View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM

DEPARTMENT STORE CREDIT
October 19^2 - December 195^

.

Y~\ p

-iV
V i 4 2

I960

J




8 ^ 8 5 3

\

)

;
w*1hSOASD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM >
December 21, 19^2
R&S dsc - 1

F<j? Immediate. RsJ.e@.-se
rjc Immediate. F
'

x t

1

,
DEPARTMENT STORE CREDIT
October I9I42

instalment accounts receivable of department stores declined
further in Octoberbut at a less rapid rate than in any earlier .month
of 191+2. Collections continued to improve, The ratio of collections on
instalment accounts in October to receivables on the first of the month
was 29 per cent as compared with 25 in the preceding month and 19 in
October 1941.
i
.
Charge accounts outstanding showed somewhat more than the usual
seasonal rise from the low levels of recent months and at the end of
October were 69 per cent of the ^amount at the close of 1939. There was
a further increase in collections.
These data were compiled by the Board of Governors of the Federal
Reserve System from statistics reported to the Federal Reserve Banks.
Prior to August 19U2, similar series by geographical regions were released by the Bureau of Foreign and Domestic Commerce. Those series have
been converted to a Federal Reserve District basis and certain revisions
have been made in the underlying data. The new. series by Districts, for ,
recent months are shown on page 2,
Department Store Accounts Receivable and Collections
lange from:
Percentage ci
October 19lt1
September 19
to
to
October 1 9 ^
October 19U2
Accounts receivable, end of month
Instalment accounts
Charge accounts

- 3
+ 10

-1.
2*

+28

- 1

Collections during month
Instalment accounts
Charge accounts




*

Department Store Accounts Receivable and Collections,
by Federal Reserve Districts

Accounts outstanding; end of month
Collection
Indexes; Dec, 31, 1939' = 100
Federal Reserve
Instalment
Charge accounts
Instalment
District , Oct. Sept. Oct. " ' Oct,- Sept,Oct, : Oct, Sept. Oct..
19U2 19U2 1 1 .
9 4 1 191+2 19142 < 19U1
•
191+2 19U2 -I9UI
Boston
, 59
60 " 10U '
:
New York
111 •
69
70
Philadelphia
5b 56
97
Cleveland,, .
121+
69. 71
Richmond
69
71
1103
Atlanta
72
lb . 120
Chicago
•
101 '
57 ' 60"
St.. Louis
68
117
71
Minneapolis
80
106
81
Kemsas City
67... • 68 ' 117
Dallas
, 70
73 ' 139
San Francisco
113 ; :
71 . 73
U. S. Total ' ' 65 . 61

110

61
61
58
6+
1
63
666+
1
67
56
• 66
69
62

71
67 ,
68
69
70 ' •
70
65

lb

61
69
71

lb

• 69

63

1

ratios*
Charge accounts
Oct, Sept. Oct.
191+2191+2 19U1

.88 •
.87;
81+
93
99
95
38 .
93
•
9U
92
96
91

21
18
62
27
57 .
26. 2$
.20
1+9
53
66
21+
60
29
19
20 "
66
60
29
25
25 • 22
17.
59
55
20
23
IV
,55
W
21+
32
70" '
37
75
68
66 '
18..
• 3P 21+
80
21
29
83
25
30. , 5 • ,19
2:
63
69
6l . 57
.
1
25,. 22 . 1 +
26 . 1 8 '
30
71
69

91 '

29

25

19 :

.65

60

1+9
13
+
1+6

b5
bl

36
55
51
53
1+9

bo

51

1+7

* •
•
•
•
•
.
* Collections during month as per cent of accounts at beginning of month.
Note: These data tire bastid on' Reports of more:than i+00, large, department stores having charge accounts and about 300 having instalment accounts.. Back figures
may be obtained. Aa„request from the Division of Research and Statistics.