Full text of G.17 Department Store Credit : June 7, 1949
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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 .
