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1\^

6.17.3

BOARD OF GOVERNORS''OF THE FEDERAL RESERVE SYSTEM
September 8, 19U7
DEPARTMENT. SI.ORE. CREDIT ,
V":-

JULY. 192+7

"T:

' •

•

'Instalment accounts o u t s t a n d i n g at: department J s t o r e s i n c r e a s e d s l i g h t l y i n
J u l y , when some d e c l i n e i s u s u a l , and a t t h e e n d ' o f J u l y were 87 p e r c e n t h i g h e r than
on t h e corresponding date of t h e p r e c e d i n g y e a r .
I n c r e a s e d c o l l e c t i o n s on i n s t a l ment accounts r e s u l t e d i n a c o l l e c t i o n r a t i o - of 27 per c e n t , t h e same as i n June.
The. average repayment p e r i o d f o r i n s t a l m e n t accounts o u t s t a n d i n g ~in J u l y was around
s i x months.
Charge accounts reoeivp.ble showed about t h e customary s e a s o n a l d e c r e a s e ,
and continued w e l l above t h e y e a r - a g o l e v e l . ' C o l l e c t i o n s on charge accounts were 2
per. .cent l e s s than i n t h e preceding month, and t h e r a t i o of c o l l e c t i o n s t o accounts
r e c e i v a b l e on t h e f i r s t o f ' t h e month was 53 P e r c e n t . At t h e c u r r e n t r a t e of repayment charge accounts would be o u t s t a n d i n g , on t h e a v e r a g e , about 56 days.
The volume of both cash aind c r e d i t s a l e s d e c l i n e d by about t h e u s u a l
amount from June t o J u l y . Cash s a l e s , a c c o u n t i n g f o r 57 per c e n t of the t o t a l , were
b per c e n t s m a l l e r than i n t h e corresponding month of 19U6. I n s t a l m e n t s a l e s cont i n u e d i n c o n s i d e r a b l y l a r g e r volume,thpn a ..year ago, w h i l e the g a i n i n chargeaccount s a l e s was 9 per c e n t .
—
Department S t o r e S a l e s , . . A c c o u n t s R e c e i v a b l e and C o l l e c t i o n s
1
I

•' ' ' ' .fT^' ' "
;
'

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
' . ., . I n s t a l m e n t ' a c c o u n t s
.
/ Charge accounts

percentage change from;
June 1947
T J u l y 19^6
to

1
1
I
'

+1
-12

1
I

C o l l e c t i o n s during month
Instalment accounts
Charge accounts

+.9.
+87
+23

+ 2

;

-16
- 7
- a .

+5k
+15

-

- u

2

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 b e g i n n i n g of month
(
1
Instalment a c c o u n t s •;' • Charge', account sr

:•

." - •

July
1917

1
1

27
53

.

June
19U7
27
5h

Note: — F i g u r e s f o r J u l y 191+1 are p r e l i m i n a r y and s u b j e c t t o r e v i s i o n .




. -<My
:

32
58

DEPART:3rTT STORES - JULY 1947
Cash and Credit S a l e s , by Federal Reserve D i s t r i c t s
•

1,1

.

r ederal
neserve.
i ' l-4- —c t
s t ni

'

i
3ash s a l e s
1
:• J u l y 1 June i
1947p ! 1SU7 1
I
Boston
•
1 148 ! 197 j
:
ev - York •
I 161
213'
P h i l a d e l p h i a j 156
197
1
206 1
Cleveland
J • 1%
1
Richmond
' •I6h
209 1
Atlanta
1 218 ; 251 |
Chi-cago •
195
231
.-St. Louis
1 196 '
196
Minneapolis " f 2 2 0
262.
Kansas City I 252
273
'
Dallas:/
J 253 i 2 6 6
San Francisco! 221
|
1 229
U. S, T o t a l | 154
1
l

Indexes j 19U1 average = 100
! Charge-•account
Instalment•
1
July 1 June [ J u l y I J u l y , I June '
July
1
1 19U7 !
1 9 4 6
•19U7P f 1947 I 1946 1 1 9 4 7 P
1
1
1.
1
r
I 112
169
.
1 0 1
13k
1 4 9
1 6 9 1
• 100
1 1 4
65- j 117
157
182
!
1 1 1 2
131
172
65
9 9
1
- 190 '
191
112
1 3 2
1 4 9
75
1
82
187
8 1
1 3 2
177
'
77
116 i . 148
1 6 9
' 150
2 5 6
9 3
185
1
114 • I 1 2 U
'
70 |
146
1 9 4
167 1
2 0 7
147
1 3 7
1 3 9
!
99
146
113 L 1 2 4
1 0 5
2 3 6
#9
I
188
1
! 138
1 5 1
I5r
275
9 3
152 | 1 3 5 .
1 116
' 185
3 1 3
194 J
1
80 , 1 7 3
1 2 3
| .123
%
185
J

|«

!

191

•11I1

|

123

75

J

182

143

j

July
1946
1 0 4
107
115
137
1 2 6
1 4 5
127
1 3 8
1 3 8
1 4 2
181
1 5 7
1 3 0

; Accounts Receivable and C o l l e c t i o n s , by Federal Reserve D i s t r i c t s
r.ocoj.rc outstanding, end of month J
collection ratios *
Ir?.1,re| Charge accounts
Instalment
Chr."~e accounts 1
Ti: 'j vfx'.i nt
—-y
,J:nJ 1 July Jul:/ 1 June I July 1 July | June ! J u l y 1 July | June I July
1
j 1946
1946 I1947P ! 1947 '1 1 9 4 6 r l 9 4 7 p j W
. I l 9 4 ' / p ; 3.9.7 11946 1 9 4 7 P 1 1 9 4 7
1
i
1
\
!
1
.
I
!
Boston
| 7 4 1 7 3 I 46
I 2 2 | 20
1 4 2 1 171
1 124
1 2 3 | 4 5 . ! U8 1 48
i v e v : York
18 0 1 3 2
| 22
I 114
I 26.
1 3 8 1 159
w
U
I 24
1 49
J
if 7
1 108 1 2 5
P h i l a d e l p h i a I 7 8 I 81 I 3 8
5 U
145 1 1 7 3
1 24 I 32 ! 5 3
6
o
58
Cleveland
1 1 0 3 1 103
5k
1 24 1 2 6
>5
1 5 3 1 174 ! 1 2 2
1 34 1 %
|
Richmond - 1 72 | 75
1 4 1 ' 1 6 6 I 113 1 21 1 23 ! 27. 1 U 5
50
| 4U 1 ^
! 25
51.
Atlanta
J 9 2 1 92
1 3 7 I 151 | H 9
I 25
1 33
I
| 40 | M
Chicago
I -68
6 8 . !1 3 7
1 5 6 1 1 7 1 ! 117 1 " 3 3 1 3 4 1 U7 I 6 1 . j . 6 1 1 ^
St." Louis
1 77
78 I 45.
1 5 6 ! 172 ! 1 1 9
1 3 2 1 . 3 9 1 56
1 54
;
1 33
70
! 108 1 3 2 1. 33 I 3 9 1 5 6
Minneapolis
1 37
86
1! 55•
1 61
1 4 9 1 168
I 108 . 35 ! 3 4 1 . 3 6 1 6 0
•Kansas City. ! 8 2
| 5 8 I 70
1
79 1 53 - 1 3 9 1 1 5 1
Dallas ! 94 j 9 1
I 2 9 I 2 5 1 30 1 61 | 58
1 127
56
1 3 9 1 154
i 11
I 4o 1 35 ! 4 1
San Francisco |
1 65 | 63 i 6 1
•3.3, 147 ! 1 5 s
! 133
.Federal
- Reserve
. District

.

U._ S. Total j , 6 3

|

82

1 45
1

l 4 o •l 1 6 5
!

I 119- !
t
!

27 !
1

271

i

1

52

I
1

53

|
1

54 !
l

58

p - 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 at beginning of
month.
Note: These data are based on reports of about 475 l a r g e department s t o r e s report- - i n g s a l e s by type o-f t r a n s a c t i o n , more than 400 having charge accounts and •
about'300 having i n s t a l m e n t accounts.• Back-figures zri^y be obtained on r e quest from the D i v i s i o n of Research and S t a t i s t i c s .