Full text of G.17 Department Store Credit : July 7, 1943
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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 . .
