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TRANSFER

(fflto OF THE FEQERflL
EitvEUSP

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM/
G.17.3

February 5, 1947
.R• DPARTMENT-.--.S I O E - CREDIT •
• ;

-

- DECEMBER' 1946- -

Instalment accounts outstanding at department stores increased by more
than the customary amount in December, and exceeded the year-ago. level by 58 per
cent. Collections on instalment accounts were up 7 per cent, but the resulting,
collection ratio of 35 per cent was. two points less than for November., Instalment
accounts were repaid in approximately four and one-half months in December,
Charge accounts receivable showed about the usual seasonal rise; and at
the year-end were more than one-half larger than a year earlier, Collections on
charge accounts rose slightly, but the collection ratio dropped five points to
54 per cent. Charge accounts were outstanding, on the average, about 56 days,
approximately six days longer than in December last year,
.
~
Both cash and credit sales showed substantial gains from November, and the
dollar volume for each type of transaction rose to. new high levels. Cash sales,
which continued to account for 57 per cent of the total, wore 8 per'cent higher,
than in the prcccdi-ng .year. . .Charge-account. sales-.showed a 44 per cent increase
from a year ago, while instalment sales were up 84 per cent.
•Department Store Sales, Accounts Receivable and Collections
Percentage
change
from:
November 1946 December 1945
• *0 . •
to
December 1946 December.1946
Sales during month
Cash
Instalment
Charge account
Accounts receivable, end of month
.
Instalment accounts
Charge accounts
Collections during month
Instalment accounts
Charge accounts •
:

. . +29
4-36
+26

• ". .
.

'

+ 8
+84
+44 •

+21
+25 •

+58
+53

+ 7
+ 4

+44
+39'

• '

•

Ratio -of collections during month to accounts receivable at beginning' of month,
Dec.
1946
•Instalment accounts
Charge accounts

35
54

Note,: Figures for December 1946 are preliminary and subject to. revision.




Dec.
1945
37 .
61 '

library
/EG

8
. _,;yg

-ETOR-cs - aschzpsR 1946

Curn rni Credit Ut.ler, by Federal Reserve Districts I Tide x e s ;

2 94 1

chnoe. :

337
314
376
343
302

242
245
227
ISO
175 •

lay.:: a

517

130

340
365

r t e n
i l a d e l

451

0. ir.

154

135:
64
120
ei

134

103

166

135

173

115.

2 90

98

272
360
332

'

r x c c i vfOr

141

154

136
164
121

199

and

C o l l e c t i on-r , • b y

•Federal

: r.o.

i

;

i

,

3 .

lie

=

- r.

"

194cp 19,0

1945

19-zOp 1946

i

-St

1

71

50

223

•179

149

:

22

27

77

!

02-

54

190

• 103

137

i

50

35

55

42

•;

51

2 24

170

151

i

70

i

04

,

40

237

•152

15 0

1

78

70

i

05

i

57

200

103

137

i
i

7 4

i
i

52

197

104

55

At lar.xa

i - SB
..

80

;'

City

C-l

1 03 i
i B6 !

51

i

02

;

s

-!

£4

1

04

I

r rar.'cis cc ;•

-I".

0.

T o t a l j

75

1

x

. -•

54

:
!

LCU1S.

. i: r ; a p o l i s

Oar;

:

74
71
5 5

i
|
i

i 62 j
i

- 159

150
35 . 228
163
14.4
226 i 1S3
1
5 6 ' ' 220 1 105 1 1 5 4
51 '
192
1 5 7 i 126
9
17.9 j "150
221
58
194
j 14 8
253
46

-

48

221

176 j 144

198
207

226

191

29 7

252

267
218
203

ratios

Dc-c.
1945

| iiOV .

1945

177
191

D i s t r i c t s

I n s t a l m e n t

Cleveland

-• a n s a s

Reserve-

Colle ction

100

Ri c h r x n d

5x.'

F e d e r a l

r.cnth

accounts

191
190

205
215
191'

233

;

: e / York
:v
P h i l a d e l p h i a

j h ^ . C O

291

119

.

1 1 9 4 6 p j 19-.6
Boston

-

i

n^-cclnen-c

1945

200
233
240
233
239
224
238
230

146

219

or

Reserve
Oistr'ct

127

15 5

355

Accounts

"212

106"

145

670
426

r Fran
:

265
270
296
309
283
255
275

101
155

210
101
162

469

l i a s

19',c

sal es

Nov.

194 Op

163

415-

vl

Doc.

1946

1946p

•V V c r k

Chi-rge-account

s a l e s

. i.OV .

Dec .

194-J

= 100

a ve

I n s t a l m e n t

Charge a c c o u n t s
Doc. N
Dec.
1946p 10-6 1945

25

4 7

51

54

28

1

45

49

53

02.

- 58

37

• 55

54

57

• 56

52

57

59.

50

52

50

4 9

55

52

36

46

43

.43

57

03

67

69

45

45

45

5 9

65

67

42

4-3

69

79

43

44

62
66

69

70

35

30
43

.

'

33

•'

45

51

58

32

55

61

64

64

42

41

4 5

55

56

67

35

57

57

54

59

61

!

Preliminary.
Collect:-on;
during r.onth as percentage of accounts resolvable ct beginning of
-cnt:..

-ctq:

These dc-te are tcsed sn'r .-ports of (.bout 4 75 large dap&rtc-snt stores report• ir.r

s a l e s

about

300

b]' t y p e
having

cf

t r a n s a c t i o n ,

i n s t a l m e n t

more

a c c o u n t s ,

thin.

400

Rack

figures

having
rr.ay

^.uest iron the 31-.l si or of Rcse&fchend Stati'stics.




charge
be

a c c o u n t s

o b t a i n e d

on

and
r e -