Full text of G.17 Department Store Credit : June 1, 1944

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BOARD OF GOVERNORS OF TIIE FEDERAL RESERVE SYSTEM
.Tune 1, 1944 '
m s dsc - 10^
" m .

DEPAMTvIEOT STORE CREDIT

• Instalment accounts outstanding at department stores declined during
April bv somewhat more than the usual seasonal amount, and continued 22 per cent •
belov.r the level of a year ago. Collections on instalment accounts decreased 13 per
cent in April resulting in a.collection ratio of 32 per cent as compared with
36 per cent in the preceding month. The .average period that instalnent accounts .
were outstanding w a s about five months, approximately the same' length of time as
:
in April 1943. '
Charge accounts receivable regained at the March level, although a
rise i s usual at this time, but continued slightly above the year-ago level.
Collections on charge accounts increased 8 per cent, and were in somewhat larger
volume than a year earlier. Charge accounts were, outstanding, on the average,
nearly 4 8 days in April, the same as.in the corresponding month of 1943.
In April, cash and credit sales.showed declines from the unusually
large volume" of the preceding month. . Cash-sales, which accounted -for about
63 per cent of the total, were 8 per cent above those for April 1943. Instalment
sales declined about one-fifth over the.year-period, while charge-account sales
were in about' the 'came volume as in. the corresponding .month of 1943.

Department'Store''Sales, Accounts Receivable.and Collections

%

from:
Eercentage c!
-pril 1943
March 1944.
to
.
to
April 1944
, # r i l 1944
Sales during month
. '
Cash
:
Instalment
Charge account
Accounts receivable, end of month
Instalment accounts
Charge accounts.
„
Collections during month
'
.
Instalment accounts
^
Charge accounts
•
'
Ratio of collections during month to -receivables.

Instalment accounts
Charge accounts


r - Revised,


6

+ 8

-20
- 9

-21

- 5
0

-22
+ 1

-13

-21

-

'

. +

0

8

beginning of man
April

March
1944

' "32
63

36.
r 65

April
1943
31
63

DEPARTKFl'IT STORES
Cash aha Credit Galea, by Federal'Reserve Districts

Federal Reserve
'District

J'.VI'.

1944
166"
154
163
168
168
?84
170
l'?5 "
180
217
276

.Boston
TJe'.f York
Philadelphia
Cleveland
Rich::ond
Atlanta
Chicare
St. Louis,
Minneapolis
Kansas City
Dallas
San Francisco

211 '

- ]00
Indexes; 1941 average
Cha r «o -accoun
Instalment .
Ofsh sales
Mar.
Apr.
Apr.
Mar.
Apr.
Apr.
Mar.
.1944
1944
.1043
194-3 >
1944
1944
1944
155
150
rl92
179
184
266
176
193
190
£31
291
225
]83

U. S. Total

159"
151
159
161
167
19]
155
155.
170
200.
22'8
190.

54
61
57
56
55
G5
60
64
77
65
69
53

159

59

71
75
75
69
67
54
81
86
- yo
80
73
83

r66
81
r79
71
70
91
r61
79
30
r-71
83
79

sales
Apr.
1943

103
90
106
104
104
157
100
101
109
109
134
105

104
98
rl21
112
122
133
108
117
107
118
118

104
92106
105
104
112
101
105
104
109
121
105

104

. 114

103

Accounts Receivable'and Collections, by Federal Reserve Districts
Accounts outstanding, end of month:
Indexes; 1941 average.= 1 0 0
1 nstalr.ent
a c c yunts
Char,
Apr." i.'ar.
:,:ar.
1944 1944
^ 1944 1944 1945 1944
If

• Federal iie'jorve
District

55 .
Best.;:;
34
New York
48
51
38
Philadelphia
40
• 57
38
Cleveland
Richmond
45 ' 45
45 .
Atlanta
43
' 53
Chicago
51
55
St. Louis
55
• 40
Minneapolis
43
Kansas City
A0
r44
52
Dallas
r33
55
33
.
- San Francisco
U . S . Total"

58

40

45
57
46
45
53
48
45
50
52
51
43
49
49

87
77
8678
77
' 82
81
79
75
75
81
74
79

82
89
29
78
76
24
87 '
83
30
77 '
78
35
77
7.4
26
75
84
27
77
82
40
.82
80
39
71
40
: 72
58
76 • 79
86
81" . 35
75
7.6
35
70

78

32

Collection ratios *
lo'ar.
19,4
. 51
28
35
53
30
30
'45
42
43
r4 5
38
r41
36

^nt
Char.c'5 accounts
Apr. Apr. - b'.o r.Apr.
1943 1944 1944 194?

24
41
54
39
34
2'7
33

54
52
62
64
55
52
71
68
77
71
65
72

57
,55
65
66
58
54
72
69
r79
r72
67
r72

55
5264
65
59
54
73
68 •
79
68
62
69

31

63

r65

63

28
• 24
31
34

* - .'Collections durir:*z month as per cent of accounts, at beginning of month.
Note: These data are based on reports of about 475 large department stores reporting
"'••sales by type of transaction, more than 400 having charge accounts and about
500 having instalment accounts1. Back figures may be obtained on request
from the Division of Research and Statistics.