View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

11%
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
G.17.3

October 6, 19k9
DEPARTMENT STORE CREDIT
• AUGUST 19h9 • . j;

In s ta lm e n t
l a r g e r a t the end of
indebtedness•of thisl a r g e r than in. J u l y ,
r e c e i v a b l e i n August

accounts o u t s t a n d i n g a t department s t o r e s were 3 per cent
August than a: month e a r l i e r and 8 per cent above year-ago
t y p e . C o l l e c t i o n s on i n s t a l m e n t accounts were 5 per cent
>
amounting t o 23 per cent of t h e f i r s t - o f - m o n t h accounts
compared vdth 22 per cent i n the preceding month.

Charge accounts r e c e i v a b l e remained near the l e v e l of J u l y 31 and
were only s l i g h t l y below the amount outstanding at. t h e end of August 191*8.
C o l l e c t i o n s on charge accounts d e c l i n e d as i s usual i n t h i s month b u t when
r e l a t e d t o beginning-of-month balances o u t s t a n d i n g y i e l d e d a c o l l e c t i o n r a t i o
of 52 per c e n t .
Department s t o r e s a l e s i n c r e a s e d by somewhat more than the u s u a l
seasonal amount i n August. I n s t a l m e n t s a l e s r o s e by- almost o n e - t h i r d during
the month and were s l i g h t l y above year-ago level's f o r the f i r s t time s i n c e
•December 191*8. Charge-account s a l e s a l s o i n c r e a s e d c o n s i d e r a b l y t o w i t h i n
2 per c e n t of t h e year-ago volume. Cash s a l e s showed t h e s m a l l e s t gain during
the month, l £ per c e n t , and remained well below the d o l l a r amount t r a n s a c t e d
in August 191*8.
\ I

Department S t o r e S a l e s , Accounts Receivable and C o l l e c t i o n s
Percentage change from:
Aug. 191*8 .
J u l y 19h9
, to
to
Aug. 1?1*9
Aug. 191*9 ,

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
In s ta lm e n t accounts
Charge accounts

+15
132
+23

\

+ 3
- 1-

C o l l e c t i o n s during month
I n s ta lme n t accounts
Charge accounts

+ 8
- 2

+ 2
- 9

..

- 8
+. 1
- 2

+ 8
0

Ratio of c o l l e c t i o n s d u r i n g month t o accounts r e c e i v a b l e a t beginning of month
Aug.
July
Aug.
191*8
191*9
'• 191*9
I n s t a l m e n t accounts
Charge accounts

23
*2

22
50


NOTE.—Figures f o r August 191*9 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 .


. 23
51

.17.3
DLPARSZIIT" STORZS - AUGUST 19L9
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

Boston
rev; York.
r.icrjnond
j - V j_S
_O

Indexes; 191*1 average =
Cash s a l e s
. Instalment sales
July
• July
Aug.
Aug.
Aug..
19l*9p
19k8 . 19k9p
1918
1919
1919
160
153
161
133
165
235
I 165
202
228
255
228
217

-202
157
16k
177
168
156
206
206
171a
1#
267
301
203
171
219
281
2kh
20L
279
233
253
373
239 . _ 2 4 3

13h
130
137
159
167
207
168
l8h
219
208
177

181-

157

.

I#

195

168
131
172
129
119
173
151
233
128
153
263
259
162.
136
1 218
176
191
• 175
205
218
326
329
210
139
11*7

Ccllec t i o n s , b y ?

193

100Charge-account s a l e s
Aug.
Aug.
July
191*8.
19L9
1919P
138
127
151
179
167
217
177
181
203
196
226
209

136
115
132
103
128
153
115 ' 181
171
115
168
233.
179
11*3
188
151
li*6
199
208
163
180
239
170
215

173

111

177

Reserve 3 i s t r i c t s .

n t s outsta:nding,e nd of month
Coll e c t i o n r a t i OS"'"
100
i9u:1 avera
O T t-S
Utalment
ounts
Charg,
|July
July
Aug. J u l y Aug.
J u l y Aug.
19&3 19h9o 1919 19L9 19L9c 19L9 191*8 19l*9p 1919 191*3

S t . Louis
\inneaoolis
Kansas C i t y "
San F r a n c i s c o

1 131
121
1<6
179
131
2L6
119
180
149
169
267
161*

129 105
125 119
156 11*8
176 17S
130 106
236 209
113 109
172 160
11*3 151
172 190
253 251
152 lit 6

155 j 150

iua

137113
171
166
lit?
178
156
193
152
166
167
177-

•151 ll*l*
150 1L8
181 1 6 6
169 177
157 ll*5
170 179
158 166
198 189
157 160
168 1 6 6
1 6 3 171 .
161 178

1*6
18
22
17
1*9 U5
28
25
23
1*5 ' 1*3. 1*5
21
1*8 1*5 • 1*9
19
17
20
18
21 ' 51
51
50
19 . 18
20 ' 39
36
36
20
15
15
37
35
35
1*0
60
63 .60
39
32
21
21
51
23
1*9
52
18
60
23
56 •59
25
21
22 ' 22
52 ' 55
5U
18
56
18
17
58, 56
61*
2h
30
6it
25
65

161

163 j 165;

23 j 2 2

I 23

52

50 • 51

.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 d a t a a r e i n process of r e v i s i o n .
£..—These d a t a a r e based on- r e p o r t s of about lt75 l a r g e department s t o r e s r e p o r t 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
1
having 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 obtained on r e q u e s t from t h e
forsFRASER
i i o n of Research and S t a t i s t i c s .
•

Digitized