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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
G.17.3

August 2 , 19k9
'DEPARTMENT-STORE. CREDIT
:

-

"

'

JUNE--19lt9 "

Instalment accounts outstanding a t department s t o r e s declined 1 per
c e n t i n J u n e , a l t h o u g h a t t h e end o f - t h e month" t h e y wore 31 p e r c e n t 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 oft i n s t a l m e n t a c c o u n t s were, s l i g h t l y l e s s t h a n
• i n i.ky; however, t h e y c o n t i n u e d t o a c c o u n t f o r 2k p e r c e n t of t h e amount o u t s t a n d i n g on t h e f i r s t of t h e month. At t h e c u r r e n t r a t e of c o l l e c t i o n , i n s t a l ment a c c o u n t s would be r e p a i d on t h e average, i n 7 months, about t h e same a s a
year e a r l i e r .
.
'
Charge a c c o u n t s r e c e i v a b l e on June 30 a l s o , w e r e down. s l i g h t l y from t h e
end of Lay, and shewed a 2 p e r c e n t d e c l i n e from b o t h month-ago ana y e a r - a g o
l e v e l s . C o l l e c t i o n s on charge a c c o u n t s r o s e 1 p e r c e n t d u r i n g J u n e , when l i t t l e
change i s c u s t o m a r y , and t h e r a t i o of c o l l e c t i o n s t o a c c o u n t s r e c e i v a b l e on
June 1 was 5>ii per c e n t , 1 " p o i n t h i g h e r t h a n i n May. The average c o l l e c t i o n
p e r i o d f o r charge a c c o u n t s o u t s t a n d i n g i n June was £6 d a y s , 1 day 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 of 191:8. ' Cash s a l e s d e c r e a s e d 2 p,er c e n t i n J u n e , and
ago volume. This t y p e of s a l e c o n s t i t u t e d $1 p e r c e n t
p o i n t more t h a n i n Ivay. I n s t a l m e n t and c h a r g e - a c c o u n t
l a r g e r r a t e s of d e c l i n e f r o m a mcnth ago than o c c u r r e d
down about £ per c e n t from June 19li 8.

c o n t i n u e d below t h e y e a r of t h e t o t a l i n J u n e , 1
s a l e s showed somewhat
a_ y e a r e a r l i e r , and were

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 :
June 191^5
May 19U9
to .
to
• June 19k9
June 19U9

Item

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

-2
-8
-k
1

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

-1
-2

+11
- 2

• -1 •
+1

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

-10
- 6
,,-5

+11
+. 2

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
•1 "
June
Kay
June
: :
. 19b9
-1918
Instalment accounts
Charge•accounts
Lo e.—Figur
Digitized for tFRASERe s f o r June 19l;9


&

2k
53

are 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 .

2k
52

-

G.17.3

2

-

-

DEPART3NT STORES - .JUNE 191#
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
Federal
Reserve
District
3ostoh' .
Kevr York
Philadelphia
. Cleveland
Richmond
Atlanta
Chicago
S t . Louis
Minneapolis
Kansas - i t y
. Dallas
San F r a n c i s c o .
U. S. T o t a l

I n d e x e s ; I9U1 average g 100
! :=rr h a r ^ e - a c c o u n t s a l e s
C"
Instalment sales
Cash s a l e s
June .
xv.ay
June
May
19W3
19U9
19U9P
19U6
I9U8
19W
19L9P

a
261
22s
206

201
223
272
211
217
2k2
26$
263
202

227
22$
211
213
219
256
239
219
252
285
2Wi
230

205

210

229

21L
189

212
199
198
191
208
2J2
206

179

152
• 21h
203
21U
273
152

179
169
178
199
183
279
#8
223
188
223
292
119

167
200
108
219
168
217
192
213
257
173

168

182

179

I6I1
171
163
173
113
21(6.

181

180
221
210
202:
203

205
179
222
215
210
252
210
209
239
219
258
203

208
193
213
215
21k
208218
ZOO
223
217
215
2 111

201

210

211

208
179
209
236
207
205
r 206"

Accounts Receivable and C o l l e c t i o n s , by Federal Reserve D i s t r i c t s
Federal
Reserve
.District

Boston
Rev;. York
Philadelphia
Cleveland
Ri chmond
Atlanta
Chicago
,
S t . Lcuis
1 Minneapolis
Kansas City
Dallas
San F r a n c i s c o
U. S. T o t a l

Accounts o u t s t e n d i n g , end oi "month
Cnllection ratios*
:e = -100 .
I n d e x e s ; 1941
>unts
Charge
Instalment
Charge a c c o u n t s
Instalment
May June
i:ay June
Kay June
June June
19L9P 19L9 19L8 1949P 19^9 19^8 19li9p. 19L9 19L8 19L9P 19L9 19L8
112
129
157
l8ii
130
232
113
171
Hili
169
238
151

121
130
I6I1
183
130
230
111
169
ihk
175
232
150

10k
I8i
117
177
211
151
195
153
107
175
186
186
18k
109
219
152
116 . 1 8 $
189
183
182
231
183
136

151

151

136

188

190 186
175 178
221 2 # .
201 213
177 173
200 183
181 . 195
227 209
191 189
190 183
199 179
185 191
192

192

2k
29
19
20
18
16
k2
22
2k
22
19
25
•2k

22
27
20
22
19
17
111
23
2li
2li
21
25
2li

25
27
22
17
30

50
$1
51
52
1|0
36
65
52
60
5Uf7
6I1

lili
li9
50
53
hO
38
65
51
60
53
58
65

2li

51i

53 1 52

23
21*
20
2li
2118

>

h9
li9
?•
50
37
37
62
53
g?
56
58
62

d - Preliminary.
' .
* - C o l l e c t i o n s during month as p e r c e n t a g e of accounts r e c e i v a b l e a t b e g i n n i n g of
month.
•
.
.
MOTE.—These d a t a a r e b a s e d on r e p o r t s of a b o u t 1|?5 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 ing s a l e s by type of t r a n s a c t i o n , more than iiOO having c h a r g e a c c o u n t s and
about 300 having i n s t a l m e n t a c c o u n t s . Back f i g u r e s may be o b t a i n e d on r e Q-aest from t h e D i v i s i o n of Research and S t a t i s t i c s .