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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
G.17

February U, 1955
D2PARTIEUT STORE CREDIT - DECEL3ER I9?h

'

Instalment accounts outstanding, at department stores increased
11 per cent during December, reflecting a seasonal expansion in instalment
sales3 Balances at the end of the month were.7 per cent above a year
earlier. The instalment collection ratio,> estimated, at la' per cent in
December, was 1 point above November and unchanged from a year ago=
A 33 per cent increase, in' charge accounts, largely seasonal in
nature, brought month-end balances outstanding to a level 3 per cent above
a year ago. Collections in December amounted, to U6 per cent of first-ofmonth balances, 2 points below a month ago and the same as a year earlier0
Sales increases from November to December amounted to 57 per .
cent for cash sales, hi. per.cent for charge-account sales, and 35 per cent
for instalment salesn Each .type of .sale was also above a year ago —
cash sales by 2 per 'cent, charger-account sales by U per cent,, and instalment sales by lU per cento

Changes in Department Store Sales and Accounts Receivable

Item

Percentage change from1,:
Dec, 1 %
Novo 195k
to
to
Dec.. 1951;
Dec. 195k

-

+ h
+ 2.

+50
+57
+47
I.
+35'

Accounts receivable, end of month: Charge
Instalment

+ h

+33
+11

Sales during month: Total ,
Cash
Charge
Instalment

+ 3
+ 7

+H4.

Collection Ratios and Percentage Distribution of Sales
Item

December
1951

November
1951

December
1953

k6
lh

18
13

Ik

U7
13
*
10

11

Collection ratios 1/: Charge accounts
Instalment accounts
Percentage distribution of sales: Cash
Charge
Instalment

,

.

15

7

hh

l6
i

hs
h3
• 9

Digitized for 1/ Collections during month as a percentage of accounts receivable at beginFRASER
ning of month.


DEPART] [EUT STORE CREDIT - DECEI3ER 19^L
Sel.es by type
^Percentage changos)
Instalment
Charge-account
Cash sales
salen
sales
Dec.>53 Nov-.15h tec..' 53 Nov.15k Dec.'53 Nov.'5k Dec.'53
Nov.' SL
to
to
to
to
to
. to
to
to
l.
Dec.^1 Dec.'51 Dec.' 5 iDec,15u Dec.15h Dec.' 5k Dec.15U Dec.'5k
Total sales

'Federal
Reserve
DistrictBoston
rev; York
Philadelphia
Cleveland
JliclTicnd
. Atlanta
Chicago.
"St. louis ^
Minneapolis_
Hsnsas Jit"
.Dflias
San Francisco

+55

+ho

+L5

+U5
j

+ 3
+ 5
+ 5
+ 5
+ 6
+ 6
+ 1
:
t h
+ l
>

. U. S. Total
.

«

!

+ 1
. +6U
+ 5
+50
+ 3
+5?
- 8
+h5
+6U. ! + 3
T h
>72
+59
4
""3
^5
• + L
• + 3
. + 3
+ 2
+72
+ 2
'

+1|8
+12
• +30

+hl

+50
+51
+h2
+UU
+57
+63
+52
+60
+i;7

+ 2
-l8
ri
+..U
+35
+ 2 - +28
+ 3
+33
. + 6
+3U I
+ 6
+12
+ l"
+23
+21
+ 7
+ 3
+39.
, +1:3
. + k
+)<6 •
+ 7
+ 3
+kl
+

h

!

Accounts receivable, end of month
(Percentage changes)
Federal
Reserve
District
Boston
KewYork '
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
St. Louis
hinneapolis
Kansas City
Dallas
San Francisco
I . S. Total
I




Charge accounts
Instalment
Nov.'bk Dec.'53 Kov.'5a Dec.'53
to
' to . to
. to
Dec.'51 3ec.'5L Dec.'SL Dec,'5'i

,
5

+36
+29.
+3=
-+33
+29
+35
+25
-+31
+37"
+36
+36
+33

+ 3
+13
+10
+1U
+ 9
- 1
+12
• 0
+ 1 • +12
+10
+15
+10
• :.
0
+ k
+ 7
+ 1
+ 9
+ 2
+10
' + 5
+ 9
+10
- 2
+ 3

+11

+10
+ 8
+12
0
+ 3
+18
+ 2
+15
+31 .
+ 9
+10
• +12
+ 7

+35

+13
+ 9
+2h
+17
+11
+16
+ 1
+11
+17
+lh
+28
+1V
+1U