Full text of G.17 Department Store Credit : July 9, 1947
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BOARD OF GOVERNORS OF, THE FEDERAL RESERVE SYSTEL G.17.3 J u l y 9 , 1947 DEPARTMENT STORE CREDIT - ;• ... # Y 1947 / 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 showed a s m a l l i n - ' c r e a s e d u r i n g Lay,""although some d e c l i j i e i s c u s t o m a r y . 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 jb l i g h t l y from t h e p r e c e d i n g month,": and,- the" r a t i o of c o l l e c t i o n s t o 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 on Lay 1; was 29 p e r c e n t , t h e same as i n A p r i T v * - • The -average c o l l e c t i o n p e r i o d f o r i n s t a l m e n t account's o u t s t a n d i n g i n May c o n t i n u e d t o be a b o u t s-ix m o n t h s . \ r • . . • \ C h a r g e a c c o u n t s r e c e i v a b l e ] which u s u a l l y ' s h o w l i t t l e change ' i n May, • i n c r e a s e d s l i g h t l y , a n d a t t h e end of t h e month were, 30 pei" c e n t above i h e y e ' a r r a g o l e v e l , 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 ivere 6 p e n - c e n t h i g h e r t h a n i n A p r i l , 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: 56: p e r .bent asycompared with:-54 pfer '.cent f o r t h e p r e c e d i n g 'month. The a v e r a g e repayment p e r i o d f o r c h a r g e a c c o u n t s o u t s t a n d i n g i n liiay was 54 days a s compared w i t h 48 days a y e a r e a r l i e n . Both cash and c h a r g e - a c c o u n t s a l e s i n c r e a s e d 5. £)er c e n t i n May, w h i l e i n s t a l m e n t s a l e s were r e d u c e d s l i g h t l y . Cash s a l e s , - w h i c h ' a c c o u n t e d f o r 55 p e r c e n t .. of. t h e t o t a l f o r t h e t h i r d c o n s e c u t i v e month, were up o n l y 4 p e r c e n t f r o m t h e May . 1946 volume." The y e a r - t o - y ^ a r . i n c r e a s e on c h a r g e - a c c o u n t s a l e s was 2p p e r c e n t , b u t f o r i n s t a l m e n t , s a l e s the g a i n was 63 p e r ' c e n t . j 1 Department-S-t-ore S a l e s , • A c c o u n t s - R e c e i v a b l e and C o l l e c t i o n s P e r c e n t a g e changd" fr5rfli—• ' A p r i l 1947.;..:| . May- 1946 tot p . .. : ,May 1947 . May. 1947 : . S a l e s d u r i n g month " Gash v. • Instalment : .Charge; a c c o u n t ; ' ; • • . r , . A c c o u n t s r e c e i v a b l e ; , end of month • Instalment accounts Charge a c c o u n t s ' . 1 i 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 , •' ' • •' : i . r - • •" : i V . ; + 5 - 2 +: 5". ; ::^ + .4.. ,+63 • +20 .. + 3 ' +2 +82 +30 4-3 + 6 +46 +18 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 -May 1947 Instalment accounts : Charge accounts. -•-Apr...... .1947 . • • 29 29 56". ' -' ' 54 N o t e . — F i g u r e s f o r May 194? a r e p r e l i a n i n a r y a n d s u b j e c t t o r e v i s i o n . X. • : May I94.e 35 . 62 , . - 2 - SiORLS - 1917 Cash and C r e d i t S a l e s , by F e d e r a l Reserve D i s t r i c t s Federal Reserve •District - Cash s a l e s Apr. ...ay 19l7p 19L7 I n dexes; 19L1 a v e r a g e = 1 0 0 Charge-account s a l e s I n s t , ^Dnent s a l e s Apr. • Apr. $ 6 19U7p 19L6 19L7 19L7 19L6 19L7P ' 206 Boston 226 20L 155 130 212 Ner; York 22L .228 , 221 • 8 Philadelphia - 125 226 222 . . 153 Cleveland. ; . :2lL.229 ' -12H Richmond 21? ' .260. . 360 Atlanta 321 - 329 159 Chicago 2i;7 232 13.1 227 S t . Louis • . , 223 - 238 2L3 Minneapolis , . 271 289 273 ' • S : 150/ Kansas C i t y .290 295 ' .' 316 103 - 356' Dallas' 3139 g 129 San F r a n c i s c o v 2^3 252 U. S . T o t a l 230 2L1 233 ^ , 1 3 8 72 161 150 95 139 75 81 152 101 92 186 . 93 13.0 . 77 l6L - 100 162 131 109 92 187 111 72 119 111 85 "1S3 176 208. 207 211 223 197 206 203 199 256 203 202 ' 160 168 152 198 . 163 19ly172 172 191 189 ., 259 186 162 169 193. 210177 198 - ..172 2^L 231 196 175 . 192 169 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 'Reserve D i s t r i c t s Federal ; eserve District Accounts ou"c s t a n d i n g , end of month Collection r'atios I n d e x e s ; 19L1 a v e r a g e = 100 - Charge act; o u n t s ' Chari~e a c c o u n t s Instalment Instalment j . p r y . May ::ay Apr. l.:ay - a y Apr. May 1916 19:L7p 19L7 19L6 19L7p 19L7 1916 19L7p 19L7 19a7c 1917 a Boston 33 62 Fev; York 86 • PhiladelphiaCleveland I . 99 Richmond ' 73 Atlanta 91 66 Chicago S-t. Louis • 78 Minneapolis 90 Kansas C i t y 79 Dallas r 92 76 San F r a n c i s c o "U. S . T o t a l 82 . 86, 81. 80" 95 71 89 6L 77 95 80 88 7u 80 182 136. h6 176 23 . . . 2 0 , •2k 50 " 2)4 hi 31 51.., ..155 - 1 5 2 - ' 122 " 2 3 28 ' 1:1 170 127 29 177 57 3U J;6 28 27 36 56 169 171 132 29 167 ' 160 2h 25 • 51 12L h9 28 - 27 161 126 • hi 157 3it U5 6h • 36 169. 163 33 133 39. 50 131 36 : • 37 : 1x2 hh 175 130 59 61 • 36 32 5h 125 hh 172 . -170 •61 ho 120 156 . 150 .51 3.7 37 168 16L 30 29 31 . . . 6 3 139 -53 ho[ 161 160 36 36 129 . 33 , 6il . -Ii5 167 . 16k 129 29 29 35 56" uv L5 56 51 63 56 62 59 61 60 51 52 6U . 62 55 50 69 71 73 72 .65 68 5U 62 hS - h3 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 J month. • ' ' .MoteT^These d a t a a r e based on r e p o r t s of about L75 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 ing s a l e s by 'type of t r a n s a c t i o n , , more than liOO having charge a c c o u n t s - and about 300 having 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 b e 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 Research and S t a t i s t i c s .