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BOARD OF GOVERNORS OF THE' FEDERAL RESERVE SYSTEM
September 6, 1956.

G.17

DEPARTMENT STORE CREDIT - . JULY 1956

Instalment accounts o u t s t a n d i n g a t department s t o r e s d e c l i n e d s l i g h t l y in .July, .but continued '.veil above the l e v e l pf a year
e a r l i e r . C o l l e c t i o n s o-n i n s t a l m e n t 'accounts w e r e e s t i m a t e d a t ll( per
cent of balances outstanding 'on the f i r s t of. t h e month, 1 point l e s s
than in June but -the same ..as a year ago.
Charge accounts r e c e i v a b l e d e c l i n e d s e a s o n a l l y during J u l y ,
and a t the end of the month were 6 per c e n t l a r g e r t h a n i n , J u l y l a s t
y e a r . The J u l y c o l l e c t i o n r a t i o f o r charge accounts was estimated a t
hh per c e n t , as compared with U6 per cent f o r a. month ago and U3 per ..
cent f o r a year ago.
• '
'•
Both cash and c r e d i t s a l e s were down s u b s t a n t i a l l y from June
t o J u l y , as i s u s u a l a t t h i s time of y e a r . Eacntype- of t r a n s a c t i o n ,
however, was up from a year e a r l i e r — c a s h and charge-account s a l e s
by 1 per cent and instalment s a l e s by 7 per c e n t .

Changes i n Department Store Sales and Accounts Receivable
Percentage change from:
. June 1956
J u l y 1955
to
to
J u l y 1956
July 1956

Item
S a l e s during month:

Total
Casn
Charge
Instalment

+
+
+
>

-18
* -19
-19 -13

"

Accounts r e c e i v a b l e , end.of month:' -Charge
Instalment

2
1
1
7

> 6
• 18

r 9
- 1

C o l l e c t i o n R a t i o s and Percentage D i s t r i b u t i o n of. Sales

Collection ratios i / :

Charge accounts
I n s t a l m e n t accounts

Percentage d i s t r i b u t i o n of s a l e s :
1

June

July

July
; 1956

Item

Cash
Charge
Instalment

1956

1955

hk
1U

U6
15

U3
1U

US
-15
U2
k2
13 ... 13

U5
k2
13

.
.

—
Digitized for 1 /r*- o l•l e c t i o n s during month as a percentage of accounts r e c e i v a b l e at b e g i n FRASER
TC
ning" of month.
.

c-,17

'Federal
• Reserve
District

Instalment
Charge-account
sales
sales
Total
Cash s a l e s
1
June ! 56 iJuly 1 55 June 1 56 July '55 June 56 July '55 June'56 iJuly '55
to
to
to
to
to
to
to
1
to
July 1 56 jjuly }.S6 J u l y ' 56 July '56 July 1 56 July 1 56 J u l y ' 5 6 ] J u l * ' %

Boston
Fev: YorkPhiladelphia
CI eveland
Richmond

-33
-30
-30
-16
-19
• - 5
C i or- go - ^
-23
-lb
S t . i.o\ii"s
-16
' -12
+ 1
San rranciscc
- 7
-U. S. Tota)

-18.

I
I

*2
*5
0
•2
+1
+3
0
+ $

!

-

+1
-U
*h

I
1

+2

-31
-28
-28
-12
-17
- 8
-21
-13
-lU
-11
- 3
- 8

+1
+h
•3
. +1
0
-1
-2
*5
0
-U
' >1
0

.

*1 J

-19 .

!

-39
-36
,-35
-23
-22
- 5
-26
-19
-20
-16
+ 1
-10

. +1
+
3
0
-1
0
+3
+U
+7
+1
-U
>6
-3

'19

+1

-23
-2k
- -19
- 8
-lh
- 1
-20
+ 2
- 5
- 8
•11
> 1
-13

i

Accounts r e c e i v a b l e , end of month
(Percentage changes)
Charge acco ants
June '56 July '55
to
to
July '56 July '56

Federal
Reserve
District
Boston
York
Philadelphia
Cleveland .
Richmond
.-.tlanta
Cnicaro
St. Louis
Minneapolis
Kanjas City
Dallas
San Francisco
U. S. T o t a l




-Ih
-11
-10 '
- 8
- 9
- 5
- 9
- 7.
-16
-10
- 6
- 6
-

-

•-)

•

instalment
June ' 50 uu±y ' »
to
to
J u l y '56 July '56

- 1
•10
+ 3
+ 3
+ h
+ .2
• 9
+ 12 •
+ 8
0
+ 8
+ 2

' + 9
-3
+ 19
-1
+ 15
-2
+ 22
-1
+ 21
-1
-2
! +1U
+ 17
-2 .
+ 26
*3
+ 12
-2
-2
- k
+1
• 9
+ 30
0

+ 6

-1

+18

•

• 6
*13
- 9
•16
+ 7
+ 10
0
> 1
+ h
. -12
+ 3
•13
* 7.