Weather Outlook Cloudy With Showers Thursday
A weather brief notes a 60 percent chance of precipitation Thursday with a high near 16 and a low around 8. The forecast appears on map page B4.
12 Aug 1987
Page 1
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Newspaper
Medicine Hat News
Location
Medicine Hat, Alberta, Canada
Date
Aug 12, 1987
Page
1
A weather brief notes a 60 percent chance of precipitation Thursday with a high near 16 and a low around 8. The forecast appears on map page B4.
The Duke and Duchess of York traded camping gear for formal wear to attend Cardiff's Searchlight Tattoo after a two week canoe trip in Canada. Prince Andrew promised Maj. Gen. Peter de la Billiere to attend and praised the expedition as a great success.
Jim Dickson, a 41 year old blind sailor from Portsmouth, NH, prepared to ride out Tropical Storm Arlene 350 nautical miles west of Bermuda. He aimed to reach harbor before the storm but opted to down sails and wait at sea as winds reach 80 kmh. Dickson had been en route from Portsmouth to Plymouth, England, when autopilot and satellite navigation failed forcing a course toward Bermuda.
Medicine Hat investors crowd the Principal Financial Centre to redeem mutual funds after a Monday bankruptcy filing by Principal Group Ltd. A manager says funds are insulated from creditors but withdrawals may take a week to ten days. Residents recount plans to shift funds and remain cautious about future investments.
Canada Deposit Insurance Corp will cover 125 million of 135 million on deposit at Principal Savings and Trust Co after Principal Group Ltd bankruptcy. Uninsured 467 million in First Investors Corp and Associated Investors of Canada Ltd must rely on asset sales. refunds to insured depositors explained by CDIC.
The Canadian Imperial Bank of Commerce joins Dome Petroleum and Amoco Canada to push for dismissal of Bank of Montreal's suit. Lawyer Jake Howard argues the court should not intervene in a contract between major public companies as the Amoco Dome sale looms. The filing hints at creditor losses if the deal collapses.
Ottawa government introduces the Deterrents and Detention Bill granting sweeping authority to turn away suspected refugees and detain individuals without documents. The measure allows forcing ships from Canadian waters, detaining security risks, and deporting offenders subject to appeals.
An American convoy protecting three U S flagged Kuwaiti tankers arrived safely in Kuwait after a tense voyage through the Persian Gulf. Britain and France plan to deploy four and two minesweepers respectively to safeguard regional shipping, signaling a shift from earlier reluctance to help.
U S brew baron August Busch may endorse the Alberta Wheat Pool project pairing two unnamed malt barley lines with Anheuser-Busch. PT 916 and PT 917 are being developed near Olds to supply Labatt if approved, potentially multiplying sales if flavors meet Canadian standards and Labatt contracts the barley.
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