TUESDAY, MAY 21, 1974
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+THERE IS AN EXCHANGE BAIKS ASSOCIATION ALREADY WHICH IS STRONG AND INFLUENTIAL= EUT DARE I SUGGEST IT COULD AFFORD SOME UP-TO-DATE CHANCES? AN ASSOCIATION OF BANKS SUCULD SURELY INCLUDE ALL THE LICENSED BANKS AND IF THERE IS NOT SUFFICIENT INSENTIVE FOR EVERY DANK TO CE A IZNDER, IT WOULD SEEN THAT TILRE IS A NEED OF SOME CHANGE IN RULES OR ATTITUDE.+
HE CONTINUED THAT THERE WAS NOU A LOVE AFOOT TO BRING TOGETHER THOSE FINANCE COMPANIES WHO DERE DEALING WITH EACH OTHER IN AN INTER-FINANCE COMPANY KONEY NARKET.
+AN ASSOCIATION OF THESE COMPANIES WITH A STRICT RULE BOOK AND GOOD SUPERVISION WOULD HAVE A STRONG CASE WITH WHICH TO APPROACH GOVERNMENT UITH A VIEW TO OJTAINING A RESTRICTED TYPE BANKING LICENCE FOR ITS HENDERS AND IT INGIT ALSO HAVE A STRONG CASE FOR REQUESTING TIE BANKS TO INCLUDE ITS NENBERS WITHIN THE INTER-BANK MONEY MARKET- IJO DOUBT TIE BANKS, DEFORE CONFLYING WITH SUCH A NIQUIST, WOULD WISH TO ENSURE TIMAT ANY SHORT TERM LENDINGS TO THE MEMBERS COULD CE INCLUDED IN TIGER SPECIFIED LIQUID ASSETS, SOMETHING NOT ALLOWED AT PRESEIT DECAUSE TIKRE IS SCHE RISK IN OPENING UP THE HONG KONG DOLLAR DEPOSIT BASE TO AN AREA OVER WHICH THERE ARE NO POWERS OF SUPERVISION.+
HE STRESSED THAT AT A TIME WHEN DENANDS FOR FINANCE BOTH IN HONG KONG AND IN THE FAR EAST AS A WHOLE VORZ IHGREASING, IT MUST BE TO OUR ADVANTAGE TO EROASEN TIE SCOPE OF OUR MONEY AND FOREIGN EXCHANGE MANKETS,
NOTE TO CDITORS:
COPIES OF THE FULL TEXT OF 17. OCKENDEN'S SPEECH ARE COXED.
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50 ILLEGAL IJTS PULLED DOWN
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HOUSING DEPARTMENT STAFF TODAY DEMOLISHED ABOUT 50 ILLEGAL SQUATTER HUTS IN WAN HON STREET IN KUUN TONG.
THE STRUCTURES VERE NELLY-BUILT AND KOST OF THEM VORE UNOCCUPIED, THE OPERATION, CARRIED OUT BY ABOUT 80 OFFICENS AND MEN, HAS CONFLETED DEFENE NOCH UITI:CUT INCIDENT.
ACTION
A SPOKESHAN FOR TUZ HOUSING DEPARTIZUT SALD THIS MORNING'S ACTION UAS TAKEN TO STOP RASKETEERS FROM PUTTING UP ILLEGAL KUTS THERE FÖR SALE.
SHE WILL CONTINUE TO KEEP A CLOSE WATCH ON THE SITUATION AND TAKE FURTHER ACTION IF REQUIRED,+ LE SAID.
RECENTLY. RACKETEERS HAVE BEEN ACTIVE IN THE AREA. THE SPOKES.AN" REPEATED IS ABEVICE TO THE PUBLIC THAT GREAT CARE SHOULD BE TAKEN LIEN TIEY AND APPROACHED BY PEOPLE VITI OPPERS OF SALES OF SQUATTEN-TYFE STRUCTURES.
+ANYONE FAILING TO KEED THIS ADVICE WILL RISK LOSING MONEY TO THE RACKETEENS, + K2 ADDED.