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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 - • •"

+ 5
- 2
+: 5".

;
::^

+ .4..
,+63
•
+20 ..

+ 3 '
+2

i V
.
;

+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 .