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BOARD OF GOVERNORS OF T I E FEDERAL RESERVE SYSTEM

(
- ' :

'

.

J u l y s , 1945
R&S d s c - 32

:

DEPARTMENT STORE CREDIT .

"

KAY19L5

.

:

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
u s u a l s e a s o n a l d e c l i n e i n Hay, and a t t h e . end of t h e month w e r e I4 p e r • b e n t b e l o w
the year-ago l e v e l .
C o l l e c t i o n s o n ' i n s t a l m e n t accounts- were reduced s l i g h t l y ,
b u t t h e c o l l e c t i o n r a t i o r o s e two p o , i n t s t o
per cent.
Instalment accounts
w o r e o u t s t a n d i n g , on t h e a v e r a g e , a b o u t f i v e m o n t h s , a p p r o x i m a t e l y . t h e same
l e n g t h of t i m e a s i n May I9I4I1..
C h a r g e a c c o u n t s d e c l i n e d s l i g h t l y i n May, when l i t t l e c h a n g e . i s u s u a l ,
b u t w e r e 7 p e r c e n t l a r g e r t h a n a y e a r a g o . C o l l e c t i o n s on c h a r g e a c c o u n t s
d e c r e a s e d U p e r c e n t , 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 6I4. p e r c e n t , a s compared
w i t h 62 p e r c e n t i n . t h e p r e v i o u s m o n t h . C h a r g e a c c o u n t s w e r e c o l l e c t e d , on
t h e a v e r a g e , i n Wl d a y s , a b o u t t h e , same a s i n t h e c o r r e s p o n d i n g month of I9I1I4.,
Cash and c h a r g e - a c c o u n t s a l e s i n c r e a s e d s u b s t a n t i a l l y f r o m A p r i l
t o May, and wore somewhat a b o v e t h e 19J4J4. l e v e l s .
Cash s a l e s c o m p r i s e d a p p r o x i m a t e l y 6 3 p e r c e n t 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 a c o n t r a s e a s o n a l • r i s e
i n May, and w e r e i n a b o u t t h e same volume a s a y e a r a g o . . . . . . . .
.. - ..

• . D e p a r t m e n t 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; change f r o m :
A p r i l 19U5 • . May 1 9 %
to
to
May 19U5
Kay I 9 k 5

S a l e s d u r i n g month
Cash
Instalment s
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
C o l l e c t i o n s d u r i n g month
Instalr.ent accounts
Charge a c c o u n t s

'>

*11
+12

+ 5'
+ 1
3.

-

4. 8

+

- 5
- 1

-h'
+ 7

•

*-• .
'

•
•

- 8
+11 .

• - - 3
- k

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 a c c o u n t s r e c e i v a b l e a t b e g i n n i n g of m o n t h
April
May
. Hay
191+5
I9bh
19L5 .
• Instalment accounts
Charge a c c o u n t s




'
'

- '

'

32
6k.

,

v

30 •
62.

33
: 6k'

DEPART: 15: T' STORES - - - IUIY l p L 5
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

District

.

' •

Dos-on'
163
::e\v York
155
P h i l a d e l p h i a ! 181
.Cle;%la,nd
162
Ri 2hn.o:.d
' 191
A"laz.:a
26L
Cnlcaro
15)
3%. L o u i s
195
212
Xinneapolis
Ki=-:sas C i t y
262
Dallas.
333
San F r a n c i s c o
239
..

S.

:c - a l "

I n d e x e s ; . 1 9 - 4 a v e r a g e = 100
barge-account sales
Instalment sales
-••"rii
April
1 ^
S u
19L5

Cash s a l e s
.vim
:9L5

190

& %
168
11:6
173
177
19.2
.263
176
189
193
238
307
213

• 155
1U2
159
167
160
285
166
177
191
233
r 256
r 212

hi
61
53
53
56
62
|! h9
! 72
; 56
1 52
77
ids

160 "

r 171

r 51
. Uo
• 50
5i
U5'
71
hi
1
55
65
60
.65
• r U;

51'
L2
*
63
57 '
3h
64
57
65
66
' 56
•65 .
18
.

h9

55

n o
.101
117
m
120
135
no
119
117
122
158
123
117

i'h

107
99
102
107
106 .
139
101
107
105
109
r 151
.112
r 108

109
105
115
117
121
131
108
116
111
116
138
.109
113

d Goll'e c t i o n s , by F e d e r a l R e s e r v e p i s t r i c t s
c o u n t s o u t s t c . n a : i i / , ond of n o n t l i
lnzoy.es;
19U1 a v e r a g e = 100
Dis:ric-.

|Ar5:

Si

kl
5
• ! 7l. 1 3 8
1
1
36
7
JC
, 30

36
ho
38
36
W
36
31
?
M
37
37
32
31

:-%y
'-pril
[l>3
19W;
Dh5
J
=r 96
89
1 92
, oh
.79
1
88
!
Ji
90
! 9u
03
r 88 ! 80
j
' 0.3
92
|
r
. 83
o
85
! •-;o ' 89
' 82
77
% • 78
ft : 9 1
85
73 .
' lr 8 3 ,

j 37

37

| 07

April
" V-5

; ^
-

Philr.-cel^hu

hi
J

^

i

37
*LI
58
, JS
31

35

!

88..

82

Collection ri.tios*
Ins-alnent
Charge a c c o u n t s
April
Llay I'uy A p r i l
1915 1 9 U : 19L5 19L5

a

&

2 5 r. 2h
26
27
31 ' 30
3U33
26
25
27
27
32
35
36
38
37
37
38
: 37
29
31
.36
37

29
26
31
35
27
- 27
L6
hi
39
37
3L
37

58
56
65
63
57
52
71
68
76
73
65
Ih

30

33

6U

32

5h
"
53
61
61
r52
50
69
68
73
Ih
65
69 .
r

62

57
55
6h"
65
50
5U
72
69
76
70
66
73 '
6h

s c u r i n g r.c-nth a s r-c-r c e n t of a c c o u n t s r e c e i v a b l e a t b e g i n n i n g of
a ^ a a r e b a s e d ' on r - . - i o r t s of a b o u t LiJ5 ' l a r g e d e p a r t m e n t s t o r e s r c p o r t l e s by t y p e . of
ra
c n o n , n o r e t h a n I4.OO h a v i n g c h a r g e a c c o u n t s
and a b o u t 3 % h a v i n g i i s t ' l - n ' a c c o u n t s .
Back f i g u r e s n a y be o b t a i n e d
or. r e q u e s t f r o n t h u D i v i s i o n of .Research and S t a t i s t i c s . '