Full text of G.17 Department Store Credit : November 4, 1947

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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTELi
G.17.3

November k t 19U?
... D E ^ T W T , STORE .QljiDli'j::.
•

-

; f : • * SEPTEMBER'

,

, .

•'

'

.

"V TnstalmenV accounts': dutstartdirig .atvdepM^Wfit /stores S f t c m s e d s l i g h t l y , .
as i s customary i n .September, ,an£,continued c onsideraMy:. larger than a year e a r l i e r .
Collections oft instalment accounts rose 12-^er" cent* j r e M l t i n g in^a • colXectidh
r a t i o of 31 p$r cent, three points higher.than i n August. The average c o l l e c t i o n
period for -instalment accounts outstanding in September '.was f i v e and •one-half ".-'. "
:
months. , •
; ...
•.
. 5 . ;
^ '
.
•
Charge accounts receivable'showed about.the customary substantial r i s e i.
in September,-and continued 15> per cent above the year-ago l e v e l . Collections on
charge accounts were s l i g h t l y higher than in'the preceding month, and the r a t i o of
c o l l e c t i o n s to accounts outstanding qn September 1 was 53 pe? cent. At the
prevailing rate of repayment charge accounts would be outstanding, on the average,
about 56 days.
Both cash and credit s a l e s showed more than the usual expansion during
September. Cash s a l e s , amounting to 5U per cent of the t o t a l , were s l i g h t l y above
the year-ago volume. Instalment s a l e s showed a gain of nearly t h r e e - f i f t h s , over
the September 191*6 l e v e l , while the year-to-year gain in charge accounts was
15 per cent. ''
- —Department store Sales'# Accounts Receivable and Collections
Percentage change from:.
August 19^7
September 19U6
r-'-to
September 19L7 September 19U7
Sales during month
Cash
.
:
Instalment,
:
Charge account .

^

,

; +20
' +20
*32

;

,

•

. " ,-

Accounts receivable, end of month
Instalment, accounts
Charge accounts
Collections during month
Instalment accounts
Charge accounts

:
'

•

,

;

; -

+

+$9'

<

+k "
45 : -

. +12

+5h.
+1-0

Ratio of c o l l e c t i o n s during month to accounts receivable at beginning of month
Sept.1917
Instalment.. Recounts
. .Change' accounts

31 . .
53 .

. Aug..
191*7
28
51'

• •, Sept.
,;.ML
35
: 56

Mote.—f igures for September 19lt7 are preliminary and subject, to r e v i s i o n .




.

+75

...

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'

<

DEPARTMENT STORES - SEPTE:.3ER 191*7
Cash and Credit S a l e s , by Federal Reserve D i s t r i c t s
Indexes; 191 il average = 100
Charge--account s a l e s
Cash s a l e s
Instalment isales
Sept.
Sept.
Sept.
Aug.
Sect.
Aug.
Aug.
Sept.
Sept.
191*6
191*6
19l*7p
191x7
19l*7p
19h7
19L7P
19k6
1917

Federal
• Reserve
District
Boston
New York
Philadelphia
Cleveland •
Richmond
Atlanta
Chicago
S t . Louis
! 'inneapolis
I:an:as City
Dallas
San Francisco

21^
"217
226

U. Si Total

236

'
r

22k

216
289
2L3.
21*6

296:
319
321
217

.

1#
168
162

196
171
21*7
201
209
2#
281

295
250

205 . 11*6
' 150
191
161
226
202
165
126
222
165
. 313 11,8
235
21*2
197
163
292
215
321
197
373
- 261
115

196

22c

;

;

137

100
93
95
90
90
112
91
116
155
107
153
99

191'
178
203
205
209
211i
213
221
232
216
283
206

176
' 227
196

187
271
188

130

98

207

'

180

125117
126
151
105
120
118
• 151
129. i

176
203

156

129
119
133
162
152
187
151
160

169.
152
169
169
188
199
180
196
218

167

157

Accounts receivable and C o l l e c t i o n s , by Federal Reserve D i s t r i c t s .

Boston
;l:e% York
Philadelphia
Cleveland
Richmond
.Atlanta ,
Chicago
S t . Louis Minneapolis
Kansas City
Dallas San Francisco
U. S. Total

II
II

Accounts outstanding, end of month
Collection r a t i o s ^
Indexes; 19lil average = 100
Charge accounts
Instalment
Instalment
Charge account's
Sept.
Sept. A u g . Sept. Sept. Aug. Sept.
Aug. Sept.
19l*7p
19l*7p 191*7 191*6
1917 191*6
19L7p 191*7 19U6
• 85
78
: 81* 79
81
• 85
112 106
61*
72
100
97
66
69
73
. 83
90
99
101
90
' 103 100
88
83
87

81

50
52
11
52
53
58
1*3
53

II

Federal
Reserve
District

61
6b
1*1*

162
153
166
171*
159
168
172
176
188
159
176
161

.139
150
155

151
135
130
ll*6
132
151*
ll*9
15U
11*3
135
157
153

50

167

116

1L5

.69

136
133
138
15L
138
11*6
Ili5
159
160

1

23
26
30
25
25
27
1*1
35
37
35
31
36

22
23
26
25
21
26
1*1
33
32
31*.
31

1*9.
25.
h6
30.
36
53
31
52
1*5
29
hi
31
62
50
38
53
58
1*5
1*9
LI
31 . 5 8
61
hi

31

28

35

29.:

53

hh
hi
50
51
1*1*
1*0
57
55
53
58
57
63

1*7
1*6
• 58
52
50
1*8
61*
63
71
65

51

56

62

59

• p - Preliminary.
"
*
Collections during month as percentage of accounts receivable at beginning of
.month.'"
Mote: These data are based on reports of about 1*75 large department s t o r e s r e p o r t ing s a l e s by type of transaction, more than LOO having charge accounts aid
about 300 having instalment accounts. Back f i g u r e s may be obtained on r e quest from the Division of Research and S t a t i s t i c s .