HONGKONG (August 19): NOT a great deal happened on the business scene over the week-end, apart from the demise of the 129-year-old China Mail which was forced to the wall for 'financial reasons.' The Business Section of the SCMP is not the place for a lengthy editorial. But, even a financial journalist has a heart, and I have to record my sadness at the passing of what had become a lively competitor in our particular field. What we have lost is one more rifle aimed at the heads of the taipans in the Colony, many of whom get back much more than they put into our economy and the rice-bowls of the people. Secret takeovers, short-selling, outright swindles, and the spectacle of stock exchange officials riding rough-shod over the interests of shareholders, collectively do more harm to Hongkong than erosion in our trading base. Even the shrewder heads among the Government and business entrepreneurs have not yet grasped, what I believe to be a reality, that 'invisible' profits from financial services will prove to be the backbone for the Colony's earnings in the hard years ahead.