Full text of G.17 Department Store Credit : October 6, 1950
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BOARD OF GOVERNORS OF THE FEDERAL•RESERVE. SYSTEM
G.17.3
October 6, 1950
'
DEPARTMENT STORE CREDIT - AUGUST 1950
.
Instalment accounts outstanding -at department stores rose further
during Aunust., exceeding by o per cent the all-time high recorded at the end o f /
the ^receding month, The amount outstanding on August 31 was $6 per cent abqye
• that of a year earlier. Collections on instalment accounts also increased during
the month and were about one-third larger than in .August 19h9*
The collection
ratio based on the first-of-month accounts receivable amounted to 18 per cent,
one point higher than in July but'3 points below the corresponding 19h9 figure.
At the prevailing rate of repayment these accounts would be liquidated in approximately 10 months, one month longer than in the corresponding period last .
year.
Charge accounts receivable at the eftd of August were L per cent larger
than in July and 19 per cent above those of a year earlier. Collections on charge
accounts which customarily decline in August were down slightly. The ratio of
collections during the month to accounts receivable on August 1 v/as $1 per cent, .
2 points.higher than in July.
,
Department store sales of all types showed substantial gains in August,
as is customary at that time of,.the year. . In comparison with. the volume of a year
earlier, however, cash sales were up only 8 per cent while charge-account and instalment transactions increased by 22 per cent and I i per cent, respectively.
tt
'Department Store Sales, Accounts Receivable, and Collections
Percentage change frcn:
Aug. 19U9
July 1950
to
to
•
Aug. 1950
Aug. 1950
• Item
Sales during month
Cash
Instalment
Charge account
. ,
+13
+ 12
+16
•
Accounts receivable, end of month
Instalment accounts
.
/ .
Charge accounts
Collections during month
Instalment accounts
Charge accounts
'
+ 8":
+18+22
+ 6
+ -h
-
+56'
+19
+ 9
- 1
+3h
+16
Ratio of collections during month to accounts receivable at beginning of month:
Aug.
• July'
Aug.
• 1950
1950
1919
Instalment accounts
18
17
21
Charge accounts
51
b9
51
NOTE .'—Figures for August 1950 are preliminary and subject to. revision.
DEPART:.E:IT STORES' - AUGUST. 1950
Cash and Credit S-les, by Federal Reserve Districts
Feaer-al
reserve
District
Boston
i e . " York
:v-Philadelphia'
Cleveland
Ric-knond
Cnicaro
St.. Louis
hinneapolis
K.ansas City
Dallas'
San Franoisco
. U. S. Total
AUg.
^1950p
166
165
; 166
197
! 175
' 257
208
212
252
281i
253
227
196
Indexes; 1941 average = 100
•
C h arge-acccunt sales
instalment sales
C ash sales
'.Ug.
July
j.Uf.
July
f,Ug.
July
Aug.
AUg.
1950 - 1949.
1950p
1950p
1950
1949
1950
1919
!
140
111
151
176
169
225
163
167
205
251
230
205
160
153
159
163
165
232
188
202
228
256
228
:
217 :
173
161
266
202 ' 159
191
158
177
-168 •
185 •
157
206
281
217
201
184
153
301
252
442
171
224
245
282
213
302
273
338 , 238
246
422
231
411
275
c95"
.188
246
- 263
320
240
241
348 203
357 .
274
364
395
335
594
2#
. 287
.
257
194
210
.133
137
161
186
171
208
163
195
198
229
238
236
138
127
150
179
167
218
177
182
203
1 # .
221
212
182
173
.accounts Receivable and Collections, by Federal Reserve Districts
-Federal
Reserve
i-.ccounts outstanding,end of month
Collection ratios--indexes: 1941 average = 100
Charge-account
Instalment
Charge-acccunt
Instalment
|July
.--ur. July "Up.
1 July
.-rag. July ,^ug.
1950p 1950
1949 1950p 1950 1949 I950p {1950- 1949 I950p 1950 1949
225
m
265
176
Lll
204
267
222
308
«j
U. 2. Totalj
215 ' 134
172
206
15c
179
249
169
131
246
3>9
119
190
180
273
203
149
! 289 1 179
519 ! 270 :
245 j 164
243 ' 230 j 155
J
162152
2C0
198
171
199
196
227
197
223
203
224 |
168
137
143
152
171
201
166
190
166
147
175
192
162
155
221
194
162 • 152
210 1 164
167
193
201
177
192 | '184
161
16 - 1 4
16
15
15
17
17. 17
18-- — 1 7
14
13
20
21
18
-19
20 '
20
19
17
12
12
20
19
18 ' 17
46
19
17
44
19
49
19
51
20 | 44
16 !• :42
25
59
21
49
23
55
55
51
'
23
55
43
43
47
50
42
40
57
50
52
53
49
51
21
49
•y
51
48
41
48
51
43 '
42.
60
52
.56
56-.
51
54
51
-- - Collections .purine month as percentage of accounts receivable at beginning of
x
month.
.
F C T Z . — T h e s e data-are based on reports of about 475 large department stores
reporting-sales.by type of transaction, more than 400 having charge accounts and
" ' o i , 3C0 having instalment accounts. . Back fiHires may be obtained on request from
jo't
the LLvision of Research and Statistics.
.
.
