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^

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

'

November 6, 1951 .

DEPARTMENT STORE CREDIT -SEPTEMBER 1951

'

Department store instalment accounts receivable, which usually show
some expansion in September, increased 2 per cent during the" month, but at the
month-end were 15 per cent below the level of a year ago. Collections on instalment accounts were unchanged from the preceding month, but the collection
ratio was 2 points above the ratio for September 1950. Instalment indebtedness
was being repaid in an average, period of 9 months. •
Charge accounts receivable at the end of September were 10 per cent
above the preceding month-end and 3 per- cent above the year-ago level. - Collections on charge accounts were down 2 per cent in September, and the collection ratio dropped from I48 to
• The September ratio was h points below
that of the corresponding month last year. The average repayment period of
about 6k days was 5 days longer than in September 1950.
.1.
Department store sales;of all types increased in September. .Cash
and instalment sales were up 9 per cent, while charge-account sales increased
16 per cent. All types, particularly instalment sales, continued in smaller
volume than in .the corresponding month.of 1950.

Department Store Sales, Accounts Receivable, and- Collections
Percentage change from;
Aug. 1951
Sept. 1950
to
to
Sept. 1951
Sept. 1951

Item

Sales during month
Cash
Instalment
Charge accounts

+ 9
+ 9
+l6

- k
-18

Accounts receivable, end of month
Instalment accounts
Charge accounts

+ 2
+ 10:

-15
+ 3.

Collections during month
Instalment
Charge accounts

- 2

- 5

0

- b
- 6

Ratio of collections during month to accounts receivable at beginning of month:
Sept.
- Sept
Aug.
1951
-1950
1951
Instalment accounts
Charge accounts

.

20
Mi:

19
U8

18
51

NOTE:—Figures for September 1951 are preliminary and subject to revision.




— i •3

—

2

—

Q

DR?.^T:31:T STORES -. SEPTSIBSR 1951
Cash and Credit Sales, by Federal Reserve Districts
zederal
-. serve •
-e
•
xsTir let
Boston
Rev; York.
Philadelphia
-Cleveland
liohmond .
-.t-lanta
:hic=ro
-S t« Louis
.:L.nneapbli's
Kansas Citv
la-llas
Can rrancisco.
^

U. S. Total

Indexes: -1961 average = :
100"
Charge-account sales
Cash sales
Instalment sales
Sept.
Sept.
Aug.
£ G * • Sept.
>pt
Aug.
Sept. Sept. Aug.
l ^ l p . 1951
1950
i95o
.195lp
1951
1951P 1951
195^
192
ISU
202
198
213
258
21c
206
2cO
2/1
26<

- 156
ICO
109
196
132
250
.203
203
22.9
260
2..0
2 la

• 20?

171

213
200
217 •
201
210
250 •
22a
223
2.2 '
296
270
211

"17

290
. 219
256
311
2-2
221
269
171
222
270
265
338
168
176
223
ao6
310
323
228 - . 199
283.
278 "
272
350
a58
131
5u9
316
303 , 358
6lo
z_C0
371
220
. 225 . 2a8
251

230" - 30a

193
183
231
22.5.
232;
262
237
226
262
2c7
30a
213

11,6
138
17a
207
190
232
210
198
239
223
251
225

218
193
218
23a
267
2 71
2u8
260
2uli
2 La
31o
231

225'

195

238

Accounts Receivable and Collections, by Federal Reserve Districts
~o';= - 1
":r~rve

" e . York
R.7hllalolphia
Cleveland
Atlanta
Chicago
S t . Louis
Minneapolis
\ansas City •_sllas
Jan Francisco ^
U. S. Total

Accounts outstanding, end ofminth
Collection ratios-::Indexes: I pal average = l^o
instalment .
Charge-ac c cunt
instatment
Charge-account
Sent. Au~. Sent. Sent. Aug. Sept. Sept. Aug. Sent. • Sept. AUg. Sept.
195lp 1951 155- 1951P 1951 195^ 1951? 1951 1950 1951P 1951 195^
I6:t 183 236
170
190
151 177 . 18- ' 176 158
192 186 227
217
250 2au 2 8] 2 8 . 1yd
165 .162 18^
217
159
206
3:1 3 a 7' 627
229
176 173 219
20U
225
22 6 235 295
256
226
211
197 186 2-3
187
212
315 27a 3-0
236
ale-, L06 ?bl ' 23a
206
232. 27:' 216 • 211

187
170
2 33
215
169
221
219
25L
211
239
22-8
'215

18
18
18
19
17
16
23
20
22
20
17
21 '

18
17
18
18
18
17
22
21
22
20
17
21

15
18
17
17
13
la
21
18
19
17
12
20

M
•39
aO
51
66
52
a9
ab
17

219 ' 211 256

210

20

19

18

U7

215

196

h6
68
' 62
69
68
65
J3
.
51
aO
62
h3
39
53 ' 57
68
h9
53
55
52
53
68
50'
51
51

lC
65

"

68

51 •

p—-yrelininary,
—Collections 'during, month as percentage"of accounts receivable at beginning of
month.
ROTR:—These data are based on reports of about UlS large department stores report-.
• ing sales by type of transaction, more than ItOC having charge accounts and
•
about,
having instalment accounts. Back figures may be obtained on re- ,
quest from the Division of Research and Statistics. .