View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

y

BOARD OF GOVERNORS' OF THE FEDERAL RESERVE SYSTEM
G

*17

.

^ 1

June 7 , 19k9
. DEPARTMENT STORE -CREDIT .
APRIL 191+9

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 of department s t o r e s a t t h e end
of A p r i l remained a t t h e March l e v e l , but were 15 . p e r c e n t h i g h e r t h a n a:
. y e a r e a r l i e r . 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 d e c l i n e d 7 p e r c e n t
:
d u r i n g t h e month, and t h e r a t i o pf t h e s e c o l l e c t i o n s t o a c c o u n t s o u t s t a n d ing on the f i r s t of the month was 24 p e r ' c e n t , . one p o i n t l e s s t h a n i n
i.Iarch. At t h e p r e v a i l i n g r a t e of repayment i n s t a l m e n t a c c o u n t s would be
l i q u i d a t e d i n about seven and o n e - h a l f m o n t h s .
Charge a c c o u n t s r e c e i v a b l e , which were a f f e c t e d t o some e x t e n t
by t h e l a t e d a t e of E a s t e r t h i s y e a r , were up 5 p e r c e n t from the end of
Larch, b u t were unchanged from t h e l e v e l of a y e a r a g o . C o l l e c t i o n s on
charge a c c o u n t s were 8 p e r c e n t s m a l l e r t h a n i n t h e p r e c e d i n g month, 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 5 3 p e r c e n t as compared w i t h 56 p e r c e n t
f o r L a r c h . The a v e r a g e c o l l e c t i o n p e r i o d for charge a c c o u n t s o u t s t a n d i n g
i n A p r i l was 56 days, two days l e s s t h a n a y e a r e a r l i e r .
The volume of both cash and c r e d i t s a l e s a t department s t o r e s
i n c r e a s e d about o n e - t e n t h d u r i n g t h e month. Cash and c h a r g e - a c c o u n t
t r a n s a c t i o n s r e g i s t e r e d g a i n s of 5 per c e n t and 6 p e r c e n t , r e s p e c t i v e l y ,
w h i l e i n s t a l m e n t s a l e s were w i t h i n 1 p e r c e n t of t h e y e a r - a g o l e v e l .
Department S t o r e S a l e s , Accounts R e c e i v a b l e and C o l l e c t i o n s
I P e r c e n t a g e change f r o m ?
Apr. 1948
| Mar..1949
to
to
. Apr. 1949
Apr. 1949

Item

S a l e s d u r i n g month
Cash
Instalment
Charge a c c o u n t

'

+11
+10
+ 9

+ 5
- 1
+ 6

Accounts r e c e i v a b l e , end of month
Instalment accounts
Charge a c c o u n t s

0
+ 5

+15
0

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

- 7
- 8

+14
- 1

Ratio 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
Apr.
Apr.
I 'ar.
191+9 '
19U9
w
Instalment accounts
Charge a c c o u n t s

' : . .
-

'24
52

25
56

Note . — F i g u r e s f o r A p r i l 1949 a r e p r e l i m i n a r y and s u b j e c t t o r e v i s i o n .




•

25
52

DEPARTMENT STORES - A P R I L 19L:9
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
I n d e x e s ; 191+1 average = 100
Cash s a l e s
. Instalment sales
Charge--account s a l e s
Vl
Apr.
Uh r .
Aor.
! .ler.
L ' n r . Aor. '
I9l:9p
1 9 1 : 9 . 1 9 1 8
1 9 ^ 9 " 1 9 L 8
1 9 W 1 9 L 9 P
1 9 L 9
1 9 L 9 P
21:6
1 8 9
2 0 7
191:
221:
217
2 ; 1
20l+
2 ^ 2
196
2 6 8
- 300
231
! 2 1 1
229
| 211: :
I 2 5 0
272
289
J ^ 2 7 2
289
I 274
| 225
| 2 0 8

_-.:cago

.

Francisco
U . S . Total

2 1 2
2 1 3
2 0 2
2 0 2 1
201:
281+
2 2 8
220
2 5 9
2 9 2
3 0 3
216

|

::e-- York

2 2 1

!

2 0 8
251

i

!

2 0 k
1 8 9
2 0 0
" 2 0 8
11:9
2 3 6
170
2 3 6
. 2 2 3
201
238
,
11:6
'

161+
183169
1 S 7
1 8 0
1 7 6
:2lU
1 7 8
2 0 2
138
2 1 3
-'2L2
. li+5
r/U
2 0 2 ' 228
2 0 0
2ir>'
21:9
1 9 3
21:5
317172
137

1 8 8

172

1 9 1

2 2 6
1 8 9
2 2 9
231
212
2 6 8
2 1 6
2 l U
2 5 5
2 ; 2
2 6 8
2 2 0

1 8 3
17't2 1 2
205
|
201:
236
.
2 0 3
2 0 2
2 3 1 .
2 2 6
.271:
. 2 0 6

2 0 2
177
2 0 3
2 d :
201
251
2 1 6
2 1 6
21:3
2 3 0
276
2 0 3

2 2 2

-201:

:

2 0 8

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
Res e rve
District
Boston.
::ev; York
Philadelphia,
Richmond
Atlanta
Chi cego
St."Louis
yinre»polis
Kansas C i t y
Dallas
San ,I r rancisco
U. S. T o t a l

(Accounts oiu t s t a n n i n g , end of
!
Indexes ; 19ul average = 100
'
Instalment
Charges a c c o u n t s
|Apr.
lApr. Apr. •
I191+9P 191:9 1191:8 1.9l:9p 1 9 L 9 391:8
1
1 2 2 I 113
I 121
1 9 8
179 1 % )
1 3 2 1 113! 1 7 3
' 1 3 3
1 6 5
1 7 2
1 6 8 1 H:9
1165
2 1 7
203 2 0 0
162 | i e i | i L 8
2 0 0 1 8 8
2 0 7
129
1 127 ! 101
176
1 7 2
171
223
:| 2 2 0
1 9 8
1 7 3
1 9 0 | l 9 3
,^^ n o
| 1 1 0
101:
1 8 2
1 8 8
1 7 3
168 1 1 ^ ^ 2 2 1 :
1 1 6 7
2 1 1 : 211
lLli
lb2
1I4I4
191 | 176 1 9 2
1 8 2
'165
1 7 8
183 1 3 1 :
1 9 L
2 2 8
2 1 2
2 3 3
1 9 8
1 9 9
1 9 8
1 5 0
1 5 2
1 2 9
1 8 0
186
1 8 5
.

151

1 3 l |

1 9 1
i

1 8 2

191

Collection ratios*
Instalment
Charge a c c o u n t s
Ar>r. Apr.
Apr.
19l+9p 1 9 L 9 191:8 1 9 L 9 p 1 9 L 9 191:8
19
2 3
2 0
, 22
19
18
ho
2 6
2 6
2 3
21
27
2h

' 19
! 19
25 • 2U
2 0
1 21.
2U
2 3
2 0
2 2
2 0
1 9
hi
35
2 6
2k27
31
25
25
21
1 9
2 6 .
27

25

2 5

52
a
5h
h9
.52
5 3
he
51:
h2
3 6
39 : 3 9
6 2
65
5h
53
65
59
56
59
6 2
56
66
60

hi
h8
5 2
53
39
3 9
61:
5 2
63
55
59
61:
53

,

56

5 2

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
*
• month.
KOTE.--These- data a r e based on r e p o r t s of about 1+75 l a r g e department s t o r e s r e p o r t ing" sales" by t y p e of t r a n s a c t i o n , more t h a n I 4 . O O h a v i n g 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 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 Research and S t a t i s t i c s .