Full text of G.17 Department Store Credit : August 2, 1949
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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 $1 p e r c e n t p o i n t more t h a n i n Ivay. I n s t a l m e n t and c h a r g e - a c c o u n t l a r g e r r a t e s of d e c l i n e f r o m a mcnth ago than o c c u r r e d down about £ per c e n t from June 19li 8. c o n t i n u e d below t h e y e a r of t h e t o t a l i n J u n e , 1 s a l e s showed somewhat a_ y e a r e a r l i e r , and were Department S t o r e S a l e s , Accounts R e c e i v a b l e and C o l l e c t i o n s P e r c e n t a g e change f r o m : June 191^5 May 19U9 to . to • June 19k9 June 19U9 Item S a l e s d u r i n g month Cash Instalment Charge a c c o u n t Accounts r e c e i v a b l e , end of month Instalment accounts . Charge a c c o u n t s 1 C o l l e c t i o n s d u r i n g month Instalment accounts Charge a c c o u n t s -2 -8 -k -10 - 6 ,,-5 -1 -2 +11 - 2 • -1 • +1 +11 +. 2 R a t i o of c o l l e c t i o n s d u r i n g month t o a c c o u n t s r e c e i v a b l e a t b e g i n n i n g of month •1 " June Kay June : : . 19b9 -1918 Instalment accounts Charge•accounts L o t e . — F i g u r e s f o r June 19l;9 & 2k 53 are p r e l i m i n a r y and s u b j e c t t o r e v i s i o n . 2k 52 - G.17.3 2 - - DEPART3NT STORES - .JUNE 191# Cash and C r e d i t S a l e s , by F e d e r a l Reserve D i s t r i c t s Federal Reserve District 3ostoh' . Kevr York Philadelphia . Cleveland Richmond Atlanta Chicago S t . Louis Minneapolis Kansas - i t y . Dallas San F r a n c i s c o . U. S. T o t a l I n d e x e s ; I9U1 average g 100 ! :=rr C"h a r ^ e - a c c o u n t s a l e s Instalment sales Cash s a l e s June . xv.ay June May 19W3 19U9 19U9P 19U6 I9U8 19W 19L9P a 261 22s 206 201 223 272 211 217 2k2 26$ 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 .