Full text of G.17 Department Store Credit : May 2, 1946

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BOARD OF GOVE%:ORS OF THii_ FEDERAL .RESERVE SYSTEM
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G.17.3

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. D B P A T I ' E N T -^TO'RE C R E D I T :

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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 d e p a r t m e n t s t o r e s ' a t t h e end of
March remained a t the F e b r u a r y l e v e l , b u t were n i n e p e r c e n t ."higher t h a n a y e a r
earlier.
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 i n c r e a s e d 13 p e r c e n t , r e s u l t i n g ' -in
a c o l l e c t i o n - r a t i o of 35 p e r c e n t , f i v e p o i n t s h i g h e r , t h a n i n t h e p r e v i o u s jnonth.
I n s t a l m e n t a c c o u n t s were c o l l e c t e d . i n a r ound f o u r and o n e - h a l f months, a b o u t
the some a v e r a g e as f o r March' 1945 •
Charge a c c o u n t s r e c e i v a b l e showed s u b s t a n t i a l l y more t h a n t h e u s u a l
s e a s o n a l i n c r e a s e , and c o n t i n u e d . w e l l above l a s t y e a r ' s l e v e l .
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 showed l i t t l e c h a n g e , b u t the c o l l e c t i o n r a t i o i n c r e a s e d f o u r
p o i n t s t o 61; p e r c e n t . "Charge a c c o u n t s were o u t s t a n d i n g a p p r o x i m a t e l y 47 days
e s compared w i t h a b o u t 46 days a y e a r a g o .
Cash and i n s t a l m e n t s a l e s a t d e p a r t m e n t s t o r e s rose" subs t & n t i a l l y i n '
March. The more marked i n c r e a s e i n c h a r g e - a c c o u n t - s a l e s was p r o b a b l y a t t r i b u t a b l e
in p a r t t o e a r l y E a s t e r s h o p p i n g . Cash s a l e s , n o w c o m p r i s i n g o n l y 59 p e r c e n t of
t h e t o t a l , we're up s l i g h t l y o v e r t h e volume of t h e p r e c e d i n g year.. Both t y p e s
1
of c r e d i t s a l e s i n c r e a s e d 15 p e r c e n t oyer t h e y e a r - p e r i o d .
.-V
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 f r o m : .
February' 1-946
March 1945
to
to
Lierch 1946 March 1946 '
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+22
+18
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Sr.Its d u r i n g month .
Cash
Instalment
C.h»'. rge v c c o u n t
Instalment accounts
Ch-v.rgv c 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

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Charge f-ccounts

+ 4
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R a t i o of c o l l e c t i o n s c u r i n g month t o 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
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Instalment accounts
Charge r e c o u n t s

.

Mar.
1946

Feb.
1946

35
64

30
60

I'.otis: F i g u r e s f o r March 19'-!6 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 .




Mar. .
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-'ash and C r e d i t t r i e ' s , by F e d e r a l Reserve D i s t r i c t s

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Cash s a l e s
Instalment sales
! Charge a c c o u n t s a l e s
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".onth.
i d e c : tc-.tc - re b-.zed en r e p o r t s c.V a b o u t d ' 5 ] a r ~ o d e p a r t m e n t s t o r e s r e p o r t s&los by type o:' t r a n s a c t i o n , :::ur'; than 4OO h a v i n / c h r r ^ e a c c o u n t s a;:d
it )00 h a v i n r i n s t a l m e n t a c c o u n t s . Seek z ' i r u r o s r.ay j e o b t a i n e d or. r e st f r o n t-ie d i v i s i o n of R&search and o t a t i s t i c s .