Full text of G.17 Department Store Credit : January 9, 1951

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BOARD OF GOVERNORS OF TE

EDER/.L RESERVE SYSTEK
January 9, 1951

G.17.3
DEPART! J'KT STORE CREDIT - ::OVEtBER 19^0

Instalment accounts receivable at department stores'- showed little
change in November and at the end of the month were 37 per cent larger than
on the corresponding date of the preceding year., - .Collections' on - instalment
accounts declined 2 per cent in November and- amounted to 17 per cent of the
accounts outstanding on the first of the month. The November ratio was somewhat below that of the preceding month and -significantly lower than in November
19h>. .-it this rate of repayment instalment accounts would be liquidated in
approximately 10 months.
'
Charge-accounts outstanding increased at an accelerated rate in
November and at the end of the month were 10 per cent above those of a year
earlier. Collections on these accounts increased for the third consecutive
month, and were y per cent Greater .than in November 19k9. The ratio of
charge-account collections during the month to accounts receivable on the
first of the month was $1 per cent, .about the same as in the ttvo preceding months.
1
\_
Tales at department stores ' showed a seasonal expansion during "November
after* having experienced• a slight decline in the previous month. Cash and
charge-account sales rose 15 per cent and:Id per cent respectively in November
while instalment sales showed a contraseasonal decline of 8 per cent. Instalment sales fell below the November 19d9 volume while cash and".charce-account N
• business continued above that of a year earlier.v
• ;

Department Store 5'ales, Accounts Receivable, and Collections
Percentage cilange from:
Nov. 19U9
Oct. 1950
to
to
Nov. 1950 .
Nov. 1950

Item

Sales, curing month
Cash
Instalment
Charge account

"
'

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

'

'

+15
- 8+lk

+ 1
-* 6
+ h

o
+ 8 ,

+37 •
• +10

- 2
: + 3

' +32
+ 9

Ratio of collections during month to accounts receivable 3t beginning of month;
. Nov, '
Oct.
Nov.
:
1950
' 1950
1919
Instalment accounts
•
17
~TB~ _
20
Charge accounts
'
•
51
51
54 .
.GTE.—Nigures
 for November


1950 are preliminary and subject to revision.

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pvrcenta,c of accounts receivable at burinninr of

. uuta are cased en re..crtu of about L75 larfe department stores reyorte of transaction^ ::ore uhan LOO !iavinr charge accounis and about
njiaiztint auccunts. zack fir^rcs i.-ay be ootainec: on request fraa the
- a / c h ana 2ia%istics.