Full text of G.17 Department Store Credit : February 5, 1947
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TRANSFER (fflto OF THE FEQERflL EitvEUSP BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM/ G.17.3 February 5, 1947 • DPARTMENT-.--.S I.ORE-- 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 • ".. . ' +21 +25 • +58 +53 + 7 + 4 +44 +39' • ' • + 8 +84 +44 • 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 1946 1946p chnoe. : 337 314 376 343 302 242 245 227 ISO 175 • lay.:: a 517 130 340 365 r t e n •V V c r k i l a d e l 451 0. ir. 415- vl l i a s r: Fran Accounts r x c c i vfOr •Federal : r.o. i ; i 163 134 103 210 101 162 166 135 173 115. 2 90 98 272 360 332 , 3 . lie 146 C o l l e c t i on-r , • b y ::ev/ York = 194cp 19,0 1945 i -St 1 71 50 223 •179 149 : 22 27 77 ! 02- 54 190 • 103 137 i 50 35 55 42 70 Cleveland •; 51 2 24 170 151 i 70 i 04 , 40 237 •152 15 0 1 78 i 05 i 57 200 103 137 i i 7 4 i i 52 197 104 55 5x.' i - SB .. LCU1S. City 80 ;' C-l 1 03 i i B6 ! 51 i Oar; 02 ; s -! £4 1 04 I r rar.'cis cc ;• -I". 0. T o t a l j 75 1 x . -• 54 : ! . i: r ; a p o l i s -• a n s a s : 74 71 5 5 | i - 159 150 35 . 228 163 14.4 226 i 1 1S3 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 i i 62 j i Dc-c. 1945 19-zOp 1946 - 48 221 176 j 144 1 177 191 198 207 226 191 29 7 252 267 218 233 203 ratios I n s t a l m e n t | iiOV . 1945 191 190 205 215 191' D i s t r i c t s Colle ction 100 accounts Ri c h r x n d j h ^ . C O Reserve- ; P h i l a d e l p h i a At lar.xa F e d e r a l r.cnth sal es 1945 200 233 240 233 239 224 238 230 291 119 . 1 1 9 4 6 p j 19-.6 Boston 141 199 - 127 15 5 219 - r. "212 154 ' 154 " 265 270 296 309 283 255 275 135: 64 120 ei 355 i n^-cclnen-c 19',c 106" or Reserve Oistr'ct Nov. 194 Op 145 670 426 and Doc. 101 155 136 164 121 469 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 45 49 53 02. - 58 37 • 55 54 57 • 56 52 57 59. 50 52 50 4 9 55 52 35 . 36 33 46 45 51 43 .43 57 03 67 69 45 45 45 5 9 65 67 42 4-3 69 79 43 44 62 66 69 70 30 43 ' 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 -