck

5

120
126
120

161

170

175

153
173

116-

166

131

Ib3 1 2 5
111 125

m

222

153

212

151

205

122
lir

.ill

133

137

166

166 175

157

225 22l
2-5. 253
221
230

127

229

126

150 132

l5C

15":

125

112 125

2"°

Collection ratios-"
Instalment
Feb. Jan. Feb.
1-53 1952 1951

199

113

15:

137
-

150

La

17

hh
55

17
15

16
•21

122

15
17

19.! 17

1:3
5

.36

,3

li5

Li

|h
; 3

L8
hi
Uu

' 15

|L6

|

'36

%
53

21 .

121
133

•Charge-accou;r
3b. Jan.1 Feb.
1952:1051

19
15b
1:7
• hi
h6

uc
a2
!<r
52
5? •

U?
h2

h7

p—Preliminary.
—ncllecticr.s during month- i Dereenta'ge of accounts receivable at beginning of
month.
base previously used to a 1.9hl~l?h?
~J Indexes have been converted from the 19tase.
I'OIL:— These date are. based on reports of about 55° large department stores reportir.g sales
tyoc of transaction, about" li75 having charge accounts a:\i
about 375 having instalment accounts. Back figures may.be obtained c-n

request from the Division of Research and Statistics. .