View original document

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

M
BOARD OF GOVERNORS OF. THE FEDERAL RESERVE SYSTEM
May 2, 19hl.

G.17,3
DEPARTMENT STORE. CREDIT
JcARCH 1917 •
t

Instalment accounts outstanding at department stores, at,the 6nd of
March increased slightly, and were .more than three-fourths larger than a year ago;
Collections on instalment accounts showed the customary substantial rise, and the
ratio of collections to instalment accounts outstanding on the- first of the month
was 32 per cunt;.a month earlier it was 28 per cent. The average repayment period
for instalment accounts outstanding in.March was about five months.
Charge, accounts receivable showed less than the usual rise in March> but
continued sob:.-;
iy above the year-ago level. Collections declined 5 per cent
but the ratio'
collections in March.to accounts receivable on the first of the
month was 56. pu; C . rt a;: co;.;r,ared witA 5l per cent in February. At the prevailing
/
rate of repayment., chaise accounts, would be outstanding, on the .average,
days. .
Subs4-> t V I J ncreases in bsth cash and credit sales reflect the effect •
of - pro-Easter - - i t , Ca^h sales, accounting fur 56 per. cent: of the total for
the second s'C.
^ ^ -onvn- were 2 per cent, larger -than a year ago. Charge- •
account sale;-; vrers . J per cent higher than last year's volume, while the year-tov
year increase in instalment sales was 82 per cent.
Department Store Sales, Accounts Receivable and Collections
Percentage change from:
March 19U6
February 19U7
to
to
March 191+7March
19U7
Sales during month
CashInstalment
Charge account

+31
+39.
+32

+ 2
+82
+18

Accounts receivable, end of month
Instalment accounts
Charge accounts

+ 3
+ h

+77
+12

Collections during month
Instalment.accounts
Charge accounts

+11
- 5

+50
+31

Ratio of collections during month to accounts receivable at beginning of month
Mar.
1917
Instalment accounts
Charge accounts

Digitized Note.—Figures for March 19U7
for FRASER


32
56

Feb.
1917
. .28
. 51
.

are preliminary and subject to revision.

Mar.
19U6
37
61t

p

:-ErAE:T s

:

:

,

j:;M9L7
-c

Cssh nnd Credit Siles, by Rederal reserve Districts
Indexes; 1>'L 1 avenare = IPC
-account
. ins
j :-eb.
19L6
i:^7o
19L7
1 1>L7

1
"...

' j 20?
1 222
P:
bin ( 2LL
i 213
:
.
1 219
:a
' i 310
. 1 233
r;. ::eis
| 229
-.-lis
292
City. 1 297 i
h..lhas
"323
S-.a : rancisccj 255
S. \:aai;

111
i6h:
165
163
156
253
186
137
213
211
26L
212

236

179

131 1 120 .
31 : 178
197
210
11:2 1 102
•. 9h i 166
IhQ
76 : 199
: 233
1
95
1 210
191
1^3 , : 130
79
200
165
78
1- 217
99
211
• 327
326 i 167
93
181
131
233"
99
73
163
"2L3
123
91
198
112
235
136
132
197
163
309
92
139
193
360 ' 163
161
107
213
260
115 |
20L
98
67
233.

152

j

109

84
1

ar.

120
150
113
Ihh
136
153
1L2 ! 166
166
151
206
162
Ihk
158
170
15L
168
1L6
162
157
210'
213
161
l6h
Ihh

191

162

L—

:

Account^ Receivable and 'Collections, by f ederalTeserve Districts

h -deral
Fzserve
- lis urict

jAJCOums cu :sta..am -y
; e = ja-O
:
l-i,l
1

-

.
1

tfl !
75 1
71
61;
71
69
69 ' " 87
61
62
72 |
73
39
90
82
81
36
"7

S

63

50
179
150
19
ho
16 h
k3 j 165
16 0
kS
k7
152
153
3h
UC. 16&
160 :
51
11:6 |
h9
h9
160-1
167 |
3k

167

116
21
13
2h
109 " 23
110
. 3h | 27
117 . 29 ! 27
no
28.
25
26
117
29
118
ho
32
119
33
39
110
32
35
105 • 39
3k
121 . 32
-27
108
36
1;3

76

7k

U

151;

32

76
' 76

Philadelphia
Tlev.ara.a
ic: : .:n/
Allan:a
:
SL.

: :is
.i^s
i/. a a: :iay
aali-;
Sar

3. :0,blj

t

!

161

!

167
1L6
1L3
159
151 ;
117
150
155
1L6
111 .

156

zrir.f :.:n%h as z-ercer ^
"obe;

Collection r a i.ios

Instalment
Char.:'v acccunis
ii-vb.
ar. 3 eb. :.r-r.
|Feh. I har.
1:17a - U'hi !i;: • 17:-7p 1 .a 7 1^L6 1
19L7 ! 19^6
i

i

28

26
32
35
37
31
3k
51,
1:0
Ji5
1|2

. k7
kd

'

59
56 .

13
kh
63

61

ul

63
62
62
59

37.

56

31

'

U2
i ^
hh
.57
65
51
51 ,6U
' 1 6 57.
;
h2
51;
73
59
56
70
59 79 •
60

55

75
67

6k

51

6k

59

113

1

^

ccounts r.ceivahle at beginning cf

These aata ^ra based en reports
^ " 175 large der-art^ent stores reporting sales by type of aransacti
%
,h'%n LCC leaving charge accounts
a.; out, 300 having instalment acceunas. tack figures K.ay be obtained on re' ou^sc iron Lhe Diviioion of Research and Statistics.