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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 . •
"