View original document

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

15%

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
G.17.3

May 6, 1$U9
DEPARTMENT STORE CREDIT MARCH

1949

- I n s t a l m e n t a o c o u n t s o u t s t a n d i n g a t .department s t o r e s d e c l i n e d 3
p e r c e n t i n March, b u t e x c e e d e d . t h e . y e a r - a g o l e v e l by 18 p e r c e n t . C o l l e c t i o n s
on i n s t a l l m e n t a c c o u n t s were made somewhat more r a p i d l y t h a n i n F e b r u a r y , and
amounted t o 25 p e r c e n t of a c c o u n t s o u t s t a n d i n g on March 1 a s compared w i t h
22 p e r c e n t a month e a r l i e r . At t h e c u r r e n t r a t e of repayment i n s t a l m e n t .
a c c o u n t s would be . c o l l e c t e d i n a b o u t s e v e n m o n t h s ,
Charge a c c o u n t s r e c e i v a b l e a l s o were r e d u c e d s l i g h t l y d u r i n g i f e r c h ,
and were 4 . p e r c e n t below t h e amount o u t s t a n d i n g on t h e same "date i n 19)48.
C o l l e c t i o n s on c h a r u e a c c o u n t s d e c l i n e d somewhat, as i s customary i n March,
b u t t h e c o l l e c t i o n r a t i o was up 6 p o i n t s t o ,56 p e r c e n t . I n March, c h a r g e
a c c o u n t s were o u t s t a n d i n g , on t h e a v e r a g e , a p p r o x i m a t e l y 5 3 d a y s .
Both c a s h and c r e d i t s a l e s i n c r e a s e d s e a s o n a l l y i n I ' a r c h . The g a i n s
were l e s s marked t h a n a y e a r ago, however, due i n p a r t t o t h e l a t e r d a t e of
E a s t e r t h i s y e a r . Compared w i t h l a s t y e a r ' s volume, s a l e s of each t y p e were
o f f a r ound o n e - t e n t h .

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
Percentage 1
change f r o m :
F e b . 1949
Mar. 1948
to
to
Mar. 19U9
Mar. 1949

' Item
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
Cha r g e a 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
Instalment accounts
Charge a c c o u n t s

+24
+30
+26

-

-11
-12
- 8

.
+18
- 4

- 3
- 3
+ 7
' .<3

•

+18
. +10

R a t i o of c o l l e c t i o n s d 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
•Feb.
Mar. Mar.
1948
1949
1949
Instalment accounts
Charge a c c o u n t s


Note.—Figure
http://fraser.stlouisfed.org/s f o r March
Federal Reserve Bank of St. Louis

25
56 ~

22
50

1949 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 .

27
53

DEPARTMENT STORES - MARCH 1949
Cash and C r e d i t S a l e s , by F e d e r a l R e s e r v e D i s t r i c t s

Mar.
1949P
Boston
New York
Philadelphia
Cleveland

I n d e x e s ; 19I4.I a v e r a g e = 100
Cash s a l e s
Instalment sales
Charge.- a c c o u n t s a l e s
j Feb.
Mar,
Mar.
Feb.
'.Mar.
Feb.
Mar.
Mar.
1948
1949
1948
1948
1949?
1949
1949
1949P

Atlanta
Chicago
S t . Louis
Minneapolis
Kansas C i t y Dallas
San F r a n c i s c o

109
194
217
204
196
268
211
214
250
273
273
209

151
... 152
151
172
- 158
233
172
181
; 197
222
223
173

U. S." T o t a l

208

168

221
219
247
222
226
328
232
241
269
298
316
241

164
169
180
178
202
213
145
213
200
193
245
138

133
135
118
156
111
161
114
163
159
152
181
119

195
190
223
203
200
' 239
167
226
207
233
252
163

183
174
212
205
204
236
203
203
231
226
274
205

' l4l
133
149
165
176
199
162
168
169
187.
224
164

212
193
235
219
223
277
218
227
23T
239
289
222

235_

172

133

195

204

162

222

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
Re s e rve
District
Boston
l\ev; York
Philadelphia
Cleveland Richmond
Atlanta
Chicago.
S t . Louis,
Minneapolis
Kansas C i t y
Dallas
Sen F r a n c i s c o
-

Accounts o u t s t a n d i n g , encl of month
Collection ratios*
I n d e x e s ; 194l a v e r a g e = 100
Charge a c c o u n t s
Instalment
Charge a c c o u n t s
Instalment
F e b . Mar. H a r . F e b . Mar. • Mar. F e b . Mar. Mar. F e b . Mar.
1949P 1949 1948 1949P 1949 1948 1949P 1949 1948 1949P 1949 1948
121
132
168
181
127
220
110
168
142
182
233
152

136
136
167
187
131
220
115
174
145
190
242
157

U. S . T o t a l

116
112
148
145
101
165
101
134
130
169
198
130

178
165
203
188
172
190
173
214
176
183
198
180

I 7 2 194
172 . 174
2 0 3 207
194 204
175 173. 194 194
181 184
220 210
179 183
188 178
198 199
194 186

19
25
20
23
20
19
41
24
27
25
21
27

17
20
•18
22
18
18
36
22
25
22
21
24

20 j
26
23
25
23
22
37
31
34
27
24
30

52
54
53
54
42
39
65
54
65
59
62
66

45
45
47
49
38
35
58
48
56
50
57
.58

49
51
53
50
34
4i
64
53
63
59
58
62

I 151
27
50
182
56
157 129
187 190
25 ! 22
53"
' ••
1
p - Preliminery
* - 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 m o n t h .
MOTE.--These d a t a a r e based on r e p o r t s of a b o u t 475 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 t y p e of t r a n s a c t i o n , more t h a n J4OO. h a v i n g c h a r g e a c c o u n t s and
a b o u t - 3 0 0 h a v i n g 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 r e q u e s t
from t h e . D i v i s i o n of R e s e a r c h and S t a t i s t i c s .
'