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13%_
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
G*17.3

- •:
'-

L9li8

DEPARTMEBTcS®2& CREDIT \
. /"'Si'mi

juL

71343

1

'

Instalment.; accounts outstanding at department stores showed, a further
small rise in May, aiad continued '.around two-thirds larger than on the corresponding date last year. Collections on instalment, accounts were in about the
same volume as a month earlier, but the ratio of collections to instalment accounts outstanding oh May 1 was 2L jper dent!, one point below the April ratio.
At the current rate of collection, accounts would be repaid, on the average,
;
in seven'-months.
•"
>
Charge accounts receivable remained' ait tjie level of the preceding
month, but were 1 5 per cent higher than on May 31 a year ago. Charge-account
collections during the month showed a 2 per cent rise, and the collection ratio
of 52 per' cent was one point higher than in April. { The average repayment
period for accounts outstanding in May again amounted to approximately 58 days.
The volume of sales, both for cash and on credit, shewed little
change from April to May. Cash sales, which made up 52 per cent of total
sales in May, were down 5 per cent from the year-ago level. Instalment sales
continued to show a substantial rate of expansion over the year-period, but.
charge-account sales were up .only 6 per cent from May 19i*7.

Department Store Sales, Accounts Receivable and Collections
Percentage change from:
April-19^8
May 19k7
to
to
May 191*8
May 1918

Item

Sales during month
Cash
. Instalment
Charge account

.

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

;
•

'
; .
•
'
)
;

- ;

.

,
.
i
i

;
f 3
. - 3
+ 1

- 5

'.
+ 3
0

''

.11

•
+ 1
, + 2

+35
+ ?

Ratio of collections during month to accounts receivat'le at beginn: .ng of month
May

19h8
2h

Instalment accounts
Charge
 accounts
http://fraser.stlouisfed.org/ May 1 9 W
Note,—Figures for
Federal Reserve Bank of St. Louis

,•

52

Apr.
. 22#
25 •
51 •

are preliminary ancf subject to revision.

May

19h7
, 30
.56

G.17.3

.

-, '

' - 2 *

DEPART2^T STORES- MAY 19k8
Cash and Credit Sales, by Federal Reserve Districts
• Federal
Reserve
District
Boston '
Ne" York
Philadelphia
Cleveland Richmond
AtlantaChicago :
.St. 'Louis
Minneapolis'
Kansas .City
Dallas .
San Francisco
U. S. Total

=
Indexes; 1911 average = 100
Charge--account sale:
instalment
Cash sales
.^y
Apr.
May
; Apr.-, May
' May _ Apr. • Mgy.j-;
Hay
l & W p . 1918
19L8
19L7
19k7
'19k8p
19ix7 - 19k8p
19k8
212
212
202
202
I 20k
328
.228'
' 219
259
292
303
218

219
21k
218
215
235
277
230
228
256
297
298
226
227 -

222

217"
223
230.:
226
250
300
2k7
2L3
265
310
310 .
218

159
178
181
211
l6k .
28a
172
220
182
239
259
166

2kl

183 J . 150
181V
131
176 , 126
153
21k
128
138
288
1824
18,0
. 13k
.231
131
2k9
1^0
2ii9
183
307
127
171

187 ,

192

202
188'
. ^0.
.. .^15 .
"210"
.220
. .212
211
"2kk
231
269
^209

• 202
179
203
20k
201
278
21k

230
273
20k
209

139/ ' 212

187
178
2C6
207
211
211
198
207
210
203
255
197
201

Accounts Receivable and Collections, by Federal Reserve Districts
Accounts outstanding,end of month
Collection ratios'""
Indexes; . 19ki average = 100
Charge accounts
Instalment
Charge accounts'1
Instalment
• May Apr,. May... . May Apr. May
Hay
May Apr. May- -May
19k8p I9k8 19k7 19k8p
19k7 19k8p 19k8 19k7 19k 3p 19k8 19k7
|
f

' Federal
Reserve
District

Boston 'New York
Philadelphia
Cleveland
Richmond
Atlanta r
/
Chicago :
St. LouiS "
Minneapolis ;
Kansas City
Dallas i ^
San Francisco
U.- S. Total

111
115
.151
161
103
182
107
Ik5
152
183
227
130

113
113
lk9
lk8
101
173
10k
lk2
151
179
21k
129

13j5

131

83
189
199 176
- 7 & —~3r7"it --172-~ -155
200 177
86
205
205
207 17k
99
171 167
172
73
91
193 l6l
19k
188 166
62
191
211 181
21k
78
211
205 172
90
80
18k 157
188
221 168
219
92
186. 161
76
187
81

193

192

167

21
19
2k
kk
kk
. b8_ .1*9
-.2k .2k..
21
28
21
52
53
50
k8
2k • '2k-' 27 22
22
2k- : ; 37 36
20" .'28^ " I k O
19
39
1
62
k7'- : 62
3k' --35
26
2k
36
53
53
56
: 25. 29
32
5k
56
56
25
23
37
56
53
19 . 19 30
60
61
28
29
33

k6
k7
57
56
k9
k5
65
59
61
61
63
6k

30

56

2k

- 25

52

5i

'
p. - Preliminary.;""' '
'
* - Collections during month as percentage of accounts receivable at beginning
. of month.
•
;
Note.—These™datia are based on reports of about k75 large department stores
-reporting sales by type of transaction, more than kOO having charge accounts and
t cab out 3C0 having /instalment accounts. Back figures may be- obtainedrtin request from
Digitized forDivision of xfe'search and Statistics. "
•the FRASER
'