Full text of G.17 Department Store Credit : September 7, 1949
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I bO BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM G.17.3 , September 7, 19k9 DEPAIVE.IENT STORE- CREDIT . JULY 191*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 . d e c l i n e d s l i g h t l y during J u l y , a p e r i o d of l i t t l e seasonal change, b u t continued w e l l above the amount outstanding 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 amounted t o 8 per cent l e s s than i n June. The c o l l e c t i o n r a t i o , based o n f i r s t - o t - m o n t h ' accounts r e c e i v a b l e , was 22 per cent i n J u l y , two points below . t h a t i n the p r e ceding month and one p o i n t , l e s s t h a n . t h e r a t i o f o r the corresponding month of 191*8. In J u l y t h i s year i n s t a l m e n t accounts were being repaid, on the average, . i n about e i g h t months. ' Charge.accounts r e c e i v a b l e , which are c u s t o m a r i l y smaller a t the end of J u l y than a month e a r l i e r , d e c l i n e d .13 per c e n t . A more than comparable decrease was noted i n c o l l e c t i o n s during J u l y and the c o l l e c t i o n r a t i o was down f o u r p o i n t s to 50 per c e n t . Department s t o r e s a l e s showed somewhat more than t h e . u s u a l seasonal d e c l i n e i n J u l y with s u b s t a n t i a l decreases r e p o r t e d f o r each type of t r a n s - . a c t i o n . Cash s a l e s were about o n e - f o u r t h below those i n June and remained w e l l below year-ago l e v e l s . Charge-account s a l e s , which account f o r a s u b s t a n t i a l p r o p o r t i o n of t h e t o t a l , were 30 per c e n t smaller i n J u l y t h a n . a month e a r l i e r , while i n s t a l m e n t s a l e s were down 12 per c e n t . B o t h ' t y p e s of c r e d i t s a l e were about o n e - t e n t h below those i n the corresponding p e r i o d of 191*8. Department Store S a l e s , Accounts Receivable and C o l l e c t i o n s . • Percentage ichange from: J u l y 191*8 June 19k9 to to J u l y 191*9 J u l y 191*9 Item S a l e s d u r i n g month Cash Instalment Charge account Accounts r e c e i v a b l e , end of month I n s t a l m e n t accounts Charge accounts • . -2U" -12 -30 . • - C o l l e c t i o n s during month I n s t a l m e n t accounts Charge accounts . -16 . -10 -11 - 1 -13 + 7 - 2 - 8 -9 + 5 - 5 Ratio 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 July, July June 191*8 192*9 191*9 I n s t a l m e n t accounts Charge accounts 22 5° . 21* 51* Note.—Figures f o r J u l y 191*9 are p r e l i m i n a r y ana subject' t o r e v i s i o n . 23 51 DEPARn:ENT.ST0RES-JULY19k9 Cash and C r e d i t S a l e s , by F e d e r a l R e s e r v e - D i s t r i c t s reaeral"T*i JJ-bo tU X *Xr*"f" VO Boston Kevr York •Philadelphia Cleveland Richmond Atlanta Chicago S t . Louis Kansas City Dallas San F r a n c i s c o U. S . ^ T q t a l % Indexes; 19^1 average = 100 Charge-account s a l e s Cash s a l e s Instalment sales July July July July July July June June 192i8 19^8 19k9p 1919 1919 1918 19l9p 19L9 1919P 13h 130 137 159 167 207 I6h 168 18L 219 208 177 212 199 193 19^ 208 232 206 19L 23u 262 225 .206 157 205 160 160 153 190 173 2b0 20^ 19L 209 251 : r 210 : 212 187 131 129 119 151 128 259 136 175 175 205 329 137 ; 163 . 171 163 " 173 113 2h6 152 2 Oh 203 21? 273 153 -117 168 115 127 ll;6 ; 103 128 13U 185 115 112 115 . 168 261 1L3 159 206 150 , 116 187 216 163 180 285 172 163. 163 . 111 207 179' 209 206 207 205, 206 179 221 210 20L 203 13h 125 ' 1L3 162 1L9 181 161. 167 162 181 207 186 201 159 1 Accounts Receivable and C o l l e c t i o n s , by F e d e r a l Reserve D i s t r i c t s .-eserve Boston l:e-.7..York - Philadelphia Cleveland Accounts o u t s t a n d i n g . e n d of month c o l l e c t i o n rarios-:;indexes; 1941 average = 100 Charge accounts talment Instalment I Chargi3 accounts July July July J u l y J u l y June J u l y J u l y July 19l;9D 1919 1918 19l9p 1919 19li8 19l9p 19L9 1915 19Z:9p 19b9 19!i8 101 125 156 176 112 129 157 95 1L7 172 107 Chicago S t . Louis 113 130 232 113 Kansas City. Dallas San t r a n c i s c o 172 253 152 li.ii 169 238 151 U. S. Total la 5 151 ' 133 •p 1C9 151 125 233 137 20 153. ' 18L 160 150 177 153 25 21L 176 17 133 1-3 169 195 176 157 175 153 - 10 170 " 135 167 15 165 158 39 m 21 198 ' 219 185 13 157 185 JL53 163 22 183 163 132 163 13 163 16L 133 172 2k 16L 133- 167 22 ' 2h 29 19 20 13 16 h2 22 2h 22 19 . 25 • 21 21 22 19 23 20 13 32 23 22 22 13 29. Uh U3 16 50 36 35 60 U9 56 52 56 6L 50 51 51 52 ho 36 65 52 60 Sh 57 6L 15 15 U9 19 35 33 62 Sh 57 57 53 . 6k 23 50 51 51 ' Preliminary. . C c l l e c t i c n s during month as percentage of accounts r e c e i v a b l e a t beginning of month. . liOTE.--These .data a r e based on r e p o r t s ' of about k75 l a r g 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 1*00 having charge accounts and . about 300 having i n s t a l m e n t accounts. Back f i g u r e s may be obtained on r e q u e s t from the D i v i s i o n of Research and S t a t i s t i c s .