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BOARD OF GOVERNORS OF THE FEDERAMBS&SKSJ3YSTEM
RA^J u i j 7, 19U9

G . 1 7 . 3

. . D E P A R D ^ 2 &10KE. CRED&f
•MAY 1.91+9
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 on May.31
showed l i t t l e change f r o m t h e l e v e l p r e v a i l i n g a t t h e c l o s e of t h e two' p r e r
c e d i n g months, b u t c o n t i n u e d s u b s t a n t i a l l y l a r g e r t h a n a y e a r earlier^..' 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 were up s l i g h t l y f r o m , A p r i l , and a g a i n
amounted t o 2 p e r c e n t of a c c o u n t s r e c e i v a b l e on t h e f i r s t of t h e m o n t h .
The a v e r a g e repayment p e r i o d f o r 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 i n May was
a p p r o x i m a t e l y s e v e n m o n t h s , 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 191+8.
Charge a c c o u n t s r e c e i v a b l e a t t h e end of May were unchanged f r o m
b o t h month-ago and y e a r - a g o l e v e l s . 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 i n c r e a s e d
5 p e r c e n t f r o m A p r i l t o May, b u t t h e r a t i o of c o l l e c t i o n s d u r i n g t h e month
t o b a l a n c e s o u t s t a n d i n g on t h e f i r s t , o f t h e m o n t h ' c o n t i n u e d a t 5 3 p e r c e n t . •
At t h e c u r r e n t r a t e , of l i q u i d a t i o n c h a r g e a c c o u n t s would be r e p a i d on t h e -- ;
a v e r a g e i n $ 6 d a y s , a b o u t one day l e s s t h a n i n t h e same month l a s t y e a r *
Both c a s h and c r e d i t s a l e s d e c l i n e d i n May,' and were somewhat below
t h e volume of t h e c o r r e s p o n d i n g month of 1 9 4 8 . Cash s a l e s , w h i c h a c c o u n t e d
f o r o n e - h a l f of t h e t o t a l , were, down 9 p e r c e n t from A p r i l t o May and 7 p e r
c e n t f r o m a y e a r a g o . S m a l l e r .'decreases were r e p o r t e d f a r i n s t a l m e n t and
c h a r g e - a c c o u n t s a l e s d u r i n g t h e month as w e l l as over! t h e y e a r - p e r i o d .

Department S t o r e S a l e s , Accounts R e c e i v a b l e and C o l l e c t i o n s "
1

• Item

'

S a l e s d u r i n g month
Cash
Instalment
Charge a c c o u n t
Accounts r e c e i v a b l e , end of month ;
Instalment accounts
Charge a c c o u n t s
.'

:

P e r c e n t a g e change f r o m :
May 19U8
A p r . 1949
to
to
May 19U9
' May 19U9

-9
-3
-5

.

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

- 1
- 1
- 1

0
0

•

+13
0

+1 .
+
5 ,

'

+
iU
.+ 2

.

.

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 month
-.
Bay ' .
. Apr T : . - May
1949
19W
19WInstalment accounts
Charge a c c o u n t s

•2h

2b

•2k

53

53

52

N o t e . — F i g u r e s f o r . H a y 19U9 a r e - p r e l i m i n a r y and s u b j e c t t o r e v i s i o n .




DEPARTMENT STORES -

MAY 1 9 4 9

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
Di s t r i c t
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta
Chicago
S t . Louis
Minneapolis
Hansas C i t y
Dallas
San F r a n c i s c o
U. S . T o t a l

May
1949p

I n d e x e s ; 1941 a v e r a g e = 100
Charge.- a c c o u n t s a l e s
Instalment sales
Cash s a l e s
;.:&y
Apr.
Hay
May
Apr.
May
May
Apr.
1948
1948
1949
1948
1949
1949
1949P
I949P

21b

246
207
224
231
242
300
2%
229
273
291
289
225

219
214
218 .
215
235
297
227
228
256
301
299
225

179
169
178
199
183
279
159
223
188
223
292
147

210

'
!

189
207
20L"
223
272
214
217
242
265
'
263
2#

232

227

204
159
178
189
181
, • 200
211
208
164
149:
251
236
165
171
216
236
182
223
202
238
238 1 259
165
145

182

188

184

205
179
222
215
210
252
210
209
239
219
258
202

226
189
229
231
212
268
217
214
255
231
268
219

202
138
220
215
210
253
213
212
244
232
269
209

210

221

213

Accounts 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 h e s e r v e D i s t r i c t s
Federal
Reserve
District

Accounts o u t s t a n d i n g . e n d of month
Collection rartios*
I n d e x e s : ; 1941
r a g e = 100
Charge a c c o u n t s
Instalment
Instalment
Charge a c c o u n t s
Hay A p r . May
i,ay A p r . I.:ay
May A p r . May
l a y A p r . May
1949P 1949 1948 1949P 1949 1948 1949P 1949 1948 1949P 1949 1948

Boston '
New York
Philadelphia

120
130
164
1 183
Richmond
130
Atlanta
234
Chicago
111
St. Louis.
169
Minneapolis
144
Kansas C i t y
. j 175
Dallas
232
San F r a n c i s c o .
150 '
U. 3 . T o t a l

152

121
165
182
129
223
110
167
144
166
228
150

111
115
151
152
103
183
107
146
145
183
222
130

151 '134

190 198
175 173
221 217
201 200
177 ! 176
200 198
184 182
227 2 2 4
191 191
190 194
199 199
1 8 5 . 185

189
174
205
210
172
194
151
215
198
188
196
187

22
27
20
22
19
18
41
23
24
24
21
25

19
23
20
22
19
18
40
26
26
23
21
• 27 .

21
24
21
24
22
19
34
25
27
23
19
29

44
49
50
53
40
38
65
51
60
53
58
65

47
48
52
53
39
39
64
52
63
56
59
64

44
48
53
50
37
39
62
53
57
57
60
61

192

192

24

_24

24

53

53

52

191

P - Preliminary.
•
*
C o l l e c t i o n s d u r i n g month as p e r c e n t a g e 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
month.
•
NOTE.— These d a t a a r e b a s e d on r e p o r t s of a b o u t 475 l a r g 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 , more t h a n 400 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 -300 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 may tie o b t a i n e d on r e q u e s t f r o m t h e D i v i s i o n of R e s e a r c h and S t a t i s t i c s . .




.