RECORD LOW YIELD

New Zealand Herald, Volume LXXI, Issue 21861, 25 July 1934, Page 7

RECORD LOW YIELD

RETURN ON. STATE LOANS TWO STRIKING CASES AN AUSTRALIAN PARALLEL The high prico ruling for Government securities on the New Zealand Stock Exchanges was strikingly illustrated in dealing fit Christchurch and Auckland yesterday. The 1910 4 per cent stock sold at £10"3 17s Cd on the Christchurch Exchange and at £lO3 5s on tho Auckland Exchange. Half-yearly interest on the stock was distributed on July 16 so that tho issue is carrying practically no accrued interest. Based on the sale at £lO5 17s (3d, tho yield, including redemption, to the investor is £2 18s Gd and on the salo at £lO5 ss, ib is £3 0s 9d. In tho memory of sharebrokors this is a record low yield for Government securities. Buyers have shown a preference for the 1940 issue which is puzzling to brokers. On tho other 4 per cent issues tho yield ranges from about £3 8s to £3 10s per cent. The average yield on all 4 per cents is about £3 7s. Consolidated loans in Australia also have reached higher levels. During the week ended July 14, the average interest yield from the 4 per cent issues was reduced to tho record low level of £3 4s 10c] per cent.

THE CITY MARKETS

ORANGES AGAIN DEARER DUCKS SELL LOWER As a result of shorter supplies, oranges wero in better demand at the City Markets yesterday, and sold at improved prices. A largo cargo of Island fruit, however, is duo by tho Karetu on Monday and this includes a substantial consignment of oranges. Few material changes took place in other fruits. Tho market was still well supplied with apples, which Avere dull of sale.

All classes of vegetables in season were in abundant supply, particularly cabbage, potatoes ancl carrots. New potatoes are now coining forward rapidly and continued to sell cheaply. A medium quantity of poultry was offered and the demand was keen for all table birds. With the exception of ducks, which were easier, prices remained steady. Prices were: —• FLIUIT Apples, Delicious, 2s to 3s Gtl case; Jonathnn, 3a to sb; Winesnps, 2s Gd to 6s 0(1; Salome, 2b to 4s; Ballarats, 'ls to 5s 3d'; Granny Smith, 3s Od lo Cs 6(1; Sturmcre, 3s (3d to ss; Sturmcrs, extra, funcy, up to 7s; pears, Coles and Nelis, Gs to 7s Gd; passions, 5s to lGs, extra choico realising higher values; oranges, Island, repneks, 10s to 255; Cnlifornian, 25b to 355; lemons, cured, 0s to 12s Gd; otiiers, 4s to 8s; grapcfruit. New Zealand, largo, 5s to 5s Gd; medium, 3s to 4s; small, 2s Gd to 3s; California!), 28s to 345; tomatoes, hothouse, Gd to Is 3d lb; outdoor, extra choice, smooth, 4s Gd to Gs; others, Is to 4s; bananas. 10s to IGs; tree tomatoes, 3s to 5s Gd; pines, Queensland, 10s to 14s caße; coconuts, 12s Gd sack, FIELD PRODUCE Potatoes, new, Id to ljd lb; Southern, 5s Gd to Gs Gd cwt; swedes, Is 6d lo 2a Gd bag; onions, Is Gd to 4b 3d; kumaras, 4s Gd to 7s; cabbage. Is io 4s sack; on benches, Od to' Is Gd dozen; cauliflower, 2b to 5s 0d sack; on benches. Is lo 3s Gd dozen; pumpkins, 5s to 10s cwl; cucumbers, 5s to 8s dozen; carrots. Is Gd to 3s bag; parsnips, Is Gd to 3s Gd: beet. Gd lo Is dozen; turnips, 3d to Gd; radish, Gd; spring onions, 5d to Od bundle; spinach, Gd to Is dozen; leeks. Id to 3d bundle; Brussels Sprouts. 3jd to 4]d 11); French beans, hothouse, Is to Js Gd lb; citrons. 10s Gd to 12s Gd cwt; lettuce, Is to Is Gd case; celery, cooking, Gd to Is bundle; dessert.. Is Gd to 3s; rhubarb, 2s Gd to 4s dozel). POULTRY Cockerels, heavy breeds, prime. 3s Gd to 5s 3d; not prime, 2s Gd upward; light breeds, prime, 2s Gd to. 3s Gd; not prime, 1b 6d upward; fat roosters, heavy brills, prime, Is 0d to 2s Gd; light, Is Gd to 2s; fat. hens, heavy breeds, 2s 0d to 3s Gd; light, Is Od to 2s 6d; pullets, heavy breeds, best. 2s 6d to 4s; mailer. Is 3d upward; light breeds, best, 2s Gd to 4s; smaller, Is 3d upward; drakes, young, prime, 2s to 3s; smaller. Is 6(1 upward; old. Is 3d to Is Gd; ducks, young. Is Od to 3s; old. Is 3d to.ls fid: turkey hens. 4s to 6s; gobblers, Gs to 12s; guinea fowls, 3s to 4s. NEW ZEALAND APPLES PRICES IN LONDON LONDON, .Tuly 23 Now Zealand apples shipped by the Port Hobart, Port Curtis and Fordsdale sold as follows: —Granny Smith, 14s to 17s a case; Stunners, 9s 6d to 12s; Delicious, 9s 3d to 10s; Doherty 9s Gd to lis 3d; Pokewood, 10s Gel to lis Od. TALLOW VALUES STEADY QUOTATIONS FOR APPLES Tho Department of Agriculture has received the following cablegram, dilted July 21, from the High Commissioner for New Zealand, London: — Tallow.—Xo auction this week. Spot, business continues jn good colour sorts. Low grades neglected. Values about unchanged. Hemp.—The Manila market is quiet hut steady, with values unchanged. Tho Sisal market is dull and easier at lower prices. July-September and AugustOctober shipments sold at £l4 7s (3d Tho Now Zealand market is dull with no first-hand sales reported.. Apples.—Tho cargoes of tho Trojan star at Avonmouth" and tho Turakina at Manchester aro in good condition, excopt for Statesman, which-arc partly wasty. Steady demand. Current prices aro:— Dunn's Favourite, 7s to _ 9s; Homo Beauty, "9s to 9s Gtl; Delicious, 8s to 10s Gd; Ballurat, 10s 6(1 to lis; Dougherty, JOs to 13s; Granny Smith, 12s to 17s 6d; Statesman, 9s to 12s: Stunner, Yates, Taslna and liokoWood, 10s to 12s.

HIDE MARKET STEADY SHEEPSKINS EASIER There was a ftirthcr' reduction 111 prices for sheepskins lit Iho fortnightly sa 6 held by Auckland brokers yesterday. 11 id en sold at about. late rat*s, whilo tullow also wfta Utt* changed in price. Prices for best Blades were:— Hides.—Ox (abattoirs). heavy, Old toMd par lb; medium, fijtl to Gd; light, 4|d to <ljd; ox (country butchers ), heavy. Bid to 5»<1; medium. 4id to sd; light, Uja to 4di cow (abattoirs), heavy, lid (6 4{d; light and medium, 4|d to, <Ud: cow, (ecmnlry butchers'). heavy. Md to ;ijd, Unlit, atid medium, Hid to !l:1d; farmers, all weights, 2jd to Hid; yearlings (abattoir*), heavy. 7d to 7jd; light, 7J-d to 7Jd: eocoiid KNide and farmers' lots, -lid to 44dcut and faulty. '2ld to 3M; Calfskins, .lib (0 Gib, 7{( to fid; ('.lb to filb. 8d to aid: cut, second and slippy. 4d to Gjd. Dried Sheepskins.hreoquartcr to full wool, medium to fine crossbred, />d to s}d; rant-so crossbred. 4Jd to 41d; damaged lilHl faulty,. Sid to Slid; half-wools, medium to fine crossbred, 4Jd to fild; conrse crossbred, •td to 'lid- damaged and faulty, 2?d to «'ld; bare to quarter-wools, sound, i)jd to 4d; dnmagc-d and faulty. Id to lid. Salted Sheepskins.—Threequarter to full wool, large, 'is to Is 8d each; light 'o medium, f!s to .Is 7d; half-wools, largo. .Is -Id 1o 3s 8d; light to medium, U 7d to 2s 4d • hare to quarter-wools. Is (o Is (id. Tallow.—Good quality, 12s to 12s fid per cw't ; flccoml tzratio. 10b to 10s 9d ; third grade and inferior, OS to 7o Gd.