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IRANSFER

U

h • BOARD OF GOVERNORS OF THE FEDERAL RESERVE. SYSTEM
June 4, 1943
R&S dsc - 7
DEPARTMENT StfORB. CREDIT .
• April 1943

Instalment accounts outstanding at department stores declined
4 per cent in 'April and remained at about one-half of the year-ago level•
Collections on instalment accounts declined 8 per cent in April but the
collection ratio remained unchanged at 31, as compared with 21 in the
, corresponding month of last year.
Charre accounts receivable increased slightly in April but at
the'end of the month they continued 27 per cent below the corresponding
date of 1042. Collections on.charge accounts declined slightly, re suiting
in an April collection'ratio of 03, 16 points above that for a year ago•
Both cash and credit. sal as fit department stores increased from
March to April, reflecting in part the effect of the late date of Easter.
Cash sales accounted for GO per cent of the total and were in much larger •
volume than a year ago. Instalment sales rose 13 per cent in April, but
were 21 per cent below the corresponding month of last year. Chargeaccount ales were onl^ 3 par cent below the year-ago level>
Sales by type of transaction, accounts receivable, and
lection ratios by Federal Reserve Districts are shown on page 2«

£.

Department Store Sales, Accounts Receivable and Collections
Percentage' change from:
' March 1943
to
April 1943
Sales during month
Cash
Instalment
Other credit

April 1942
to
April 1945

+ 9
. tl3
+ 5

+43
-21
- 3'

Accounts receivable, end of month
Ins t v . n r t accounts
'l-e.
C ' ' r--e accounts
.U

- 4
+ 1

Collections during month
Instalment -.-.ccounts
Charge accounts

,

.

-48
-27

.- 8

-24
-3

Ratio of collections during mon^h to receivables at beginning of month
' Aoril
1943 Instalment accounts
Charge accounts




31
63

March
1943

"April
1942

31
62

21
47

I

Department Store Cash and. Credit Sales,
by Federal Reserve Districts

Other credit sales

Instalment sales

• Cash

Percentage change from.: Percentage change from: Percentage change from:
Liar. .1943 April 1942
Federal Reserve ' I'ar. 1943 April 1942 Mar. 1943 April 1942
to.
to
to
" to
to
to
District
Ayr11 1943
Aoril 1943 Aaril 1943 April 1943 April 1943 Aoril 1943
. +19
+ 9
R^'York
+ 6
Philadelphia
+ 7
Cleveland'
Richmond
1 - +15.
Atlanta
;
-14
"
+ 7
Chicago
+ 5
St. Louis
Minneapolis""
+12
Kansas City
+10
+14
Dallas
+ 3
San Francisco
+ V
S. Total
'

+11
."+ 7
+16.
+13.
+ 7
' +14
+17
+41
.
+21
+12 '
+19'+ 2
: +i3

+36
+24
+43
+36
+39
+'35
+44
+41
- +54
+70
+102
+69
+43

+ 8
+ 5
+ 3
+ 6
+11
+ 6
+ 4
+ 2
+11
0
+ G
+ 2
+ 5

-20
-15
-14
-55
-27
-55. •
. -20
-13
7
-12
- 4 .
4
-15
. -21

•
'

- 4
-10
.0
- 0
- 6
+ 7
- 4
• - 4
+ "2
+21
+ 2
- - 5

;

.? >

Department Store Accounts- Receivable and Collections,
by Federal Reserve Districts : .

Accounts, outstanding, end
month
Indexes: Dec. 51, 1939 =

Federal deserve

Collection ratios* a
:

Instalment

j-priljMar.| April jApr.ilMar. April April Liar.. AprilApril |kar.
j
| 1 9 « 1943 |1943
1194211943 1S43 1942
•

Philadelphia
Cleveland -Richmond • .
'
Atlanta
Chicago
St. Louis'
Minneapolis .
}:ansas City
Dallas
.'San Francisco ^
- Y. S.'Iot-rT^

!

4 6

GO
45
54

1 GO
| 44
'

!

:

:

i

"

55
^

55

t •
"

55
50
57
r57

:"

54

S5

95
93
109
101
* 104
91
102
91
93
114
98
99

!

75
35
r72
29 r27"
' 62
3-3
63
29
25
62
82
64
51 r29
65
66'
' S-'i .
53
34
66
64
100
.27
26
67 ' C3 -. 91
24
24
33
62 . 62
41 - 39
68
67
94 . 34
51
57
31
57
59
36
67
90
66
34 r33
90
69
r70
27 r28
65 .
92
64
33
32
65"
09^ 31
65/
31

20
20
20
25
18
17
28
22
23
22
17
21
21

54
52
63
65
59
54
-75
68
78
68
62
64
63

%' s-,3 a
are based on reports of about 475 large department stores
- oales by type of transaction,' more than 400 having charge
' for.FRASER ana about 300 having instalment accounts . Back figures' may
^ cc~_n-..5
Digitized
be obtained or. request from the Division of Research and Statistics.'



-Lpril
1942

50
r53
41
51
48 '
63
47
65
39
r56
54
37
75
67 ' ; 5 2
77.
r68
49
45
62
50
63
62
- 47

r'- Revised.
•* - Collections during month as per c e n t o f accounts at -beginning of month.
Ho* e:

^

_ J L
Charge accountsS T "