Full text of G.17 Department Store Credit : August 2, 1944

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37

AUG 4 - 1944

. BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM

:

:

..
.

D E P A R T m . ' T STORE CREDIT
JUKE 1944

""*r

A u g u s t 2 , 1944R&s d s c - 2 1

.
•

.. .

-

I n s t a l m e n t a c c o u n t s o u t s t e n d i n g a t d e p a r t m e n t . s t o r e s d e c l i n e d by a b o u t
t h e u s u a l • s e a s o n a l amount i n J u n e , - ' a n d c o n t i n u e d a p p r o x i m a t e l y o n e - f i f t h b e l o w
t h e l e v e l of c y e a r a g o , " C o l l e c t i o n s en i n s t a l m e n t a c c o u n t s detireaEOd 9 p e r c e n t
i n J u n e , 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 31 p e r ' c e n t "as ' c o m p a r e d w i t h 33 per,
c e n t i n t h e p r e c e d i n g , month and 29 p e r c e n t i n t h e c o r r e s p e n d i n g month l a s t y e a r .
The a v e r a g e p e r i o d t h a t i n s t a l m e n t a c c o u n t s w e r e o u t s t a n d i n g wa§ a b o u t f i v e and
o n e - h a l f , m o n t h s , n e a r l y o n e - h a i f m o n t h l e s s t h e n i n J u n e 1943»
C h r r g e a c c o u n t s r e c e i v a b l e showed somewhat mere t h a n t h e c u s t o m a r y
s e a s o n a l d e c l i n e , a n d a t t h e e n d of t h e month were- i n s l i g h t l y l a r g e r volume
thfcn a y e a r e a r l i e r .
C o l l e c t i o n s o n c h a r g e a c c o u n t s i n J u n e showed l i t t l e c h a n g e
f r o m t h e p r e c e d i n g m o n t h , b u t w e r e 11 p e r c e n t above t h e y e a r ^ a g o l e v e l ,
Charge
a c c o u n t s w e r e o u t s t a n d i n g , qn t h e a v e r a g e , appr oxiira t e l y 48 d a y s i n J u n e , a b o u t
;
•one d a y l e s s t h a n i n t h e c o r r e s p o n d i n g month o f 1943*
'
Both c a s h and c r e d i t st le t s. o f d e p a r t m e n t s t o r e s d e c l i n e d f rem. May t o
June.
Cosh s a l e s , v / h i c h a c c o u n t e d f o r 63 p e r c-snt o f t h e t o t a l , r e m a i n 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 b u t c h a r g e - a c c o u n t , a n d i n s t a l m e n t s a l e s w e r e
i n . s m a l l e r volume t h a n i n J u n e 194 3 ,
*
D e p a r t m e n t S t o r e S a l e s , " A c c o u n t s : R e c e i v a b l e and C o l l e c t i o n s

'

Percentage'•.change f r r r n :
June 1943 .
: Lay 1944 •
to
=
to
Juno 1944
J u n e 1944
S a l e s d u r i n g month
i
. Cash '
'
'
- 8
Instalment
.
• -14 .
Chnrgo o c c o u n t
: -12
.
:
A c c o u n t s r e c e i v a b l e , e n d of month
•.
Instalment accounts,
•
- 6 '
• •
Changj a c c o u n t s
.. .
--4.'
C o l l e c t i r n s d u r i n g m^nth
' .
'
•. :
I n s t a l m e n t r.c c o u n t s
, •
- 9
Charge a c c o u n t s
+ 1
R a t i o of c o l l e c t i o n s d u r i n g m o n t h t o r e c e i v a b l e s a t b e g i n n i n g o f m o n t h

1944
i .

I n s t a Iment a c c o u n t s
Charge a c c o u n t s




•
'

'

•• • 3 1
63

: May.
• '1944
'

.

33 ' .
• 64: •; .

+ 9
-10
- 2
-19
+ 2
-16
+11

June"
1943
29
62

-

:
.

3g
-

2

-

DE&ARTI,3KT STORES
Cash and C r e d i t S a l e 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

F e d e r a l Reserve
District
Boston
Lev; York
Philadelphia
Cleveland *
Richmond "
Atlanta
Chicago
S t . Lcuis
Minneapolis
Kansas C i t y
'Dalla.s
San F r a n c i s c o
U." S . T o t a l

Indcoces; 1941 a v e r a g e = 100
Charge--account
Instalment sales
Cash s a l e s
June
Lay
i»ay
June
Liay
1944
1943
1944
1944
1943
1944
1943 .
1S44

June
1944
148
157
:155
159
171
222
166
. 162
160
217
265
203

169
rl45
rl73
177
191
: 263
176
r!69
193
238
.309
213

165 .

138
123
142
.150
163'
172
148
.153
161
. 194.
215
187
150

180

.

4-0
57
'48
46
49
65
47
53
62
55
54
47

.51
63
63
'
57
• 54 .
64
57
'65
64
56
65 • ;
48 '

50

' 58,

43
96 , 109
99
59
91
rll5
•102
46
50:
100 - 117
50
99
121
' 131
53 :
102
. 9 9 ' rl08
56
rll6
55 "
96
111
106
63 .
116
82
102
• 60
138
- 113
70.
.108
103
55

.

- 99

95
91
101
105
101
97
100
103
101
108
111
104

;

. 100

112

A c c o u n t s R e c e i v a b l e and C o l l e c t i o n s , b y F e d e r a l R e s e r v e D i s t r i c t s
Accounts o u t s t a n d i n g . - e n d of month
Collection ratio# *
Indexes;
1941 av '..-rr go ' = 100
F e de r a 1 P.es o r vc
accounts
jChrr;
Instalmerit
Cha rgo a c c c u n t s
I n : =talmcnt
District'
Kb y
Liay
Lay
Juno
ley . June
1944 1944 1943 1944 1944 1943 - 1944 1044 1943 1944 1944 1943
Boston
I\V»v York
Philadelphia
Cleveland
Richmond
Atlanta'
S t . Louis Minneapolis
Kansas' City !
Dallas'
.San F r a n c i s c o

29
43
35
34
43
36
29
33
33
3-1
31
29

32
46
33
36
43
' 38
30
' 34
37
37 32
31

38
51
38
40
47
40
39
42
44
48
39
43

U. S. T o t a l

34

36

42

86 ' 69
79
- 77
88
•84
79
83
,77
80
83
7585
82
79
85
. 77.
74
74 . 77
78
85
73
72
78

82

85
77
7976 •
71
"72
77
- 78
70
77
78
74 .

28
25
29
32.
26
25
39
36
38 .
37
31
36

77 ' ' 31

57
30
26
26
24
54
31
27
62
35 .. 31
63
56
25
27
27
'51
24
3741
70
3041
66
39 ' ' 36 ^ 76
37 - 33
" 70
29
34
' 64
37
33
72

57
55
64
G5
58
54
71
69
76
70
C6
73

54
51
62
62
57
52
70
67
78
6.7
60
68

33

64

62

29

63

r - Revised.
*' - C o l l e c t i o n s during, s o n t h a s p e r c e n t of a c c o u n t s a t b e g i n n i n g of m o n t h .
Ilete-: These d a t a a r c b a s e d on r e p o r t s of about- 475 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 i n g
-sales by t y p o of t r a n s a c t i o n , - more t h a n 400 h a v i n g c h a r g e • a c c o u n t s and a b o u t
300 hf. v i r g i H s t a l m c n t a c c o u n t s . Back f i g u r . e s may bo o b t a i n e d cn r e q u e s t
f r o m t h e D i v i s i o n of R e s e a r c h end S t a t i s t i c s .