Full text of G.17 Department Store Credit : March 19, 1943

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BOARD OF'^GOVERNORS OF TEE FEDERAL RESERVE SYSTEM
March 19, 1943
R4S- dsc - 4 "
DEPARTMENT STORE CREDIT
J a n u a r y 1943. '
At d e p a r t m e n t s t o r e s ' " i n s t a l m e n t a c c q u n t s o u t s t a n d i n g a t t h e
end of J a n u a r y d e c r e a s e d b y a b o u t t h e u s u a l s e a s o n a l amount and c o n t i n ued s u b s t a n t i a l l y below t h e y e a r , ago l e v e l s 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 per ' c e n t i n J a n u a r y , ' 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 23 per c e n t a s compared w i t h ' 31 f o r t h e p r e c e d i n g month* and 20 f o r
t h e c o r r e s p o n d i n g month a y e a r a g o ,
'
Charge a c c o u n t s o u t s t a n d i n g showed more t h a n t h e usual, s e a s o n a l
d e c l i n e and a t t h e end of January w e r e ; 3 0 per c e n t below t h e c o r r e s p o n d i n g d a - e of 1342, C o l l e c t i o n s on c h a r g e a c c o u n t s r o s e s h a r p l y i n J a n u a r y ,
as i s c u s t o m a r y a t t h i s time of t h e y e a r , b u t were 5 per c e n t l e s s t h a n
i n t h e same month l a s t y e a r , The r a t i o of c o l l e c t i o n s - i n J a n u a r y t o
c h a r g e a c c o u n t s r e c e i v a b l e a t t h e b e g i n n i n g o f t h e month was 61 per c e n t ,
11. p o i n t s above t h a t f o r a y e a r a g o .
_
„
In J a n u a r y t h e r e were s h a r p s e a s o n a l d e c l i n e s in b o t h -cash and
c r e d i t , s a l e s a t d e p a r t m e n t s t o r e s . Cash s a l e s , 'which c o m p r i s e d -59' per
c e n t of t h e - t o t a l , were c o n s i d e r a b l y l a r g e r . t h a n 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 . I n s t a l m e n t s a l e s c o n t i n u e d t o d e c l i n e , t o 25 per c e n t
below t h e y e a r ago l e v e l as compared w i t h a - d e c r e a s e of 17 p e r c e n t f o r
the charge account s a l e s .
.
S a l e s b y .type of t r a n s a c t i o n , a c c o u n t s r e c e i v a b l e , and c o l l e c t i o n r a t i o s b y F e d e r a l R e s e r v e D i s t r i c t s a r # shown on page 2 ,
Department S t o r e S a l e s , A c c o u n t s R e c e i v a b l e and C o l l e c t i o n s
P e r c e n t a g e c hange f r o m :
December: 1942. J a n u a r y 1942
to ' .
•to
J a n u a r y 1943. J a n u a r y 1943
S a l e s d u r i n g month
-53
.
Cash
' -43
' '
Instalment'
' ,
5
0
;
Other c r e d i t
Accounts r e c e i v a b l e , end of month
- 9
Instalment accounts
-24
• Charge a c c o u n t s '
C o l l e c t i o n s d u r i n g month
.
.- 7 \
Instalment accounts .
.
. ... ...
+22
Charge a c c o u n t s
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 r e c e i v a b l e s a t b e g i n n i n g

Instalment accounts
Charge a c c o u n t 5




J a n u a r y December
1943
1942
28
31
65
61-

+19
-25
-17
-43
-30
-18'
- 5 ^
of month
January
1942
• 20
50

Department S t o r e Cssh and C r e d i t Sfil.es,
by Fc j u r a l R e s e r v e D i s t r i c t s

I

1
4

1

Other c r e d i t
. Instalment
Cash
P e r c e n t a g e change from:' P e r c e n t a g e change f r o m : P e r c e n t a g e change from:
J a n . 1942
Dec
.
1942
Dec. 1942
F e d e r a l Reserve Dec. 1342
to
to •
to
• to ; "
to
to
District
J a n . 1943
J a n . 1943
J a n . 1943
J a n . 1943
J a n . 1343
J a n . 1943
-30
•-51 .
-40
+ 4.-32
-58
.Boston
-21
-52
-21
0
-56
-42
Ke-.v -York
1
' -16
-56
-29
+17
-61
Philadelphia
-60
17
5
0
-33
+26
-50
T31
Cleveland
-21
-53
-37
+27
-52
-58
Richmond
^
- 4
-47
' -23
+41
-43
Atlanta
-51
-18
-51
. -23
+15
-48 Chicago .
-52
"
-16
4
7
-26
.
,
+19 ,
-59
-49
S t . Louis'
-26
-48
-35
+2 9
.. - 2 3
-48
'Kirr.sapolis
- 7
-45
-13
+56
. -14
-50
Kansas C i t y
+ 5
-43
-16
+74
-47
-41
Da11as
13
5
0
5
+40
-50
. -41
2 an F r a n c i s c o
-17
T50
-25
+19
-43
-53
U. S . T o t a l

Department S t o r e Accounts R e c e i v a b l e v.nd C o l l e c t i o n s ,
by F e d e r a l R e s e r v e D i s t r i c t ' s

53
57
65
71
65

5I

74
61
70
74
76
58
| 75
65
73
r
71
r?0
6.3

104
10^
102
115
107
119
100
109
99
1C!8
129
ids
108

92
97
71
69 \89 101
89
66 . 93
33
69
92
70
91 ' 108
85 102
68
93
89
65
39
92
71
53
81
93'
72
88
67 r S 7
72 r 9 4 102
68 r 3 1

26
24
Z5

so
23
22
57
27
50
27
23
.28

28
24
• 31
. 31
2.4
.26
42
35
35
53
30
r35"
31

r.

Atlrnta •
Chicago
_St. Louis

68
54
62

1

5 ostan
••
1'ev: York
Philadelphia
Cleveland .

L

|

A c c o u n t s o u t s t a n d i n g , end of
Collection ratios*.
month
TnrlF.vAC • Dec. 71 .
= 1(H)
r'eder a 1 R e s e r v e
Char ge Accounts
Char <:e Acc cunt's
Instalment
District
Doc „ J a n , J a n . Dec., J ri n J a n , Dec. J a n .
Dec. J a n .
1942
1943 1942 1942
1342
1943 1942 1942 1943 1942 1942 1943
20
52
52
18
61
18
61
21
17
53
55
16
72
26
20 . 66
73
22
65
21
16
61
66
13
20
61

52
'58
47 .
54
52
62
65
51
45
59
57
75
59
52
71
73 | 53
69.
51
65
r?l
• 52
65 J 50

r-Revised.
.
* C o l l e c t i o n s . d u r i n g month as per c e n t , of a c c o u n t s a t b e g i n n i n g of month,
Hot:::

These d a t a a r e b a s e d on R e p o r t s - of about 475 large- d e p a r t m e n t s t o r e s
r e p o r t i n g r,r l o c *by t y p e .of t r a n s a c t i o n , moro t h a n '400 h a v i n g c h a r g e
' a c c o u n t s and a b o u t 300 h r v i n g 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 ' tr/vy
FRASER
be ' o b t a i n e d on r e q u e s t f r o m 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 ,

Digitized for