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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
•

J u l y 7, 1943
R&S dsc — 8

.

DEPARTMENT STORE. .CREDIT

'' "

May 1943
I n s t a l m e n t accounts o u t s t a n d i n g a t department' s t o r e s d e c l i n e d
7 per cent i n May, and continued 48 p e r cent below the l e v e l of a y e a r
ago. C o l l e c t i o n s on i n s t a l m e n t accounts decreased 7 p e r cent i n 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 ,30 p e r cent,; as compared w i t h 31 f o r
the preceding month and 22 f o r the corresponding month l a s t year*
•Charge accounts r e c e i v a b l e were reduced somewhat i n May, a s i s
u s u a l a t t h i s time of the year> and a t the e?id of the month were 24 p e r
cent below those on the corresponding datet of 1942. C o l l e c t i o n s on charge
accounts remained a t the l e v e l of the prb ceding month, and the c o l l e c t i o n r a t i o was unchanged a t ' 6 3 . ' A y e a r ago i t was 50.
In May, both cash and c r e d i t s a l e s a t department s t o r e s showed
p o s t - E a s t e r d e c l i n e s . Cash s a l e s , - which -continued to account f o r about
t h r e e - f i f t h s of the. t o t a l , remained s u b s t a n t i a l l y above the y e a r ago l e v e l .
I n s t a l m e n t s a l e s decreased 19 p e r cent from the preceding month b u t were
only 7 p e r cent below the volume during the corresponding month l a s t y e a r .
Charge-account s a l e s d e c l i n e d l e s s than i s u s u a l from A p r i l to May and
were 4 p e r cent above the corresponding month of-1942.
Department Store S a l e s , Accounts Receivable and C o l l e c t i o n s
Percentage change from:
x"

'

'

' May 1942
to
May 1943

A p r i l 1943
to '
May . 1943

S a l e s during month .
Cash
•
+34
- 9
Instalment
. - 7
-19
+ 4
Charge account
- 7
Accounts r e c e i v a b l e , end of month ' I n s t a l m e n t accounts
-48
- 7
Charge accounts
-24.
- 4
C o l l e c t i o n s during month
I n s t a l m e n t accounts
-29
- 7
Charge a c c o u n t s '
0
- 9
Ratio of c o l l e c t i o n s during month to r e c e i v a b l e s a t beginning of month
" May
19^
Ins ta lme n t accounts
Charge accounts .




30 .
63 •

...May
1942-

, - April
1943
31
63

.

22
50

12Department Store Cash and Credit Sales,
by Feclerr.l Re servo D i s t r i c t s
j Chcrge-Account s a l e s
Cash sc.les
Instalment, s a l e s
For centaur change from: Percentage change from: Percentage change
April 1943 May 1942
April 194;
Hay 1942 April 1945 Hay 19Z2
to
to
to
to
Feder al Re sorv.;
. to
to
Ri-strict
:'c.y .19!;;
Rry 1943
Rr.y 194;
Ur.y 192:3
z:r.y 1943 '
Hay 1943
Boston'
I"e-r York Philadelphia
Cleveland
Richr.n::
Atlr'nR: %

-

-

St." Louis .
:
Rime .polls
•'
Fansa: L i t y
|
Rrllr.s . '!
So:. F r a n r i s c o [

11
10
11
11
4
4

-

!

- i4
- 13
- ic
- 2

1
i

!

•;

+

+
' . , • +
• +
-

- 25"
- 15
- 28
- 11
-.21
- 7
- 23.
- 59
- 35
- 5
- 21
1 • - 15
- 19

2?
+ 18
+ 26
+
55 •
+ 54 .
•+ 56
'+ 32
.
+ • 51
+ 39
+ 56 / 1 •

- + ;G

"

18
2
12
lii
15
9
.6"
16
15
8
5
4
7

+
+
•' +
+
+
-

• - 7
- 5
0
- 5
-10
-14
-If:
- -11

+

+
+
+
+
+

- 7

!

2
2
1
4
2
13
1
3
10
12
24
10
4

7

"

jjepartr.e nt Store Accounts P.ecqi 7;bio rr.d C o l l e c t i o n s ,
dv Federal' he servo: il s t r i c t c
I Accounts o u t s t i r d i n r , end _of
'
nor.th
l l n J e x s r : Fee.
1:$9 = 100
./ r -c . ccour.tr

i Ho serve

&

i : R ic^r' ]: 5
Boston ..
Re ./ Rcrh
:hil-d-:phi[.
Tlev-: land
:"i
At 1 a n Chic-rdy
.'

12
- j

,
-

r

S.-:. 7r

-

i 86
90
: 85
101
94

6L-

~

:'
1

1 r,k
• u2 I
IC:

A -:
:

:

•-'1

r -2 | r ^
1
^r'
6., 1 "8

70'
61

,

62
s
_1 .
62 !

! •i i

- rlr.- zonth as per cent

|

/

_2

0.

81
j 88

I n s t Mr t
Anr r
3 ; ! '19 ~ U -

>-

1

1

~L :'.ccounts
• rif
" 1 1943 1942
*

20 153
r 28
*5
20 52
r 24
52
21 65
31
r64
24 63
65
• 54 '
26
27
19 57
59
j 25
24
17 55 '
55
28 !72
41
75
2; 168
32 • 34
36
78 ;
r%9
22 69
54
55
j 2D
18 62
%2
27
1 52
22 69
r70
•55
22 63
30
51
65
i
27
24
2^

. ccounts ' t borinrii

50
44
50
5i
44
4o
59
56
53
52
45
55
50

of month.

jro basec
r e p o r t s @f
OEC.CTTr. To based on zjoports of ' b o u t 475 I r r g e d e p - r t n e n t s t o r e s r e p o r t i n g ,
-.los by t y - e of t r / n s a c t i o n , more t h r n 400 having charge recounts rnd about
h- ving i n s t Iment r ccounts. Br ck f i g u r e s m:y be obtained on roouest from
no Divisi'or; of Research ,-nd' S t a t i s t i c s .
.