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BOARD OF GOVERNORS 0? THE FEDERAL R E S E R V E SiSTEk
January 4, .1045
Pts dsc - 26
DEPARTT.IENT STORE CREDIT
NOVEMBER 1J44
Instalment accounts outstanding at department stores showed more than
the usu'jI seasonal i ncren.se .in November, but .were 0 per cent below the amount
outstanding on the corresponding date of 1945. Collections on instalment accounts rone ? nor cent: during the month, and the collection ratio was unchanged
at. the hi -h October level of 39 per cent. The average period that instalment
accounts were outstanding continued to be about four months, approximately the,
same length of time as in November last year.
Charge accounts receivable increased by somewhat more than the usual
seasonal amount, and at the, end of the month -were 14 per cent above the; yearago volume. Collections on charge accounts, increased substantially, ' n i the
t
collection ratio rose two points to a new high of 67 per cent. Charge accounts
were outstanding, on the average,, less than 45 days in November, a slightly
shorter period than in the corresponding month of 1043.
Both ccsh .nd credit sales showed more t!v n the customary expansion
from October to November. ' Cash sales, which comprised more than three-fifths
of the tot'l, were 17' per cent larger than a year ago. Charge-account sales
also increased sharply over the year-period, while instalment sales were above
the year-ego level for the first time since early this ye'jr..
Department Store Sales, Accounts -Receivable and Collections
Percentage change from:
November 1943
October 1944
to
to
November 1344
November 1044Sales during month
Cash
Instalment
Charge account
Accounts receivable, end of month
Instalment accounts
Charge accounts
Collections during ronth
Instalment accounts
Charge accounts
• -

+16
+16
+ 17 '

+ 17
+ 2
+ 14

+ 13
+13

- 8
+14

+ 9
+ 14

^ '

+12

.
;

receivable at beginning of month
Nov.
Oct.
. Nov.
1943
• 1944
' 1044
Instalment accounts
Charge accounts




3D
67

,39
65

38
66

n8

DEPARTI.IEI^T STORES - NOVE/.BEI^ 1344
Cash ~nd Credit LS-les, by Federal Reserve Districts

iiv
-o.
1944

Z3
:
Vr . -eel ,f~ia
_1
id

J". 3

.s
wDllS

Sen Francisco
U. J. Total

308

• s sal s
;h
Oct.
Nov.
1044
i94:r
187
177
1-208

181- .

304
''5
-4
2'
4!
• 10
ff 1
220
330
301
338
'POO
ooi
314
:N:3
219
318' r274
366
537
303
253

220
246
203
1:10
218
26c"
.330
263

245

173

209.

214

3.11. .

£11

BVfise = .00

r idexos; 134.1
.
Inst'
Nov..
Oct.

|

|

federal Reserve
District

1944

• Nov.

1944

88

03 '

70
81
111
73
75

' 112
• 113

79
93
113

90
' 110
. 101
78
90.
94

69

:9
r77

05 .
74

80
r68

84
91
111
. 90
. 83
83

81

92

93

Nov.

Oct. . Nov.
x

1944

1943

6.
P
36

86
.112
' 109. -

Charge -aoc >un' sales
1944

1943

136
111
.rl33

134

136
159
]32

3 21
139

129

132

133 "

151
, 161
143

.

120

MO
135
. 125
127
122
128

138
121
150
123
139
122
.143 ' rl27
188
161

13 . ' 133 "
8
'

136.
135

149

130 '

127

Account r Receivable and Collection's, by Federal 'Hoserv-'d Di.'strict<5

.federal Reserve
District

Accounts outstanding, end of month
Indexes; 1941 averse = 100
. jnt
.
Charge accounts
I :st a ' r
Nov. Oct. Nov. Nov. - Oct. Nov.
1044

Boston
Rev: York .
Philadelphia
Cleveland .
Richmond
.Atlanta
Chicago
St. Louis
Minneapolis
Kansas City
Dallas
San Francisco
U. 0. Total

33
48

41
40
47
43
34
35
43

19:-;.

1943

' 31-" a'
3
34
35
41
33" "" 41 '
>8
i
.
46
41
33
37
41
32
3143

1944
106

06
111

1944

1943

98
84

93

36

104

"92
• 33' 87
17
106
107
94
. 33
106

Collection ratios* insta'ner.t ICbargo acocJlltS
Nov. Oct. Nov. Nov. Oct. Nov.
1944 1944 1943 1344 1944 1943
35

3o
34

33
34
31 - 46

104

39

84

40

33

102

30

30

36

30

44

• 30 ' 83
33
83
38

33.

33 • • 30
"3 ' 38
38
•7
3
39 .
32

67

r43

30

73

38
54
63
64 ' 67
39
62
33
59
73
73
70
72
80
80
73
73
67
66
74
74

33

38

67

63

3:r

90
36
47
31
30 ' 4080
"46
43
86
47
38
87
42

-12 j

33

33
83 • 33
98" . 41 • 40
90
40
. : ' 33
-3
83

60
36
32
33
73
" 4 6 31
47
42
72
r48
46 ' 80
48
74
47
38
37
63

cr

f'

36
63

•

66

r . R e v i sod.
.«
•
* - Collection's ciurinf month as per cent of accounts receivable at beginning of .
month. ;
.Note:"' These data aro b;sed'on reports, of 'about 475 larre depertinent stores reporting
stiles, by typo of transaction, more, thin 400- having charge accounts end about
300 'ha-v: n. instalment accounts. Back 1 inures may be obtained on. request
;;
from the Division of Research end Statistics.