1982-02-16 — Page 22

日六十月二年二八九一膳公年一十七國民華中育教聞港

二期星

報日僑

WAH KIU YAT PO

日三廿月正年戌壬歷夏

-買二第張六第

一

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分判入勞役中心及監管行爲

偷竊股票擅自變賣 兩財務公司前職員 本港新聞

-K

{) 黎公武,七歲 文 益分别被統八項罪名一覺爲他人拿出來,到另一一一被告拘捕。 月明,廿一歲,回卷;月期間,火和股兵被多,乃於八月五日,將外,

感化官監符行爲兩年。三段,四月廿三日再發 | 在 - 在得第二被告食减 HO-EKKLEEN PALEXESENT KAENEGREPA 給予兩人一次自婚女合一體,共一萬二千股三月,警方其後再還戒會交, ,乃經判首被告入勞役洲一日,再發現免鞬汁「易之狀艰,所得之交形了 現失竊十股長江股票證环一萬五千元及

E

剖四

(1)至(三)以格 東區大厦協會聯歡

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四日期間,在中庭山

俊 榮獲英女皇頒榮譽獎章

(**)

司,儉贜卅七張和苦没 蔡慧雄,及接貼十張長

·大厦二千樓一面財務公 卅一日至五月二期强,同寅只有光艙,在教主任高安琪,警民 二被告,於八一年三月,長英女璧滾區榮醫奨兗州民政主任李國法,行 江桫洪金賚(四)运米 會長陳家君及同地主任張鋆演,無柱, 大夏協會,以永洪名響專員祈德里,東區民政事 ***Y

SHURAL-PHO

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永遠名學岛長:成市邦 港島東區大廈協會吞的聯驗,機實陳家君、一中,李瑤林,蔡永安,

周培俊榮獲梃章。賓主席前合影。《太辣

·茂脏處理其中一高致長十五)晚八路很北角葉洲會理事長沙為香及私

般含道金寧大廈

特價兼免息十月

1.930.4.YES 16

三

ACERGIA... 澤,宮北溼,j觥珠·

佐榮小學校長,東阿阿

會長現任中國案女系

AKE EXI

{&K - WMA - HIZI 盛:英中,實力, SHASAY

-HER-WAS Y

國會永湛亞

| 公協會主席及潮僑盂

脊促漢會到會段,

百會委員;東研究推 WHE-ETIEN

TELEKKE &

灣區多個社團首長。

BEEROHEXER -

RETRONCHE -W

KANG-EIKAL

此次榮獲獎章,實至名 一關懷泡改,總感良多,

NREKLS-PHET 對粱感·協助政府推動, 「成合辦多次大逍管理研

·世過去與東區民政 EQUATORS↑

花,

懿者好啾會 住。凡机已開懷者,亦一律獲得同檢及染,皱站

兩伙,戶戶單级,認阕有詞,一面向山,一面向|中女士致榭員,請祈德 ,核金寧火及九九九年期,樓高让四層,一部「沈靜就遜。副下對孫方

且十個月免息,優待顧客,有入伙紙時,即可入微的祖員,本人藉此梅。 金寧大阪快将完成,現分股出售,新潜特價,并一起混港犯,起無大的用 利奥盛梁有限公司位于般含道十三至十五號一鼓勵區內居民感套與 £8-3/EBON

·会深感謝意,并說新年

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「廚櫃微,星盆等設備。煤、喀及防議,閉路電

廿日舉行親會 說,對話憕導致澗均兵佣。但松吃;德斯道中五|

室,ä房,類色殯家瓷片,地台美術瓷磚,并有三水同鄉會

- 本月二十日(星期

加者預先往會預脚席 ()

29.FONER-41 時遊藝節目, 七時期會 15 KOUTAR-KI

【酸离酒埌银行券第同城

GRIBIKERA

(KE &

1982

中學會考試題預習專欄

經

明獠出版社之

王喜光

-陳勵 提供資料

conomics (18)

I.K. Wong & L.T. Chan

MILI & DALE PRESS LTD.

The Stock Exchange

A stock exchange forma e part of the financial market. It is a place where dealings in aecurities take place, that is, a market where those desiring to buy existing securities are brought into contact with those who want to sell, A stock exchange has a limited membership and the members are permitted to trade securities with each other. Since o

only members are permitted to conduct business on the exchange, others who want to buy or sell in this way must employ members to act on their behalf. Regulations. regarding stock exchanges include The Stock "Exchanges" Control

Ordinance 1973,

Securities Ordinance 1974. and the Protection of Investors Ordinance 1974. -A permanent Securities

Commision, with the. Commisioner for Securities as its head, was set up. In 1976, the Securities (Amendment) Ordinance was passed and likewise The Securities (Stock Exchange Listing) Rules 1976, under the Securities Ordinance, were put into effect. These rules ensure

that

a well run and regulated stock exchange will

perform its functions

smoothly.

Describe the economi frnctions of stock

exchanges,

Stock exchange provides chances of -investment for the general public. It helps to mobilize the "idle" savings of the community to those

firms which geck to put them to productive uses. Through the facilities of the exchange numerous small sums of money can be pooled together

to finance big projects which are beneficial to the community. Stock exchanges make it possible for an owner of securities to dispose of them if he so desires or to Convert his securities into cash when becessary. Stock exchanges nasist the. capital market by

making securities more liquid and in this way encourage people to invest in them.

Stock markets areș also a

means to profit

making. They offer constant opportunities

for the investors to make profits in the " form of dividends or price gains. They can also provide capital for the government. By issuing bonds for sale in the stock F exchange, the government can rai30: funds for its projects eg for construction of the mass transit railway. Often, the turnover of the stock exchange indicates to some extent the performance of an economy. In addition competition between the many buyers and sellers in a free market will help to determine the credit rating which an enterprise deserves,

that the more. efficient and promising enterprises can raise capital more

readily and pay a lower rate of interest than the less

g

efficient enterprises. Furthermore, stock exchanges can ensure the efficient use of loanable funds by those firms which are more competitive and efficient in their business, it is because investors. usually put their money capital in those businesses which are

high-yielding..

The Currency System of Hồng Kong

In Hong Kong, coins of $1000 (gold coins), 85, 82, 81, 50cents, 20 cents 10 cents and 5 cents and currency notes of 1 cent denomination are issued by the government. Coins are normally used in smaller transactions while the 1 cent note is

rarely employed in. common transactions. The major part (95%) of the total amount of currency in Hong Kong consists of bank notes issued by two commercial banks undér

and given the power

to approve new bank-

branches, to exercise

control and

supervision over

operations of

licensed

inspect anko

the

tu accounts. and to wind up ony bank considered to be unsound. Also, there is a Banking Advisory Committee with the Financial Secretary as chairman to advise the Governor on

matters relevant to banking.

bank must have

Zimum paid-up

capital of HK$10.

government the long Kong and Shanghai Banking. Corporation and the Chartered Hank, The Banknotes (paper money) are of $1000, $500, $100, $50, $10, $5, and the value of these banknotes is fully backed by the Exchange Fund. Both the coins and the banknotes are legal tender in Hong Kong while the 1 cent notes are legal tender. only for payment of any amount not exceeding one dollar.

The Banking. Ordinance

In Hong Kong all banks are required to act according to the provisions in the Banking Ordinance which was enacted in 1964 and amended on many occasions As it exists today, the main features of the Banking Ordinance are:

of (1) A Commissioner

Banking is appointed

million and build up

its reserve until it

ia equivalent to the paid-up capital. (3) Each bank is required to maintain a minimum of specified liquid assets equal to 25% of the deposit liabilities of the

bank in any

any calendar

month.

(4) Every bank must

submit an audited financial report monthly, quarterly and annually to the Commissioner of Banking. Locally incorporated banks must have their annual balance sheets published in one local English and one Tocal Chinese.

newspaper.

(5) No banking business

Kong while

local

capital is attracted to stayi

(6) there will be more

deposits in local banks;

(7) the growth of economy and transactions will slow down because of declini ng investment and consumption; (8) the prices of stacks

and shares may fall and speculation in the Stock Exchange. will be less.

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明德出版社胡廕亮提供資料

HISTORY (18)

Philip Y.L. Woo

Mill & Dale Press Ltd.

The period between the two world wars (1.e. 1919 -1959) was far more complicated than the years before 1919 as far as history is concerned. So somehow we may be confused by all the details and fail to grasp the overall, essential

feature T

characterize the period as a whole. In this issue there is aD analysis of the major problems (generally common to all European countries) in Europe, followed by s dissussion of how these problems led up to the outbreak of the Second World War in 1939. Because many of the 1919- 1939 problems came from the First World War 13

can be conducted by a company without obtaining a valid banking license from the goverument, Each: bank is required to poy an annual license fee of HK$200,000, To | itself, an analysis of open a branch, permission must be obtained and an annual license fee of JES10,000 must be paid for every single branch,

2. Outline the main

effects on the economy of a rise in bank interest rates On loans and deposits.

A rise in bank interest rates on loans and deposits will probably have the following main effects:

(1) loans will be more expensive, and individuals and businessmen will then be less interested in horrowing money from banks;

(2) thus investment will

slow down and

decrease. Consumers' demand will also fall as they will borrow less to purchase property, car etc; (3) production costs will

be higher because of the higher interests on loans. (4) export prices will

rise and exports will drop as they become less competitive in overseus markets; (5) foreign capital will

be induced to Houg

this sort is in effect. one showing the ways how the First World War - brought about the Second World War.

MAJOR PROBLEMS OF EUROPE 1919-1939

1. Nationalist feelings

becoming tense - Before 1919, autocratic empires like Hapsburg Austria. and Tsarist Russia ruled. People fought for independence against them. After: 1919, empires like these fell, and new democratic states came into being. The nationalist feeling of many European people became more intense. People in different countries loved their fatherland. When, war broke out, they were more willing to fight for their countries. Before 1914, wars were fought between dynasties or empires.

After 1914, wars were fought between peoples. Wars became more bloody.

Economic recovery. delayed by reparations

The 1919. Versailles Treaty held that Germany should pay the

Allies

reparatione

(ize. a large sum of money). This delayed. the economic recovery of Germany. When economic conditions were bad, trouble became more serious in

society.

Unstable small states in East Europe – These states had shallow. democratic tradition. They might be easily conquered by aggressors. In the 1950s, Germany was the aggressor. Other powers tolerated

Germany at first. But

they could not let

Germany conquer all

East Europe. In the end

Geley resisted

So war broke

out, the Second World: War

Defects of the Versailles Settlement.

The settlement was for the First World War. However, as a

result of the settle- ment, there were two kinds of powers:

powers that wanted

change the settlement - e.g. Germany, Italy: (which claimed that she was not justly rewarded) Soviet Russia

(which was not invited to the 1919 peace conference and.

thus resented the

settlement). powers that wanted to maintain the settlement - e.gi France (which aimed at preventing tlie revivial of Germany), Britain (which wanted peace. at all cost so that trade would be good) and the USA (which withdrew from European affairs after 1919).

5. Social discontent and

trouble – Because of pour economic

conditions, people became discontented. Different social classes ran into conflict with one another Soldiers could not adjust themselves to peaceful lives when the war was over, Violence increased.

6. Communiвo versUS Fascism Soviet Russia became communist country. People in capitalist. countries such as Germany and Italy. feared that communi Bu would take their countries too. Thus fascist groups were formed, .e. extreme nationalist groupš aining at saving their countries from communi at penetration. Society became more unstable in this way.

Decline of Europe Colonies that Europeen powers established

began to fight for

independence. The power of Europe as a whole began to decline because of the First World War. Non- European powers like the USA and Soviet Russia rosè în importance.

HOW THE SECOND WORLD WAR BROKE OUT IN 1939

1

Germany and Italy (under the control of the Nazis and the Fascists respectively) committed aggressions against small- countries. The other powers (such as France, Britain);

a. at first appessed the aggressurs i.e. not resisting them, but

later made war on them when it became clear that further appeusement was useless.

2. Aggressions committed by the Germany and Italy included:

war against

Ethiopia

in 1934

Italy

march into the Rhineland areas by

Germany in 1955 support for rebels. in Spain by Italy and Germany from 1930-39

invasion of Austria by Germany in 1938 Invasion of Czechslovakia by Germany in 1938 invasion of Poland by Germany in 1939 From 1954 to 1939, other powers did not resist the agressors. a. Soviet Russia did

not trust France. and Britain, Stalin

(of Soviet Russia) thought that France and Britain encouraged Germany. to conquer East Europe so as to weaken Soviet

influence there. Britain va 6 preoccupied with colonial problems. She did not want to

t without the support of the USA. The USA did not want to get involved in “ European affairs, France was alone. She was too weak to defend against. aggressions,

especially when the aggressions were not against herself.

Italy and Germany knew that the other powers dared not trisk another world var to resist their aggressions. The memory of the destructiveness of the First World War was too deep. People want to

prevent war at all cost

f. In 1939, when

Germany invaded Poland, the western powers knew that they must resist the aggressors. They nude war on then