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BOaRD OF GOVERNORS ' OF THE' FEDERAL RESritVE SYSTEM
G. 1 7 . 3

March $ r 19WL
• DEPARTMENT STORE CREDITI ' f £ D e ^ l L r i K '
U
OF-Rlvh,.

• •••

;

.

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 a t t department s t o r e s d e c l i n e d 6 p e r
c e n t i n . January,, a b o u t . | t h e .usual .seasonal, decrease-.|o3> t h i s imon.thy b u t were
n e a r l y t h r e e - f o u r t h s above t h e y e a r - a g o l e v e l . The 1total"amount of 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 , was s l i g h t l y h i g h e r ..thdjs month <than i n December
and amounted t o 2k p e r • c e n t of 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 a t t h e b e g i n ning of J a n u a r y , At t h e c u r r e n t rate- iof repayment, a c c o u n t ^ would be
l i q u i d a t e d i n a b o u t seven and :one-half months, n e a r ] j - two months l o n g e r , t h a n
was i n d i c a t e d i n J a n u a r y 19k7i
. •
'
j
'
Charge; a c c o u n t s r e c e i v a b l e a l s o decline*! s e a s o n a l l y i n J a n u a r y , b u t
c o n t i n u e d w e l l above a y e a r a g o . C o l l e c t i o n s oh change a c c o u n t s were up 27
p e r c e n t .front t h e p r e c e d i n g month> and t h e r a t i o of 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 i n g , on J a n u a r y 1 r e m a i n e d - a t 53 p e r c e n t . The a v e r a g e c o l l e c t i o n
p e r i o d f o r charge a c c o u n t s o u t s t a n d i n g : i n J a n u a r y wajs 57 d a y s .
Both cash and c r e d i t s a l e s r e g i s t e r e d t h e -sharp . d e c l i n e s u s u a l l y
expected- in J a n u a r y . Cash s a l e s , a c c o u n t i n g f o r 5k p e r cent: o f t h e t o t a l ,
w.e r e i n a b o u t t h e same volume as a y e a r e a r l i e r . C h a r g e - a c c o u n t s a l e s e x panded 12 p e r c e n t over t h e y e a r - p e r i o d , w h i l e t h e g a i n i n t h e i n s t a l m e n t
segment- was 27 p e r c e n t .
„ •
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
P e r c e n t a g e change from?
J a n u a r y 191*7
December 19h7
to
to
.
J a n u a r y 191*8
J a n u a r y -19U8
S a l e s d u r i n g month
Cash
Instalment .
Charge a c c o u n t

•

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
j
; 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 •

-53
-51
-53

.+ 1
+27
+12

6
-22.

+72
+17 '

+ 2
+27

+hU
+20

R a t i o of c o l l e c t i o n s J i u r i n g month t o . a c c o u n t s r e p ^ i v a b l e a t b e g i n n i n g of month
Dec.
1917
I n s t a l m e n t accounts*
Charge a c c o u h t s .

29

53

N o t e . — F i g u r e s f o r J a n u a r y 19U8 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 .




DEPARTLiEKT STORES - JANUARY 19l*8
:r~v

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 a v e r a g e = 1 0 0 .
Instalment jales
Charge-accouiv t s a l e s
Cash s a l e s
- Dec.
Jan.
Jan-.
Dec.
. Dec.
J a n . . . Jan,.
Jan.
19u3p
19L8p : 1 9 L 7
19h8n
19H7
1917.
19L7
-19L7
191*7

Federal
District
Boston
. Me?; York.
.Philadelphia
Cleveland
"Fichmond
A t l a n t a -.
Chicago
S t . Louis
Minneapolis
Kansas C i t y
Dallas
San F r a n c i s c o
U. S. T o t a l

155
. 179
173
166 »

' 121

389
107

165

102

321

151"

220

'.379'

180

380.

177
173 '
161*

129

19L

197

.

.1.81

, 1 8 7

1*61*
$2%.

302

130
152
98

/

128

135.

313
353
35.6..

150

335..

155
161*

166

260

lUU

180

332

127

197
181

221

21*1

.

309

167

122

163

127

163
157

307

189

129

319:

ll*8

351
..

3L3

136

IliO •
• 1U3
156
Ihk
1U7

366

168

3 %

'

150

5L2.

255

366

222

.128

' 127

151

223

21*5

1C6

183

379

21U
161*

AO2

183:.'

300

136

265
-21U
:

3 9 2 396

-ll*6
111
312'
93
115
291
221*
83
209
71
262
•
92

. 263

137

187

136

279

107

163

318

11*6

.

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
Reserve
District
BostonTie:: York
ph:ladelphia
Cleveland
Richmond
A%anta
Chicago
.St. Ipuis '
Minneapolis '
Kansas C i t y
Dallas
San J r a n c i s c o
U . S . Total

Accounts cu (.standing, end of month.
Co Hn':v.on 1 a t :i o s *
Inder-rec• 191*:I a v e r a g e = 100
• accounts
Charge a c c o u n t s
/
I:::
Jan.
JaiT. Dec .. | J a n . J a n . Dee., J a n . J a n , '
l?l*8p 191*7
19L7 1917
12%/
iikZ
131
111
139
lldi
102
151
IGl*
119
151
165
182
12.7

80
lul
121*
77
1L5
73
82
162
121
71
157 • 86
1G6
62
12175
153
9h
80
163
171
83
127 : 61*

123 , 136 \.lk
-

200
191*
220
215
199
191;
196
231
223
199
206
209

257 193
239 167
308 175
270 181*
251 166
21*6 158
273 160
292 172
279 167
2L3 156
263 176
262 193

206

261*

175

18
22
21
21
18
20
. 37
23
23
26
21
29
21*

22 ' 21 • i r
22 - 25
he
26
23
-55
•52
25 . 3 0
28 • 21*
1;5
26
27
38
62
. 1*3
1*4
36
52
35
. 31* 35
53
56
35
33
23 • 58
27
61"3h
35
29

30

53

hk
15
li5
: U5
li5 • 5 5
50
51*
1*6
1*2
1*2
1*6
62
63
60
55
61
59
61*
61*
60
59
50
65
53

52

p - Preliminary,
"
* - C o l l e c t i o n s d u r i n g month a s 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,- ,
I l o t e . - ' - T h o s e " d a t a a r e c a s e d on r e p o r t s of a b o u t 1*75' l a r g e 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 s a l e s by type of t r a n s a c t i o n , more than- UOp h a v i n g charge a c c o u n t s ana b o u t 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 re- .
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 .