NEW ZEALAND BONDS

Evening Post, Volume CXXX, Issue 129, 27 November 1940, Page 10

NEW ZEALAND BONDS

ATTRACTIVE YIELDS

(By Air Mail—From "The Post's" London Representative.) LONDON, November 1. Though- New Zealand is not. quite out of the financial wood into which she plunged in 1939, the yields of 4J-4J per cent, now obtainable on her bonds in this country must be considered at-. tractive—particularly when related to the meagre returns ruling in the giltedged market proper, says an article m the current issue of the "Investors' Chronicle." The article, commenting a on the smoothness of the changeover in New Zealand's economic effort from peace to wartime needs, attributes the success of the operation to two facts: first, the wartime economy itself has been carefully planned; secondly the existing machinery—the Publii Works Department, the Department of Industries and Commerce, the Customs Department, the Agricultural Divisionhas switched over to the war needs of the nation with the minimum of confusion to the public. The process has not been unprofitable to New Zealand. Her main export products are dairy produce refrigerated meat, wool, hides and skins, fruit, and tallow. The British Government has contracted to buy from New Zealand the export output of dairy produce, frozen meat, and wool, while it is purchasing, albeit indirectly, hides, tallow, and scheelite. , ' j It will thus be seen that, even allow-] ing for the loss which the Government incurs through assuming responsibility for unwanted products such as apples ana pears—the war has solved New Zealand's main problem—the finding of a market, at a reasonable price, for her principal primary products.