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1W
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
G.17.3

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.

"

'

November L, I9h9

DEFARTI.JSNT STORE CREDIT ;
...

SEFTELESR 19it9 '

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'

I n s t a l m e n t "accounts r e c e i v a b l e of department s t o r e s i n c r e a s e d 6 per
cent i n September and .continued w e l l above year-ago ' l e v e l s . C o l l e c t i o n s • on
t h e s e - accounts a l s o r o s e moderately during the month and when r e l a t e d t o ...
•September 1 o u t s t a n d i n g b a l a n c e s y i e l d e d a c o l l e c t i o n , r a t i o "of 23 per cent-,,
the same as i n August.
' "

'

Charge accounts outstanding-were up s u b s t a n t i a l l y i n September a-s i s customary a t t h i s - t i m e of the y e a r . C h a r g e - a c c o u n t balances a t the end pf the. '
month vrere s t i l l somewhat.below those of a year e a r l i e r . C o l l e c t i o n s on'
charge accounts remained a t the August l e v e l but the r a t i o t o f i r s t - o f - m o n t h
accounts r e c e i v a b l e r o s e one .point t o 53. per c e n t .
•'
Department s t o r e s a l e s showed more than the u s u a l seasonal r i s e i n
September with s u b s t a n t i a l ' g a i n s r e p o r t e d f o r both cash and c r e d i t t r a n s a c t i o n s .
Charge-account b u s i n e s s , which-customarily expands more r a p i d l y than e i t h e r
cash or i n s t a l m e n t s a l e s i n September, was 25. per cent l a r g e r than i n S u g u s t ^
Ca^h .sales were up 16 per cent and i n s t a l m e n t s a l e s 1U per c e n t during the
month. Only i n s t a l m e n t s a l e s exceeded, the year-ago volume i n September .

Department S t o r e Sales1,- Account's Receivable and. C o l l e c t i o n s
. ..percentage change from:'
'
Aug. 19h9
S e p t . 1918
to
Mo
S e p t . 19h9
Sept. 1919

Item'

S a l e s during month
Cash
Instalment
•
Charge account

;

'
.

Accounts r e c e i v a b l e , end of month .
I n s t a l m e n t accounts
Charge accounts
:
C o l l e c t i o n s during month
Ins ta lme n t accounts
Charge accounts .

•

+16
- +1U
+25

;•

:

•

•

;
i

"

+ 6
+13

'
; , .,
!;

- 9 .
. +3

;

"

5

' •:

+ 9 "
- 3

.- + 2 .
. ..i.o

+ 3
- •2 ; v

-

.

Ratio of c o l l e c t i o n s during month t o accounts r e c e i v a b l e a t beginning of. month,?
:.
•*,"' • . • '... S e p t .
Aug. .
,S.ept.
'
• 19L9
.
19U9
1918 •
Instalment.accounts
Charge accounts

23
53

23
52

i '

W IE.—Figures f o r September 191:9 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 .
O




G.17.3

- 2 DEPARHZNT STORES - SEFT2L3ER" 19h9 '
Cash and Credit 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
I lev; York
Philadelphia
Cleveland
Richmond '
Atlanta .
Chicago
S t , Louis
Minneapolis
Kansas C i t y
Dallas
San Francisco
. lT. "5. Total

Ca sh s a l e
Sect.
Aug.
1919
19L9P

19hi aver,are = 100
Charge-account s a l x
Ins-taLmert
Sept.
Sept.
Sent.
Aug.
Sen;,.
Aug.
19'i >
1919
19W
1919
19L9P
19b9P

Indexes;
Sent.
19W

208
198
203
189
203
219
220
215263
277.
219
199

160
153
161
183
165
235
135
202
223
256
228
217

221;
215
231
225223
280
233
2),0
276
303
29h
229

202
252
- 177
225
156
2192C6
2-05
169
'153
.301312
221 ' 17k .
- 282
#1
201
21L
231
2L8
1:13
373' :
183.
.205

197
213
232
232
172
300
182
26L
227
213
36L
205

210

181

231- .

223

216

195

205"
138
186
127
216
151
208
179
167
227
.266
• 217
2#
177
.221
182
"228
* 203
* 196
237
226
29lr
209
199
217

173

221
195
223
225
2hl
278
229
239
250
238
316
217
228

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
• New York
Philadelphia.
Cleveland
Richmond
- Atlanta.
Chicago
S t . Louis•
I/lnneapolis
Kansas City
Dallas
San F r a n c i s c o
U. S. T o t a l

Accounts outstanding.end of month
collection
Indexes; 19L1 average = :
100 .
Instalment
Char;ge ac counts
stall.:!ant
Aug. Sept. Sept. Aug., Sept. Sept. Aug. Sept.
19L9D 19k9 1 ^ 8 lpL9p 1919 19L0 19l9p 19^9 1913

ratiosCharge accounts
S e p t . Aug. S e p t .
19i#P 19^9 1918

1L6
•131
l6h
181
138
265
; 132
j 191
I 153
"190
295
173

13k
12L
156
179
131
216
119
180
119
179
270
16a

115
122
153"
186
116
222
llh
170
161
198
275
152

160
16L
200
186
168
200
137
21k
180
188
195
177

137
113
171
166
117
178
158
19L
152
16^
167
177

18
18
172
170
30 . 23
19
196
19
20
20
198
13
167
19
203
15
15
ko
193
39
20
21
218
22 . 23
186
22
22
181
13
20117
187 -23-1
25

.20
2k
22
21
22
18
ko
23
2k
22
18
28

51
i;9
50
.15
k8
18'
50
51
39
39
38
35
6k
63
50
52
62 • 60
53
51
58
57
66
65

165

155

151

182

161

188

2k

53

23

23

52

51
50
50.
51
37
38
61
52.
61
56
57
63
53

P -^Preliminary
* - 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. These data are i n process of r e v i s i o n .
1-OTE.—These data a r e based on r e p o r t s of about kl5 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 kOO having charge accounts and
about 300 having i n s t a l m e n t accounts. Back f i g u r e s may be obtained on r e q u e s t from
the Division- of Research and S t a t i s t i c s .