Joe [Jose] Campos who now holds 25% of Marcopper is buying about 20 million (twenty) shares from Brooks Cadwallader the original locator of the mine in Marinduque at one U.S. dollar a share, one million dollars down and two million dollars a month for ten months. This will give him control of about 39% of the equity almost equal to the 40% of Placer, the managers and financiers.
The boom in the stock market is apparently going to continue as Hongkong and Tokyo start showing interest.
Official Gazette for February 25, 1973: THE PRESIDENT ordered the Commission on Immigration and Deportation to liberalize the visa requirements for stock brokers and investors from Hongkong, Singapore, Taipei and other big cities abroad who are coming to the country to make investments in local business ventures. The Presidential directive was spurred by reports of executives from the Manila and Makati stock exchanges that a big group of investors, led by six top money makers in Hongkong with investment potentials estimated at $500 million, are scheduled to arrive in Manila to confer with local business executives. The President’s order carried instructions to the immigration bureau to waive the visa requirements initially for at least 72 hours to make it easy and convenient for these stock brokers and investors to enter the country. Existing immigration laws are particularly strict against the entry of aliens from Hongkong and Taipei. The President also ordered the immigration commission to study how to make it more convenient and attractive for investors who wish to enter the country to participate in the burgeoning stock business registered by the local bourses.
BARRIO SANTA ROSA in Sarrat, Ilocos Norte, offers a lesson in community development worthy of emulation by the over 33,800 barrios in the country. Specifically, the success story of this once-sleepy barrio shows what a functional barrio council and civic spirit, properly guided, can do to uplift a village and its people. When community development workers, some years back, arrived in Sta. Rosa, they saw a basically agricultural community peopled by some 800 farmers. The place seemed bereft of potential except in the area of agriculture. They soon realized, after, series of surveys and research work, that the people needed skills training to give them the ability and confidence to do various community Projects. The community development workers decided to hold a series of training activities for barrio council members and lay leaders. The barrio folk were taught the provisions of the Revised Barrio Charter, the laws affecting the barrios, the anatomy of the barrio government and how to manage and administer local affairs. After the training, the people’s efforts and enthusiasm were then, directed towards the improvement of their community. A number of projects long needed bid for decades not achieved soon sprang up. Among which are: 1) A multi-purpose center which took the barrio people a cash contribution of more than P10,000 and P6,000 in labor to complete, with the Presidential Arm on Community Development chipping in P7.000 as counterpart fund. 2) A barrio market where even the people of neighboring barrios converge to sell their wares and buy necessities. 3) A spring development scheme which provides potable water to the Presidents as well as to nearby barrios. 4) Communal fishponds with the aid of the Bureau of Fisheries, the PACD and the barrio council. For its many achievements, Sta. Rosa was adjudged the regional winner under” the community award category. The barrio council had earlier been selected as the “Most Outstanding Barrio Council” in a provincial contest, in connection with a province-wide institute on barrio administration, for its being viable, dynamic and functional.
BUREAU OF AGRICULTURAL EXTENSION (BAE) will mark this year’s celebration of Nutrition. Week, March 1-7, as proclaimed by the President, with a series-of demonstrations and training lessons on fruit, vegetable, meat, and fish utilization. The theme for this year’s Nutrition Week Celebration of the BAE is “War Against Waste”, signifying the need to utilize fully our food resources in the national food production program, and in supplying the necessary nutrition needs of the population. The demonstrations and training lessons will be held on March 3 from 9 a.m. to 4 p.m. at the Maria Orosa Hall, BAE head office, Diliman, Quezon City.
It has been interpreted as a return of confidence in my administration.
Lowenstein and Moose, the two men sent by Sen. [J. William] Fulbright’s Committee on Foreign Relations of the U.S. Senate to Koren and the Philippines recommended a reassessment of the need of continuing Clark Air Force Base and Subic Base. I attach the Times Journal newspaper of today carrying this news item.
Since we in the Philippines would like a review of the bases which cannot and should not be a permanent feature of our country, I welcome this piece of news.
I will insist that the U.S. set a date for withdrawal from the bases, say five to ten years from now but there should be a review five years from now.
I have liberalized the entry of Chinese investors. They can now come without
visa for a stay of 72 hours.
I attach a report of the Chief of Staff on Basilan and Zamboanga del Sur.
It is unknown where this and the preceding text comes from because the first page of this entry is missing.