NEWSLETTER 3, SPRING 2008
HOW WALL STREET WORKS
O
nce upon a time, in a village, a man appeared
and announced to the villagers that he would buy
monkeys for $10 each.
The villagers, seeing that there were many
monkeys around, went out to the forest and
started catching them. The man bought thousands
at $10 and, as supply started to diminish, the
villagers stopped their effort. He further
announced that he would now buy at $20 for a
monkey.
This renewed the efforts of the villagers and they
started catching monkeys again. Soon the supply
diminished even further and people started going
back to their farms. The offer increased to $25
each, and the supply of monkeys became so
small that it was an effort to even find a monkey,
let alone catch it!
The man now announced that he would buy
monkeys at $50! However, since he had to go to
the city on some business, his assistant would
now buy on behalf of him.
In the absence of the man, the assistant told the
villagers. 'Look at all these monkeys in the big
cage that the man has collected. I will sell them to
you at $35, and when the man returns from the
city, you can sell them to him for $50 each.'
The villagers rounded up all their savings and
bought all the monkeys.
They never saw the man nor his assistant again,
only monkeys everywhere!
Now you have a better understanding of how Wall
Street works.
- Anon
Tephrosia filipes
a New Threatened Species
T
he NSW Scientific Committee has made a
Preliminary Determination that a small plant of
the pea family,
Tephrosia filipes,
is a Vulnerable
species. The
Tephrosia
was declared threatened
following a nomination by Patricia and myself
two years ago.
We had found the 40cm high, pink flowering
plant growing in two small populations near the
Shannon Creek dam site in 2003, and made the
nomination after learning it had only been
recorded at a handful of NSW sites, all within
the Clarence Valley.
In preparing the submission, we were required
to show the species was poorly represented in
the national park system, and unless protected,
was under threat of extinction in NSW.
This was not a difficult task. Only two small
populations had been found near Shannon
Creek, one numbering perhaps twenty plants
was close to the dam wall site, and another fifty
plants in the path of the proposed access road to
the dam.
Consultants for the dam project reportedly
undertook over 400 person/days of general flora
surveys, and were unable to find any other
populations of
Tephrosia
on the 5,000 hectare
property. Despite being advised of the
nomination, no attempt was made to realign the
road, and as a result both populations have now
been wiped out.
It is not all bad news for
Tephrosia filipes
, we
have found a small group of plants in the nearby
Chambigne Nature Reserve, and it had
previously been identified growing in small
1
CLARENCE ENVIRONMENT CENTRE
29 31 Skinner St, South Grafton 2460
Phone / Fax 66 43 1863
Email
admin@cec
.com.au
Website www.cec.org.au
Reminder
:
renewal of membership fell due on
1
st
July. Special Deal - You can renew your
membership for 5 years for $2 5 . your member-
ship fee goes toward helping the environment &
keeping Clarence environment centre running.