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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 i
change 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

.
•

.

-16 .
-10
-11

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

- 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
reaeraloU X O
JJ-b t"T*i* r*"f"
X V
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
157

160
160
153
190
173
2b0
20^
19L
209
251 :
r 210
: 212

212
199
193
19^
208
232
206
19L
23u
262
225
.206
205

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

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

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.

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 .