XN000022-1975-06-18 — Page 4

I

3

-

!

WEDNESDAY, JUNE 18, 1975

ON THE THIRD ASPECT, DR. CHUNG SAID THE MAJORITY OF THE UNOFFICIALS AGREED THAT IT WOULD EST LA PROJITE TO COTILLY STOP CONSOLIDATION MID SYNDICATION BY CROUPS OF SMALL SPECULATORS ON THE PROPOSED CCMODITY EXCHANGE AND FELT THAT THERE WAS A REAL DANGER OF THIS OCCURRING AND INVOLVING PEOPLE WITH SHALL REAUS AND SAVINGS.

HE RECALLED THAT THIS HAD HAPPENED DURING THE STOCK EXCHANGE BOOM IN 1972 AID 1973 AND THAT MANY PEOPLE HAD SUFFERED DISASTROUSLY VIEN THE MARKET EVENTUALLY CRASHED.

+THERE IS NO DISPUTE THAT SPECULATING IN COMMODITY FUTURE IS A FORM OF GANDLING,◊ DR, CHUNG SAID, KOTING THAT <OVER- GANDLING HAS CAUSED MÄNY FAMILY TRAGEDÏES III THE EAST AND PARTICULARLY WITH THE CHINESE POPULATION.

THE HON. WILSON WANG AND THE NON HILTON CHEONG-LEEN ALSO VOICED DOUBTS OVER THE WISDOM OF SETTING UP A COMMODITIES EXCHANGE IN HONG KONG.

14