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6,1& RO X'V r-. =*«* OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM Se-„ ..-•: '»>"' September 10, 1935 R&S r t p - 129 For release in evening papers Thursday, September 12 DEPARTMENT STORE SAXES IN AUGUST 1935 Preliminary report Department s t o r e sales increased from July to August by s l i g h t l y l e s s than the usual seasonal amount. Consequently the Board's index, which makes allowance f o r d i f f e r e n c e s i n the number of working days and f o r usual seasonal movements, declined from a level of 80 percent of the 1923-1925 average i n June and July to 79 percent i n August. Aggregate dollar volume of sales in August was l a r g e r than a year ago by 4 percent. Sales f o r the f i r s t e i # t montfcs of the year also showed an increase of 4 percent, with l a r g e r volumes reported i n a l l d i s t r i c t s except the Boston, New York, and Philadelphia d i s t r i c t s . REPORTS BY FEDERAL RESERVE DISTRICTS Percentage change from a year ago January 1 to August* August 31* Number of stores reporting Number of cities included + 4 + 4 507 240 Boston New York Philadelphia Cleveland - 4 — 1 0 + 2 - 2 - 1 0 + 2 51 51 31 32 28 26 13 12 Richmond Atlanta Chicago St. Louis + 7 +11 + 7 + 1 + + + + 6 5 7 1 59 35 53 37 27 21 26 20 Minneapolis Kansas City Dallas San Francisco +10 +10 + 8 + 8 + 6 + 6 + 6 +10 37 17 21 83 17 13 10 27 Total Federal Reserve d i s t r i c t s : Gy # * August f i g u r e s preliminary; i n most c i t i e s the month had the same number of business days t h i s year and l a s t year, but t h i s August there were f i v e Saturdays, as compared with four a year ago.