Full text of G.17 Department Store Credit : July 1, 1944
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BOARD OF GOVERNORS Of TIB: FEDERAL RESERVE SYSTEM - \94A J u l y 1, 1944 R&S dsc - 20 — DEPAimiENT STORE CREDIT . MAY 1944 , I n s t a l m e n t a c c o u n t s o u t s t a n d i n g a t d e p a r t m e n t s t o r e s showed a b o u t t h e usu.il s e a s o n a l d e c l i n e i n May, and fit t h e end. of .the month amounted t o a r o u n d f o u r - f i f t h s of t h e volume of a y e a r a g o . C o l l e c t i o n s on i n s t a l m e n t a c c o u n t s d e c l i n e d s l i g h t l y in.May, r e s u l t i n g i n .a. c o l l e c t i o n r a t i o of 35 p e r . c e n t , a s compared w i t h 31 p e r c e n t i n t h e - p r e c e d i n g month and 3 0 . p e r c e n t i n May 3 9 4 5 . I n s t a l m e n t a c c o u n t s c o n t i n u e d t o be o u t s t a n d i n g , - on t h e a v e r a g e , a p p r o x i m a t e l y f i v e m o n t h s , o n e - h a l f month l e s s t h a n i n May l a s t y e a r . Charge a c c o u n t s r e c e i v a b l e i n c r e a s e d by a b o u t t h e c u s t o m a r y s e a s o n a l amount, and on May 31 were 9 p e r c e n t above t h o s e on t h e c o r r e s p o n d i n g d a t e l a s t y e a r . C o l l e c t i o n s on charge, a c c o u n t s i n c r e a s e d 2 p e r c e n t , and c o n t i n u e d , above t h e y e a r - a g o l e v e l . Tbo a v e r a g e p e r i o d c h a r g e a c c o u n t s were o u t s t a n d i n g was n e a r l y 47 d a y s , a b o u t one day l e s s t h a n i n May 1 9 4 3 . Cash and c h a r g e - a c c o u n t s s l c s i n c r e a s e d s l i g h t l y f r o m A p r i l t o May, when a d e c l i n e i s u s u a l , and were s u b s t a n t i a l l y above t h e l e v e l of May a y e a r a g o . Cash s a l e s c o n t i n u e d t o a c c o u n t f o r more t h a n t h r e e - f i f t h s of t h e t o t a l . I n s t a l m e n t s a l e s showed l i t t l e change from A p r i l , and were o n l y 5 p e r . c e n t below t h o s e f o r t h e c o r r e s p o n d i n g month of 1943* Department S t o r e S a l e s , A c c o u n t s R e c e i v a b l e and C o l l e c t i o n s Percentage . A p r i l 1944 to .'May 1944 S a l e s d u r i n g month •• Cash , Instalment . Charge a c c o u n t A c c o u n t s r e c e i v a b l e , end of month Instalment accounts Charge a c c o u n t s f C o l l e c t i o n s d u r i n g month Instalment accounts Charge a c c o u n t s ; + 5 - 1 + 8 . - change f r o m : May 1945 . to ' ' ' May 1944 , - 4 4 + + 25 - 5 + 16 . -16 . + 4 - 1 + 2 ~~ -SO + 9 R a t i o of c o l l e c t i o n s d u r i n g month t o r e c e i v a b l e s a t b e g i n n i n g of month May '1944 InstfImer.t accounts Ol'.'Tgc - i c c o u n t s r - Revised. 33 64 April 1944 . r31 65 May 1943 30 63 DEPARTMENT STORES, Cash and C r e d i t S a l e s , by F e d e r a l R e s e r v e D i s t r i c t s Federal Reserve -- D i r s ' t r i c t . • I n i e x e s ; 1341 a v e r a g e - 10! J a s h s a l 35 I n s t ; ilrri'.vnt * l e s . ' C'lar^o-accouir May ' Apr. May May Anr. Kay f.:ay A nr. 1944 1945 1944 1344 1944 1943 1944 1944 Boston' . I'Jev: York • Philadelphia Cleveland Richnoud Atlanta Chicago S t . Louis Minneapolis._ Kansas C i t y Dallas Ran. F r a n c i s c o 169 146 172 177 191 263 176 187 10% 238 309 21% 166 134 . 166 168 168 5&1 ]70. 173 1$-) 217 276 r208 142. 119 142 144 • 161 182 140 143 147 184 227 178 U. S . T o t a l 180 fl71 145 51 63. 63 • 57 54 64 57 • 65 " 64 56 . 65v 48 54 rCO 57 56 55 85 60 64 ,77 62 69 ' :-48 54 .63 54 62 53 51 64 60 . 63 61 61 70 59 61 50 96 87 98 97 104 107 90 94 88 98 116 97 103 103 90 99 rl05 116 117 104 .10-1 121 • 131 137 107 100 115 101 111 109 109 116 138 124 108 rl06 112 solos Kay 1943 96 104 A c c o u n t s R e c e i v a b l e and C o l l e c t i o n s , by F e d e r a l R e s e r v e D i s t r i c t s C o i l : nt i on 45 47 47 •'-1 45 89. 73 88 . 83 GO83 8:> 85 77 77 85 73 87 77 • 86 78 77 82 81 79 75 75 r82 r73 6-6 76 80 75 . 71 "-2 7V 75 65 71 79 72 30 -•-'6 31 • 35 27 27 41 •41 33 3-7 34 37 45 8.7 79 V- ' 33 Zeston . I.TTv York P h i l - i d e l phi a" 0.1 o v e l a nd Richmond " \ A.ti.:-.rta, "Chiupgc ' "St. L o u f s Llinnc.anclis. Kansas C i t y Dal]as San F r a n c i s c o 32 4638 36 43 38 30 .'4. 37 37 32 31 r33 48 38 37 - -;-5 41 31 35 40 40 32 . 33 42 • 52 45 43 49 43 .U. S . T o t a l 36 38^ * Char3 tints I n ;talme; i t Apr". Eay May May May 1344 1943 1944 1 9 ^ 1943 If / • c c o u n t s o u t s t a n d i n g ' , end of Month In.Texea; 1.941 a v e r a g e = 100 Charge a c c o u n t s Federal Reserve In, at a l n e : i t ay Kay .District A p r . Kay May Anr. 13.44 -1944 ] 9 4 5 1944 1944" 1545 29 24 30' .35 26 27 40 3.9 40 38 35 35 J-31 27 ' . 24 59. 33 26 25 39 32 36 33 28 32 57 55 64 65 58 54 71 69 76 70 66 73 54 52 r61 64 55 52 71 68 77 71 65 72 55 ' 52 62 63 57 55 72 68 78 69 62 68 30 64 65. 63 r-I.evised. * — C o l l e c t i o n s d u r i m ? :r-onth a s p e r c e n t of a c c o u n t s a t b e g i n n i n g of no n t h . Note: T h e s e date- a r e basac--on - r e p o r t s of a b o u t 47:3 ler.«-e d e p a r t m e n t . s t o r e s r e p o r t i n g s a l e s by. t y p e of t r a n s a c t i o n , mo re t l i o a 400 h a v i n g c h a r g e no c o u n t s ond a b o u t 500 h a v i n g i n s t a l m e n t a c c o u n t s . Back f i g u r e s r.oy be - o b t a i n e d on r e q u e s t •- from .the-Divisi-o-n of R e s e a r c h end- S t a t i s t i c s . • "