Full text of G.17 Department Store Credit : July 7, 1949
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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 • . 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 -9 -3 -5 - 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 ' ! 189 207 20L" 223 272 214 217 242 265 ' 263 2# 246 207 224 231 242 300 2% 229 273 291 289 225 219 214 218 . 215 235 297 227 228 256 301 299 225 179 169 178 199 183 279 159 223 188 223 292 147 210 232 227 182 204 159 178 189 181 , • 200 211 208 164 149: 251 236 165 171 216 236 182 223 202 238 238 1 259 165 145 188 184 205 179 222 215 210 252 210 209 239 219 258 202 226 189 229 231 212 268 217 214 255 231 268 219 202 138 220 215 210 253 213 212 244 232 269 209 210 221 213 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 . . .