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LIBRARY OF THE FEDERAL
m m BANK OF CLEVELAND

TRANSFER

BOARD OF GOVERNORS OF TIIE FEDERAL RESERVE SYSTEM
G.17.3

January 6, 19U8
DEPARTMENT STORE CREDIT
•NOVEL!!

1947

Instalment accounts outstanding at department stores increased somewhat
more than the usual amount in November, and were about four-fifths higher than a
year earlier. Collections on instalment accounts were up U per cent over the.
October volume, but the collection ratio of 30 per cent was one point less than' in •
the preceding month. At the prevailing rate of repayment instalment accounts would
be outstanding, on the average, nearly six months.
.
Charge accounts receivable showed about the customary gain in November,
and exceeded the year~ago level by 16 per cent. Although collections on charge
accounts were in larger volume than in October, the ratio of collections to
accounts outstanding on November 1 declined two points to 55 per cent. The average
collection period for charge accounts outstanding- in November, was about 55 days.
Cash and charge-account salens showed about the usual substantial increase
from October to November, while the expansion in instalment sales was more marked.
Cash sales,again amounting to a little more than half of the total sales, were '
I per cent below the volume-:of November 1946. The year-to-year gain in charget
account sales was 9 per cent, while instalment sales were 53 per cent above last '
year's level.
Department Store Sales, Accounts Receivable and Collections
. Percentage - change from:
October 19^7 November 1946
to
to
November 19U7 November 19li7
k

, -

Sales during month
Cash
Instalment
Charge account

>13
+23
+12

• ;
•
.

:

Accounts receivable, end of month
Instalment' accounts Charge accounts
Collections during month
Instalment accounts
Charge accounts

'

»

•.

* ,+17
'

. ,
"

+ 1 3

-h
+53 .
+ 9
+81
+16

'

+ h
+ 5

.

+35.
+ 9

Ratio of collections during month'to accounts receivable at beginning of month

,

..
.

' '''e
.rV
Instalment- accounts •rJd03d
Charge
^
g fi


Note.—Figures for^JIovember 19^7


Oct.
1917

Nov.
19UI
30

&

-

Nov.
1916

31
57

38
59

are preliminary ahd subject to revision.

.17,3
'

- 2 - -

DEiW(TLa:T STORLS - MOVELBER 1917
' Cash and Credit Sales-, by Federal Reserve Districts

Federal'
Reserve .
District
. —

Boston
lie-; York
Philadelphia
Cleveland
r.: c - : . : d
:. . .
Azlanta
Chios[u
"St. Louis '
i..i:i'\capolis
K&iras City
Dallas
San Francisco
S. Total

Indexes: 19ll average = LOO
Charge-account sales
Instalnient sales
Cash sales
Nov.
Oct.
Nov.'
Nov.
Oct.
Nov,
Iiov .
Oct.
1 ov.
'
15h6
19k7p
1917
1916
l'L7p
19L7
1916
19h7p
19L7
210
235
2Lv
23h
2Ll
313
2:5ii
2.5L
317
3L3
331
267

285

281
313
295
301
3L0
365.
L2L
326

2 Si

25:'
270
25/;
"263"
276
321
293
3CO
31b
367
376
2?!;

296

257
291
299

21h

• 211
23^
23k
230
203
2#
197
217
21b
.203"
313
.167

167
.196
19h
19k
IhO
196
162
187
•181
227
209

222

162
157
1U7

130

•l6h

lhl

153.
15L
133168
• 173
•136
16L
119
1L6

232
227
233
- 215
2L2
267
258
.267
2#
2%:

31h

256
2$3

- 212
201
211
202
•233 •
237
2L0
221
223
233
232
239
225:
^219
238
231
2#
236
226
237
298.
2992%
232
225

233

Accounts Receivable and Collections, by Federal Reserve Districts
Accounts outstanding; end of month
Collection ratios-::Federal • - - . Indexes: 1 ? M v/- ~.~i = 100
;e
Instalment
Char; accounts
Instalment
c1 " ;e acvv ..nts
. Reserve
Nov, Oct. Nov, 11CY. ; cct. |.:CV, Nov, Oct, i-Iov. Nov. Oct. Nov.
District
1?1:7T) 19K7 1916 1917% 1 ?ll 1916 19h7p 191:7 1916. 19l7p 1917 1916
Bosucn
T
"
.irk
:
rl^hia
CI ' - i T C
-oc

10L
iciv<
liL,
133
95

121

£8
Lt
CL 100
.
apclis • 129
Ka-r-as City
-.137
133
Sen Francisco 103
U. S.: Total

111

37
90
95
117
80
108
75
•7
3
111:"113
110
" 95
95

195
138
230.
5k
6u
205
196
63
192
lh
52 . 213
6h : 23a
86 -219
192
.71
21),
71
55: 196

22
29
.23
179
175
27" . 33
163
27
163
23
h?
30
17619a
•25:
27
186
182
37
32
.
17h • 163 . .25. 29
26
27 " ""33
180
16L
180
L5
53
LI
183
36
200
h3
183
37
h2
242
165
37
32
13
157 ' 3h . 36"
171
. 32
29
29
179
192
U1
33
36
173
19L

61'

181

67
62

201

1#

'30

31"

38

hi
hi

55
57
59
59
65

65
. 61
63
62
61
69

51
i 9
i
62
57
55
51
68
65
69
69
61*
56.

55

57

59

56
55

hi
-h2
6h

19

hi

56
55

hQ
h3

- 'Collections during month as percentage of accounts receivable at beginning of
month.
Note .--These data are based qn reports'of about lt75 large, department stores reporting sales by type of transaction, more than LOO having charge accounts and
about 300
 having instalment accounts. Back figures may be obtained on request from the Division of Research and Statistics#
.