Full text of G.17 Department Store Credit : June 9, 1950
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BOARD OF GOVERNORS OF TliE. FEDERAL RESERVE SYSTEM G.17.3 June 9, 1950 DEPABTLEKT STORE CREDIT .'APRIL 1?50 I n s t a l m e n t accounts outstanding at department stores' i n c r e a s e d s l i g h t l y i n A p r i l and a t the month-end vzere 39 per cent above those ron the c o r responding date of 19h9. C o l l e c t i o n s on i n s t a l m e n t accounts were 1 0 ' p e r cent beloY/ those i n I.iarch and, when r e l a t e d to 'first-of-month accounts r e c e i v a b l e , y i e l d e d a r a t i o of 17 per c e n t , 2 p o i n t s l e e s than f o r the preceding - month. At the 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 accounts o u t s t a n d i n g i n A p r i l would be l i q u i d a t e d i n about ten and one-half "months, n e a r l y three- months longer than the average i n the corresponding month of 19U9« Charge accounts r e c e i v a b l e a t the end of A p r i l v/ere 3 per cent above those on Larch 31, but c o n t i n u e d ' n e a r .the l e v e l of the preceding y e a r . Coll e c t i o n s on charge accounts were' 9 per cent smaller than i n Larch and i n about . the same "volume as i n A p r i l 191*9 • The c o l l e c t i o n r a t i o f o r the month t h i s yeer amounted to 50 per c e n t as compared with 53 per cent f o r both the preceding. month and f o r the corresponding month of l a s t y e a r . Indebtedness of t h i s type in A p r i l vzas being c o l l e c t e d , on ,'the average, i n approximately 60 days. The volume of i n s t a l m e n t s a l e s d e c l i n e d 6 per cent- i n A p r i l . This " decrease Y/as o f f s e t by a s l i g h t r i s e i n bcth cash and char ge.-ac count s a l e s . Compared vfith the year-ago volume, cash .'and charge* account s a l e s i n A p r i l -showed d e c l i n e s of 13 per c e n t and 8 per c e n t , r e s p e c t i v e l y , Yfhile i n s t a l m e n t s a l e s continued w e l l above the 19h9 l e v e l . .. I ; ' 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 Item Sales during month Cash ' ' ' . \ .. . Instalment Charge account Accounts receivable, end of m o n t h Instalment accounts Charge accounts Collections during month Instalment accounts Charge accounts P e r c e n t a g e change from: Liar. 1 9 5 0 Apr. 1919 to to Apr. 1950 Aor. 1950 " -13 +lli - 8 +i + 3. ' . ; + 1 . - 6 ; + 1 " : +39 0 -10 = - 9 : +15 • 0 R a t i o of c o l l e c t i o n s during month to accounts r e c e i v a b l e a t beginning of month: ' -Apr. -L'ar. ' Apr. • 1950 . 1950 1919 I n s t a l m e n t accounts 17 19 - 23 Charge accounts 50 53 53 KOTE.—Figures -for April 1950 a r e p r e l i m i n a r y and s u b j e c t to r e v i s i o n . tt.l GICLES - AJEII 1950 . ash arc 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 Ap^. .„isirict 210 150 19:: 192 211 271 205 195 239 265 197 191: 135 211 186 135 265 200 2C0 228 251 257 199 201 199 252 San P r a n c i s c c P. S. TPial T E H average .ont sales tal.".o ] .ar. Apr. .,nr. 1950 1950:: Indexes; -~-Pr •' J9 pps:cn "^pe-york Philadelphia /Cle.veland . Pic:5:,:nd iAtlanza Chicago S:. louis Pinneapclis Pansas C i : y - 1 Cash sale 2&6 •207 225 .231 21.2 292 225 25L •19k 205 250 163 3d 198. 260. 238 211 •hl,B 153 231 215 229 273 .2?1 201 265 210 139 21L . 2 0 1 208 253 212 • lh9 268 -315 170 -201 28 0 " 236 2L0 223 202 236 259 L9'i Charge-account sales Par. A"r. J ^ C n . J2S0_ j ° L ° _ 262 209 203 136" 2C6 251 197 205 2h6. 219 2# 205 ^ 230- 189 222 202 207' 162. 226 189 229 231 212 26S 216 211 255 231 265 221 186 171 215 198 17li 21L 205 201 2L2 2C2 199 232 226. • A c c o u n t s r e c e i v a b l e and Ccllec.t.icns, bp r e d e r a l nesorve D i s t r i c t s pa serve ' ,.listric: Pcston :"e:.' York Philadelphia "Cleveland Rich:: end Anlante Chicago 5%. Pcv.is hi.': 3 1 - . l i s ^itP Pallas S:n P r ^ n c i s c o ou;a Landing ,end of n.onth Collection rados-x100 Charge-account j Ins:alme: instalment Charre-occount P a r . A i r . Apr. P a r . Apr. Apr. P a r . Apr. Apr. |.;.:ar. Aor. ! l 9 5 : r 1950 19L9 1950%: 1950 19L-9 195Cc 1950 19L9 1950u 1950 19L9 212 155 211 23a 165 359 251" 191 239 115 215 212 p -. . re_ 166 225 150 207 159 211 225 161 351 -6L72 215 192 235 395 215 2C9 180 169 . 173 16 170 173 "16 175 216 217 17 21L 193 .155. 200 17 176 17 179 nh 2 6; 2 CO 198 1U 131 132 20 131 220 221 13 219 192 175 191 20 202 196 191 19 ' 199" , .196 199 l a 168 135 185 id 152 190 137 133 165 152 129 223 110 167 i 155 190 17 18 18 19 19 13 15 23 19 22 22 15 • 19 20 17 20 21 21 19 29 26 26 25 20 2h 1:6 51 u3 13 50 51 51. 52 h2 . k 5 12 hS 62 57 h9 52 55 55 53 53 50 51: 52 • 5a h9 1.1 52 53 hi 16 63 52 59 58 51 55 19 23 5o' 53 53 during month as perce t a e cf accounts r e c e i v a b l e a t beginning of , CL.—These d ' t a are based on r e p o r t s of about' 1 = 75 "large departx.ent s t o r e s r e p o r t ing r _ : : s Lp t'-pe of t r a n s a c t i o n , mora C:an L.CC having c h a r g e . a c c o u n t s and a b o u t . 30." n-vin:' i n s t a l m e n t accounts. Back f i g u r e s may be obtained on r e q u e s t from the _ i - i r i c r . of Zcesearch and S t a t i s t i c s .
