Full text of G.17 Department Store Credit : October 5, 1951
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM G.17»3 October 5, 1951 DEPARTMENT STORE CREDIT -AUGUST 1 9 # . I n s t a l m e n t accounts r e c e i v a b l e a t department:] s t o r e s did not change during August, b u t a t t h e month-end, "were 11 per cent below the l e v e l of a year ago. C o l l e c t i o n s on i n s t a l m e n t accounts, i n c r e a s e d 3 per cent i n August and r e s u l t e d i n a c o l l e c t i o n r a t i o of 19, one p o i n t above both July and the preceding August, The average repayment p e r i o d f o r i n s t a l m e n t indebtedness was about 9 months. Charge accounts r e c e i v a b l e on August 31 were 1 per cent above the l e v e l of the J u l y month-end* The y e a r - t o - y e a r gain was 3 per c e n t • Charge-account c o l l e c t i o n s were down 7 per c e n t during' August, b u t the r a t e of repayment was somewhat h i g h e r than i n J u l y , as shown by the i n c r e a s e i n the c o l l e c t i o n r a t i o from li6 t o ' l | 8 . This reduced the average repayment p e r i o d t o about 63 days, '' ' In s ta lme n t s a l e s r o s e 39 per cent i n August, while chargesaccount s a l e s i n c r e a s e d 21 per c e n t . Cash s a l e s .were up 1? per c e n t . ~ I n c r e a s e s i n a l l t h r e e types of s a l e s have been usual i n August. Despite these i n c r e a s e s , s a l e s were below the high' l e v e l s of a year ago. 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 change from:' August 1950 July 1951 to to August 1951" August 19^1 Item Sales during month Cash Instalment Charge accounts +17 +39 +21 Accounts r e c e i v a b l e , end of month / Instar.me2.it accounts Charge accounts C o l l e c t i o n s during month Instalment Charge accounts ," - 2 -21 - 7 ' . o.. ... + 1 + 3 - 7 • -11 + 3 • • + h 0' R a t i o 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: . Aliens t July ' Au u s t ' 19^1 . 1951 lv# Instalm e n t accounts Charge accounts • B . 18 k6 18 oTEs— Fig'irea"Tor August 1951 a r e p r e l i m i n a r y and s u b j e c t to r e v i s i o n . Digitized11for FRASER ' 0.17.3 - 2 - §• DZP/iRTIZMTSTCRZS- AUGUST 1951 Cash and Credit S a l e s , by Federal Reserve D i s t r i c t s Federal Reserve District Aug. 19%. Boston r.Tev; YorkPhiladelphia Cleveland. Richmond Atlanta Chicago S t . Louis MinneapolisKansas City Dallas San Frgncisco - 1# 160 -IE? . 196 132 250 2D 3 2-^1. 219 280 2l0 216 \ U . S . Total Indexes: sales Aug. July 1 9 5 l _ 1950 19W- a v e r a g T ^ 100 instalment s a l e s ."July Aug. Hug. 1951 195" 1951P ftash 191 219 221171 • 27" 176 323. 199 268 131 301 Leo' 219 135 133 lUo 169 167 215 ' 17 n 173 -189 216 216 182 166 166 168 197 175 253 2^8 212 252 281, 253 226 163 196' ' 230 Charge-account s a l e i Aug. July Aug. 1951? 1951- 1950 .32^ 131 265 165 2al 119 188 3hS 203 122 256 357 27k 153 170 • 361 231 395 '2-6 335 3n" 59k 170 260 . li;6 1.13 171 2" 7 190 232 210 -197 239 223 251 225 121 121 119 167 153 135 166 171 166 185 212 192 159 1L8 168 217 201 2ll 221 213 "273?.lr 275 216 165 195 160 209 292 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 A-oderal District - Dr Rnilaaslrhia Cleveland _-.t±anta . Cnicsgo St. louis Minneapolis fCahsas.City Dallas San Francisco ' U.. S . Total Accounts outstanding, end of month Collection r a t i o s * Inoexes: 1 % 1 average; ==100 Charge-account Charge-account Instalment Instalment A-.ig. July Aug. -4ug. ' July Aug. AUg. July aug. Aug. Juiy Aug. 195lp 1951 195" 1951P 1951 1950 1951P 1951 I950 1951P 1951 195" 153 177 166 251 162 3L7173 235 159 293 l":6 231 182 ISO 191 253 lcl 339 177 231 1-80 295 1^06 229 17° 225 158 175 217 215 2'2 265 176 199 2'i8 111 20^ 2-0 226 237 222 ' 167 212 3^8 5&8 ' 2 0 6 211 253 I80 165 226 2"0 2-5 2^3 199 223 ISO 211 203 201 18 162 152 - 17 13 20^ 18 198 18 171 2-0 17 22 196 20 227 22 196 20 221 20^3 17 216 21 16 15 16 17 16 15 21 13 21 13 16 20 16 16 17 17 19 Ih 21 19 "20 17 12 19 . U6 U2 15 •h9 140 39 53 U8 52 ItO 52 L6 b3 Uh hi U? h3 51 hS hh 37 12 39 53 , 9 -b? r h7 55 51 h9. 55 51 h7 52 h? .215 215 2hl 195 191 18 18 h8 1*6 197 19 55 5" p---Telimlnary. •>—Cclleetions during month as percentage of accounts r e c e i v a b l e a t beginning of month.. MOID:—These data are "based on r e p o r t s of' about 1*75 l a i ^ e . department s t o r e s r e p o r t ing s a l e s by type of t r a n s a c t i o n , more than I4OO having charge accounts and 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 ,