View original document

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

2-1
V C\

BOARD OF G0VBRK0R5 OF THE FEDERAL RESERVE SYSTEM
March 7, 1944
R&S dsc - 16
DEPAP.TmJT-STOKE CREDIT

-;

•

• JANUARY'1944

Instrument accounts o u t s t a n d i n g a t department s t o r e s a t the end of
January shewed about the usual seasonal d e c l i n e from December, and continued
26 per cent below 'tho l e v e l , of a year ago.'. C o l l e c t i o n s on instalment accounts
decreased 5 per cent in January, r e s u l t i n g i n a c o l r d c t i o n r a t i o of 50 per cent
as compared with 35 per cent i n t h e preceding month and 28 per cent i n the corresponding month l a s t y e a r . Instalment accounts were .outstanding, on the average,
approximately f i v e and one-half months as compared with about nix months i n
J anuary 1943.
Charge accounts r e c e i v a b l e declined by, s l i g h t l y more
seasonal amount in January, but continued near the l e v e l Of n
l e c t i o n s on charge accounts increased c o n s i d e r a b l y in J a n u a r y ,
time of t h e year, and were i n about t h e same volume as a year
l e n g t h of time charge accounts - were o u t s t a n d i n g i n January was
one day l e s s than i n January 1945.'

than the customary.
year ago. Colas i s usual at t h i s
ago. • The average
about 49 days,

The volume of cash and c r e d i t s a l e s a t department s t o r e s showed t h e
usual sharp season?:! d e c l i n e s i n January from the hi-zh l e v e l s .of the preceding
month. Cash s a l e s , whWli account f o r more than t h r e e - f i f t h ' s "of the t o t a l , " were'
14 per cent above the. l e v e l of the corresponding month a year ago. Both, i n s t a l ment and charge-account s a l e s showed s l i g h t decreases from "January 1943.
Department Store S a l e s , Accounts Receivable and C o l l e c t i o n s
Percentage, change from: •December 1943
January 1943
to
to
January 1044
January 1944
S a l e s during month
-52
.+14
Cash
-4B
,
.
- 2
Instalment
Charge account
-50
- 3
Accounts r e c e i v a b l e , end of -month
- 9
-26
Instal me n t accounts
-25
'
- 1
Charge accounts
C o l l e c t i o n s during ^onth
- 5
•
-20
I n s t a l m e n t accounts
+ 18
+1
Charge accounts
R a t i o of c o l l e c t i o n s during month t o r e c e i v a b l e s ' a t beginning of month
January
December
J anuary
1943
$944 '
1943
35
28
Instalm e n t accounts
p 30
60 .
63
Charge accounts
' p 61


http://fraser.stlouisfed.org/
p - preliminary.
Federal Reserve Bank of St. Louis

DEPARTmiT STOBES
Cash and C r e d i t S a l e s , by Federal Reserve D i s t r i c t s

F e a e r : l Reserve
" District
Poston
Xe.; York
•Philadelphia
Cleveland
Richmond
•Atlanta
Chicago
Gt. 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

Jen.
1944
•

Cjsh

Indexes; .1341 averor:e - 100
j
s a l iS
I n s t ; •>1 merit si l e s - ' Charre--accounl s a l e s
Deo.
Jen.
Jan.
Do o.
Doc.
Jan. . Jan.
1943
1943
1943
1944
1343
1943
1942
1944
58
r275
113
•59
241
106
45
306
lie
50283
126.
307'
119
46
35
136
324
273
40
121
57
r282
124 .
508^ , - 131
83
36
r359
102
467
174
'G9
147
362
P 48

.124
113
124
130
133
102
13%
146
150
185
251
pl85
pl40

289

123

r 71
rl.21
2-110
83
99
87
r 96
1.1 a
84
%-89
' 116
94

68
68
51
60.
51
59
60
57
-61
79
61
76

77
68
81
77
83
97
79
82
81
85
97
p 85

149
148
166
160
160
179
rl54
rl54
161 .
rl5.9
192
163

82
76
79
84
81
88 80
84
80
90
101
83

r 99

63

p 80

159

82

p 52

Accounts Receivable 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 r e s e r v e
District"

Accounts o u t s t a n d i n g , end .of month
Pol 1V/Utt-ilOu t*'>"f Ho>* o
*
IvUi J. f *" on I ' i i J "
—itidexes; .1941 o- 100
:ounts
Irish-j linejnt ' C h a r #
Charge acc<junts
In,c;taJme:at
J a n . Dec. J a n .
Dec. •Jan. J a n . Doc. J an. J a n . Dec.
1944 19-13 1943 19v4 ' 1943 1943 ' 1914 1943 1943 1944 1943 1943

Dostcn
liew YorkPhiladelphia .
Cleveland
Richmond
Atlanta
Chicago
St-. Louis ,
Minneapolis
Kansas City
Dallas
'
San F r a n c i s c o

39
54
42
p40
59
49
39
41
48
47
37
39

42
60
48
'45
54
51
39
r47
52
r-52
•42
44

55
65
55
54
64
62
57
57
61
64
52
60

92
82
" .86

lis
rlC6
122
110
103,
80
8.3
108
83
112
107
81
69
10C
81 r l 0 2
107
83
83
107

U. S. T o t a l

p43

48

58

p82

109

-2'8
99
24
86
27
85
p32
81
78
26
76 . 27
81 , 39
8 v . 33
. 38
69
.37
8630
80
33
85
83

p30

30
26
; 26
24
' 35
25
37 : 30
23
29
33
22
37
49
27
H3
35
41
r37 . 31
40
26
29
35

28

51
53'
53
52
59
61
. 63
P 61
53
57
52
55
68
71
67
69
71 . 80
72
75
63
65
68
69

47
52
61
61
53
53
71
.66
75
66
61
65

.63

60

p61

2' - Revised.
p -• -Pre] imirniry.
.
* - Collection's during month as per cent of accounts - a t beginning of-month.
Mote: These data are based on r e p o r t s of about 475 l a r g e department s t o r e s reporting
s a l e s by type of t r a n s a c t i o n , more than 400 having charge accounts 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 bo obtained on request

from the D i
http://fraser.stlouisfed.org/ v i s i o n of Research and S t a t i s t i c s .

Federal Reserve Bank of St. Louis