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BOARD OF GOVERNORS OF THE FEDERAL' RESERVE SYSTEM'
June 2 , 1945
R&Sdsc - 3 1 /

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^

DEEARHIMT;STORE CREDIT'''' '

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vy---

- .

-- AfRlL 1945

I n s t a l m e n t a c c o u n t s r e c e i v a b l e a t d e p a r t m e n t s t o r e s -showed a b o u t t h e
u s u a l s e a s o n a l d e c l i n e i n - A p r i l , and c o n t i n u e d s l i g h t l y b e l o w t h e y e a r - a g o l e v e l , .
C o l l e c t i o n s . cm i n s t a l m e n t a c c o u n t s d e c r e a s e d 16 p e r c e n t , 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 30 p e r c e n t , two 0 . 0 i n t s b e l o w t h a t of. A p r i l 1944^
Instalment
a c c o u n t s w e r e c o l l e c t e d , on t h e a v e r a g e , , i n a p p r o x i m a t e l y f i v e and o n e - h a l f m o n t h s ,
a somewhat l o n g e r , p e r i o d t h a n i n A p r i l of t h e -preceding' y e a r *
C h n r s e a c c o u n t s o u t s t a n d i n g , d e c l i n e d 8 p e r ' c e n t " i n A p r i l when c u s t o m a r i l y
t h e y ' remain:' n e a r t h e Ivlaroh l e v e l . - ' At t h e end of the month ttjey/were' 12 p e r c e n t
h i g h e r than u. y e a r e a r l i e r , C o l l e c t i o n s on charge a c c o u n t s i n c r e a s e d - 7 per c e n t ,
and word' n e a r l y o n e r f i f t h l a r g e r • t h an i n t h e c o r r e s p o n d i n g .month l a s t y e a r . ' The
a v e r a g e period: charge a o o c u n t s w e r e - o u t s t a n d i n g was .around 49 v *days^ as compared
w i t h about 4 8 . days i n A p r i l 1944*
...
The volume -of -cash and! c h a r g e - a c c o u n t s a l e s , d e c l i n e d s h a r p l y . , in. A p r i l - , .
when l i t t l e c h a n g e i s u s u a l .
Cash s a l e s , w h i c h a c c o u n t e d f o r more t h a n t h r e e - •
f i f t h s of t h e t o t a l , - r e m a i n e d a t t h e y e a r - a g o l e v e l , w h i l e 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 s l i g h t l y over t h e y e a r - p e r i o d *
I n s t a l m e n t s a l e s w e r e .apor.oxima.te.ly ..
o n e - t h i r d s m a l l e r t h a n i n M a r c h , and amounted t-o a b o u t n i n e - t e n t h s of the- A p j u l .
1944 v o l u m e .
- . . . . . .
. .
.. .
......
.

DepaYtp.ent' S t o r e - S a l e ? , * A c c r o a h t s P.oc'eiva'ble and C o l l e c t i o n s
I
1
1

. S a l e s d u r i n g month ,
Cash
Instalment
.-Charge a c c cunt
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
.
Collections during.month
.
I n s t a l m e n t accounts
C h a r g e acc o u n t s

. P e r c e n t a g e change from:. ;
March 1945 ,- A p r i l 1944.
to
to
A p r i l 1945
A p r i l 1945
-25
-33
-24

•

.
.'
.

.
'

- .

- 6
- 8 •

. •
;

-16
+ 7.

0
-10
> 3 ^
- 3
+12

!
- 1 •' - . - 6
• ; |1
+19 '

-

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
; April
March
April
/
- .
1945
1945
' 1944
I n s t a l m e n t 00 c o u n t s
Charge a c c o u n t s




.30
62

36
66

32
63

DEPART 3TI: STORES - APRIL 1945
O-sh and C r e d i t S p i e s , by F e d e r a l Reserve D i s t r i c t s

April
! 1945

Dlo-

Boston
155
'
Ypr'k
' - , . 142
Ph-i'l- d e I p h i a
159
C lv v; l.i n ^ ^ _| 167
Rich-:r! 160 .
Atlanta , "
i "285
Chifner
. i"' 1SS
Sj;,.:\-ir.
, 177^
X i n n d a o o l i s . , 191'
Ronsas C i t y
; 233
:
rc
'
| 2P0
"""oisco21?
?:tal'

172

C 9 sh s" Ie s
•'arch A p r i l
1^5
1944
| 166
I 134
i 166
, 168
I 169
[284
I 170
..172
i 193
304
I 21?
355.
290
271. .
207.
2 3 0 . - ^ 171
!

Accounts 3c cc-ivnl>l_e

r

I n d e x e s ; 1941 a v e r a g e = 100
Instalment' sales
I C h a r ^ e - a c c ount
A p r i l T~Maroh
A p r i l A p r i l | : larch I A p r i l
1945 ! 1945
1944
1345
1945
1944
r
j.
55
'73
54
1.07 j ' r l 3 6
103
. 81 .
42
99
I 122
I
4b
95
r87
57
102
rl44 :
.105
: 1?.
64
" 56107 I 145
104
45 .
• 77
55
106
104
I 149
• '
?!
85
85
139
137
I 192
I
47
63
53
101 I 133
100
I.
55,.
62.
63
107 ! 142
101
' 0 7- '
I
65
70 '
105 .1 14.2
109
I- 60 -r< . 73
62
109 I 144
109
l ' 65 -( . 79 - "69.
137 •
1?4 .
1
45
( • r53
\
48 •
112 '
106
!
• )

|

!

49-!

I

107

I

141

104

n'd^ C.-1 ie c t i oros , by F e d e r a l R e s e r v e D i s t r i c t s

Accounts . - u t s t r n d i n g f end -if -month '
Federal
C lection ratios*
Indexes;
1941 a v e n g e = 100 •!
Reserve.
Instalment
• Charge acc o; n t s •
Instilment
I Charco r e c o u n t s
D i s t'r i c t
• — r• A- ~ ,T ! n"r.r, A p r . ' I Apr. " a r » lApr,
~ r pr • •
•
A p r . ! Mar.I A p r ; T - T ,1-t T
Apr T Mar.
1945! 1945 1 1944 1945 1 1945 1944' 1945 1 1 9 4 5 - 1 9 4 4 1 1945 1945'1944
T
I
. 5 7 ! 39 I 38 j 95
87
25
29
29 f 54
61
55
;
:
46 f 48 I 84
,
I ' 44
77
89
26
29
24 1 52
56
52
P.ii l i d~_lphia. ! ' 55
42 1 38 | 91 -104
86
30
.3.7
3.0 J - 6 1
64 1.61
Cleveland
1. 3 5 ; 37- i 37 1 90 •• 03
78
'33
37
35
61
65 l 64
Richmond
> 44
47 1 45 ! 87
77
25
94
31 ; 26 53
58 I 55
•tl-no! 44 ' 47 ' 41 j 92
82
27 I. 33 I 27
100
50
56 | 5 2 .
C .a i t ' 31 ' 32 ! 31 1 89
98
80 I 35
41
69
44
74 | 72
So. ! eu j s
: ! 34 ! 37 ! 35 ' 89
'
79
36
100
43 ' 39
68
70
68
Minneapolis
! 41 1 i"45 1 40
'
75
82
37
r94
r42
73
40 '
77
r81
Kensas C i t y
! . 3 5 i 41 ! 40
7G
37
84
92
4638
74
76
71
f
Dr. U s $
36 | 37 |1 32
91
95
82
29
34
- 65
35
68
65
Sar: F r a n c i s c o ! "30 1 r 3 3 ! 35
91 ! 73
84
36 1 41 1 35
69
74
72
.
•
f
|
I
!
S . T o t a l ' 37 I 39 I 35
79
8C
96
36
32
62
66
63
I
' I
r - r.eTised .
* - C ::11 r c t i s c u r i n r n ^ n t h . p.s pr-r ' c e n t ;f « c c a 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

30

J

v- e "«vti. r.?c b i s e d on r e p o r t s i f a b o u t 475 lar,~e d e p a r t m e n t r e p o r t ing s i I t s oy typo of t r a n s e c t i o n , m -r e t h r n 400 h i v i n g c h a r g e a c c o u n t s and
a b r u t vOO h a v i n g i n s t a l m e n t «acc • v n t s . Bnck f i b r e s ::ay be o b t a i n e d on
r e q u e s t from 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 ,