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B O A R D OF GOVERNORS OF TEE FEDERAL RESERVE SYSTEM
G.17

March 7, 1956.
DEPARTMENT S T O R E C R E D I T - JANUARY 1956

Instalment accounts outstanding at department stores declined
1 per cent during January, tfhen some decrease usually occurs.. Balances
continued, about 20 per cent above a year ago. The instalment collection
ratio, estimated at 14 p e r cent, , was. 1 point "below a month ago and the
L
same as January of last year.
>
Charge accounts declined seasonally during January, and at the
month end were 13 per cent h e l o w the D e c e m b e r level. Balances, however,
were 9 per cent above a year ago. Collections on charge accounts amounted
to an estimated 43 per cent of first-of-month receivables, 3 points below
a month ago and 1 point below a y e a r earlier.
; S a l e s of all types showed their u s u a l December-to-January decline.
Compared w i t h January of last year, however, cash and instalment sales were
u p 1 pec cent and 15 p e r cent, respectively, w h i l e charge-account sales
were about the same. '
• •
•

Changes in D e p a r t m e n t Store Sales and Accounts Receivable
Percentage change from:
Jan. "1955
D e c . 1955
to
to
Jan. 1956
Jan. 1956

Item

Sales during month:

.

Total
Cash
Charge
.Instalment

Accounts receivable, end of month:

'

-

.

+ 2
+ 1
0
+15-

^58
•-57
-n

+ 9
+20

-18"
- 1
•

Charge
'.Instalment

> .

'

Collection R a t i p s and Percentage Distribution of Sales
'
Collection ratios l/:

Charge accounts .
Instalment accounts

Percentage distribution of sales:

TJ

Cash
Charge Instalment

Jan. '

Dec.

Jan.

1 9 5 6

i

• Item

1955

1955

^3
14

46
15

44
14

4 5

42
13

.

46
43
11

i

' 45
43
1 2

Collections during month as a percentage of accounts-receivable at begin-•

ning of month.




DEPARTMENT STORE CREDIT - JANUARY 1956
Sales by type
•(Percentage changes)

I Charge-account
sales

Total sales

Instalment

1

'Be serve
District

jDec.'55;Jan.'55 ID, . . „55; Jan. '551Dec . '55 j Jan. '551Dec. '55
sc
Jan. '55
' to
j to
j to
.
j to
'| to
j to
j to
tc
; Jan. ' 56 i Jan. '56 j J>
an. '561 Jan. '56-1 Jan. '561 Jan. '.56 j Jan. '56
Jan. 1 56

3OS-en
'lew York '
Philadelphia

,
l
;

1 +
, +
-57
I +
-64
j
-6l - +
j
•
-57. j +
-57
i +
-54
1 +

:

-58

:
;

-55 | + 2
-59 . - 3
j

:

-56

!
,
1
1
«

Richmond
Chicago

St. Louis
Kansas City
Dallas

San Francisco
U. S. Total

"58
-57
-61

I

I

-

2
4
4
6
2
3
2
6
1

• a . j

i
i
i -62 ' | - 3
1 -59
j -57
+ 2
;
i -58
) -64
| + 6
1 -60
[ • -60
j + 4
j -58
-68
i . - 1 i -65
| -64
j
0
i -58
! -59
1 + 2 j -58
j -59
i + 1 . 1 -59"
0
r -59
i -53
1
j - 4
i
-58
1 -61
; -59- 1 + 2
i -57
j - 4 j -62
j -61
-58

j

+ 1

.
1

-57

i
i
i
}
i
1
i
1
j

i
1
i

-41
-51
-49
I
j -48
-47
-60
+2.1
+ 2
| -38
+.1
I -44
+10
i -39
0
j -30
0
i -37
-14
j -43 •

-6

+5
- 1
+ 3

0

Accounts receivable,•end of month
(Percentage .changes)
Federal
District
Boston

Tlev York
Philadelphia
Cleveland
Bic.iir.cnd
Atlanta
Chicago

St. Louis.
Minneapolis
Kansas City
Dallas
Sar Frgncisco
U. S. Total




jCharge accounts
Instalment
Dec.'55jJan.'55 Dec.'55 jJan.'55
to
j to
to
j to
Jan.'56 Jan•
Jan.'$6|Jan.'56
-19

1

-20

j

"21
-16

j
.
j

-24
, - 1 7

-20
-20
-18

i

|

j

0
j
0
+10
; - 1
+10
j
0
+ 6
j - 4
+ 6
| - 1
+ 7
| - 6
+14
|.-3
+5-|
+ 4
+ 6
| - 2
+ 7
| -5
+ 4
| - 1

|
j + 3'j +7
' I

I + 9

j

- 1

,
1

|
|
|
j

+15
+17
+26
+26
+23
+24
+14
+27
+17

+ 3
+15

j +32
1

+20

]

-47

+ 6
+13
+14
+26
+11
+10
+10
+ 6
+10
+ 9
+10
+27
+15