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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
G.17.3

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December r3y : ;19U8^^.. DEPARTMENT STORE' CREDIT
.

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^

. .

. pcTOBy m e

• ' '•

' . .

:

T"

%

; -

Instalment accounts outstanding -at .department stores increased at a
less rapid rate than is usual in October, ;but' at 'the. end of• the./month exceeded
the year-ago level by 63 per cent. Collections on instalment accounts were
slightly higher than in the preceding month,, but.the percentage'of these, collections to accounts outstanding on the first of:, the month was unchanged at 2k
per cent. Instalment accounts continued to -be liquidated in approximately
seven months.
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\
,
•
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Charge accounts receivable showed about the lisual.rise in October,
and at the : month-end.remained about one-seventh larger'than on the corresponding date last year. The 17 per cent increase in collections on charge accounts
resulted in a collection ratio of 5 t per:cent as compared with 53 per cent a
1
• month earlier. The average repayment period foi* accounts' outstanding in
October was 55 days; a year ago it was 53 days.;
,
Both cash and charge-account sales showed atjout the .customary
seasonal increase from Septe-mha^ to October. Instalment sales were down ,5 per
cent,, although a.rise is usually expected in this;month. Cash_sales, currently
amounting to slightly more than half of total department store sales, increased
2 per cent over the year-period. Both types of credit sales, however, showed
somewhat larger gains from a year earlier—lU. per, cent for .instalment sales
and 10 per cent for charge-account sales-.
'
Depar^ent Store Sales, Acctiiiiybs Receivable and Collections

;

Sales during month
Cash
Instalment
Charge account

Item

.

.

,
'
,

'

:

| -

: .
; ~ • > •

. .

> ,

••'+11 *
-i5

::

Accounts receivable, end of month i
Instalment accounts : '
Charge a'ccounts
.
Collections during month
Instalment - accounts
Charge accounts

Percentage change from:
'Sept.,19k8
Oct. 1 9 h 7
to
• ; ' tb
'
Oct. 19li8
odt:: i9i8

\

; ' ' j,
:

•

;

'
.

f

+ 2
• +lii
+10

'
•
;

, < " . 1
" / : ; $ r N a
•
!
' i :
. +10
!

- {
^
^-

+33
+ 8

-;;*17_,

Ratio of collections during month to accounts' receivable at beginning of month
" ;
/
Oct.
Sept.
Oct.
' i"':. 1918
19U8
1917
Instalment accounts
Charge accounts

Digitized Note.—Figures for October
for FRASER


2li •*
5U "

2h
53 •

1<?U8 are preliminary and subject to. revision.

31
57

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DEPARTI.ZIJT S T O R E S - OCTOBER. 19k8

'

Cash and Credit Sales, by Federal Reserve Districts
-

Indexes; 19kl average = ICO
Charge--account sales
Instalment szlies
Cash sales
Sept. Oct.
Oct.
.
Oct, . . Sept. Oct.
Oct. . Sept. Oct.
19k 7
19k8p
19k8
19k7
19k8
I9k8p
19L8 : 19k7 . 1 9 W p

Federal .
Reserve
District

Boston
Nevf York
'Philadelphia
Cleveland
Richmond
Atlanta
Chicago'
St.*- Louis
Minneapolis
Kansas City
Dallas.
San.'Francisco

231
211
261
221
2k6
323
257
262
- 306
. 33k
313
2k2

"

210
.. . 22k
, ' 211. .235
. : 231
2k9
22s
231
2kl
223
..28k , 318.
2#
'
.
233,
2% .
. . 2k2
302,
' .276
,297
3k5
291
332. :
266
228

250 , ; 20k.

230"

2#

U. S, Total

. 238
,
167
20k
-' 197
225209-,
193
217
268.
198
.232
221
:19k
25k
211 •
232
iko
25^_
172
173
. 18}
302
22k
293
2kl
182 . . 158
181
.2k8
266 . 187
218
201 .
227
239
267
22k
232
215
; 310
209
36k
258
226
161
205
185
179

215

2k9

;
.
;
.

201
221
202
195
237
223
22k
225
2ki
223
263
279
228' • 219
2k2
266
250
238
238
316
299
231
215

%

.

226

. 228

Accounts Receivable and Collections, by Federal Reserve Districts
Accounts^outstanding,.end of'month
Collection'ratios*
Indexes: 19kl average = 100
Charge accounts
•Charge account^ . . Instalment
. 'Instalment
Oct. Oct. Sept. Oct.
Oct. Oct.
Oct. Sept. Oct. Oct.
19k7 19k8p 19k8 19k7
19k7 19k8p
19k8 19k7 19k8p

Boston
V
Ne-v York
PhiladelphiaCleveland
Richmond
^
Atlanta
• •
„
Chicago
St. Louis
'
Minneapolis
Kansas City .
Dallas
San Francisco
U.S.,Total

113
•130
-16k
189
' 123.
' 229
115'
173
158
20k
; 269,.
156

.

155

115
87
122
90
'158
"95
186
117
80
,116
108
222
,11k
75
170
87
161 . 110
112
198
.275 ; 110
152
95
151

;

95

If

II

Federal
Reserve
District

172
176
195
188" 170 . 168
231" "196 -l'9k
186
218
198
167
17k
19k
218 - 203 180
183
207
193
200
218
237
186
210
191
200
18k • 17k
20k
218
192
187
173
193

21
25
21
21
21
17
ko
23
26
22.
17
28 :

20
2k.
22"
21
22
18
kO
23
2k
22 .
18
28

23
27
30
27
29
27
k5
36
37
36
29
38

206

2k

2k V

31

188

181

k8
51
k9. . 50.
50
53
51
53
37
37
38
39
61
63
52
55
61
6k
60
56
58
57
66
63
. 5k"

53

k9
5&
55
k8
k3
65
61
65
62
61
69
57

*. - Collections during month as percentage,of accounts receivable at beginning
ofmonth. '
'
ITOTE.—These;.data are based on reports of about k75 large department stores
reporting sales, by--type of transaction, more than kOO having charge accounts and
about -3_C0 having instalment accounts. Back figures may be obtained- on request from
the Division of Research and 'Statistics.
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