Full text of G.17 Department Store Credit : November 2, 1948

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IV
BOARD OF GOimKORS OF THE FEDERAL RESEfivL SYSTGL
2

G.17.3
.DEPARTMENT STORE CREDIT-

RQV

*

19ii8

41343

Mdebal reserve bank •
" " OF RICHMOND

SEPTEMBER 1 9 U 8

Instalment accounts • receivable' showed about the usual small r i s e , i n
• September, and were n e a r l y three-fourtihs larger, than a year e a r l i e r . Collect i o n s on instalment accounts were ? per cent -higher .than i n August, and Accounted f o r 2h per cent of accounts outstanding on the f i r s t of the month,
- one p o i n t more than i n t h e preceding month. At t h i s r a t e of "repayment i n s t a l ment accounts would be l i q u i d a t e d i n about -seven months. '
' '
. Charge accounts outstanding : a l s o increased by about the customary
amount from the end of August. C o l l e c t i o n s on charge accounts during"
September r o s e s l i g h t l y , and the c o l l e c t i o n r a t i o amounted t o 53 per cent as
compared with 51 per cent a month ago. The average c o l l e c t i o n period f o r
accounts outstanding i n September was n e a r l y 57 days, about the same-average
as f o r September 19U7•
.:
• The volume of both cash a n d . c r e d i t s a l e s showed a. s u b s t a n t i a l i n crease i n September, as i s usual i n t h i s month. Cash s a l e s accounted f d r 50
per cent of t o t a l s a l e s , the smallest percentage r e p o r t e d f o r t h i s type of • •
t r a n s a c t i o n since e a r l y 19U2. Cash sales"were down s l i g h t l y from t h e year-ago
l e v e l , but both instalment and charge-account s a l e s r e g i s t e r e d i n c r e a s e s i n
"the corresponding 12-month p e r i o d .
Department Store Sales,. Accounts Receivable and Collections

Item

'Percentage change- from:
Sept. 19U7
Aug, . 19ii8
;'£o
• tb ,
. Sept. 19U8 Sept. 19U8

'

Sales during month .•
Cash
, Instalment
Charge account

.

*18
+12
.29

•
:

Accounts r e c e i v a b l e , 1 end of month.
Instalment accounts
Charge accounts
Collections during month
Instalment - accounts
Charge1 accounts

.

+

;

:

-

:

:

.- -

.'-IV
>37 .
• + 1 ( ?r
+7k '
>13

f

"+ 1
• -+• 2 -

+35
•••• ••

• •

'• - ; v .
Ratio of c o l l e c t i o n s , during month to accounts r e c e i v a b l e a t beginning of month
Aug. '
Sept.
Sept,
19M_
19kL
Instalment accounts
Charge accounts

.

2h

53

i

Note.—Figures f o r September 19U8 are preliminary and s u b j e c t t o r e v i s i o n .




DBFARMii? STORES - SLPTL..BEE 19lt8 -

4

Cash and C r e d i t S a l e s , by F e d e r a l Reserve D i s t r i c t s
Federal'
Reserve
District
Boston
New York
Philadelphia
Cleveland
Richmond
Atlanta .
Chicago •'
S t . 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

Indexes: 19U1 average = :100
Charge-account s a l e s
Instalment sales
Sept.
Sept. Sept.
Aug.
Aug. S e p t . S e p t .
19k8p
19U8 1917
19k8n
1917
19L8
19L7

Sept.
19L8D

|I

Cash s a l e s

22k
211
231
23k
223
28k
233
2h2
276
297
290 '
229

157
16k
168
206
ilk
266
202
219
2kk
27k.
252
238

21k
197
2Q9
213:
229
232
2?k
233:
216
172
292
293
2U3 . . 182
2hh . 266
287
227
.215
319
36U
321
196
2 hk

168 : 11x6
221
136
172
1#
195
-132
163
223
173
153
165
230
18k
233
126
'2 Ul
' 171
153
268
170
279
235
180
lii6
228
153
188
196
2L8
-2k2
2 Oli
250
191
199
205
208
238 '
252
326
197 • 316 . 239
207
11*7 • 216
2 lit

231

196

23 k", . 215

192

157

229

189
176
199
205
' 209
2k8
215
213
231
217
283
206
207

177

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
Reserve
District
Boston
Ne-.-r YorkPhiladelphia Cle veland
Richmond . '
Atianta
Chicago.'
, S t . Louis
i'inneapolis
Kaisas CityDallas
San F r a n c i s c o
U . S . Total

.

Accou:n t s o u t s t a n d i n g . e n d of month
Indexes ; 1911 average = 100
Instalment
Charge ar
1
Sept.. Aug. S e n t . S e n t . IAVO
IpltOD
i9li8p 19k8 19k7
Il?w6
115122
153
1%'
116
222
115 '
170
l6l'
198
275
152
^151

io5
172
85
170
119 . 8k
118
196"
85
178 112
198
108! . 61
167
209 100
203
109 : 69 193
160 : 83 , 2 1 8
186
151
98
190 101 . 1 8 1
251 103
2 Ok
lli6 88 187
Ikk

87

188

Ihh
lk8

162
153

166 166
177
11:5
179
167
189
160

"17k
159
168
172
176
178
166 159
171 176
178 l6h
165

166

collection ratios*
I n s tuljnent

1 Charge accounts
| Aug. S e p t .
U.9L7. ,19k2n 19k8 1917

20
2k
22
21
22
18

. ko
23

2k
22
18
28 '

2k

22
23
26
23
.21.. -,3'0 .
21
27
20
25
20
27
32
hh
. 23
35"'
25
39
,22- 3 6
17
31
36
30
23

31 •

16
51
h9
5o
h6
k5
50 ... .1*9- 53
52
51
51
36 ' k5
37
38
ki
37
60
62
61
52 ' •51
53
61
59
59
56
50
55
56 53
57
6k 6h
63
53

51

53

pPreliminary.
•> - ' C o l l e c t i o n s during month as percentage of accounts- r e c e i v a b l e a t beginning
of month.
LOTb.—These data are based on r e p o r t s of about hlS l a r g e department s t o r e s
r e p o r t i n g s a l e s by type of t r a n s a c t i o n , more than it00 having charge accounts and
about 300 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
the D i v i s i o n of Research and S t a t i s t i c s .
"
•"
• *• •