24 Jan 1998
Page 1
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Newspaper
Medicine Hat News
Location
Medicine Hat, Alberta, Canada
Date
Jan 24, 1998
Page
1
The Canadian dollar slid to a record 68.61 U.S. cents in early trading, later edging to 68.84 at the close, with analysts noting 69 cents as the next hurdle. Weak retail data and ongoing selling pressure point to a slowing economy.
Conflicting cash allegations arise as operators accuse Jim Gray led Canada West Foundation of taking lottery funds. Louis Perreault of Hospitality Alberta says $49,500 in lottery money was accepted last year. Perreault and others urge Gray to return the money to Alberta Lotteries amid plebiscite discussions.
Royal Bank of Canada and Bank of Montreal propose a multi billion dollar merger to form a dominant bank with about 92 000 employees 17 million customers and more than 450 billion in assets If approved it would be the first Canadian bank merger in 37 years The announcement unsettled consumers and sent bank stocks higher as analysts see potential for further consolidation and two to three huge players in the industry
Const Jolene Watson, in her second year with Medicine Hat Police Service's forensic identification unit, explains how fingerprints on an ATM envelope helped convict Ronald James Lorenz in a $2,000 fraud. The five-member team investigates over 1,000 cases yearly, from property crimes to homicide, using photo, envelope, and hair evidence.
The Clinton White House reels as Monica Lewinsky is subpoenaed to testify before a grand jury led by Kenneth Starr. Lewinsky's possible immunity talks raise the prospect of her retracting earlier denial. Public support slides from 60 to 50 percent in a Time CNN poll, signaling political damage.
A man evacuated from a rooming house fire in Fredericton faced an outstanding arrest warrant when police checked names during evacuation. The officer did not identify the man or the warrant’s nature, noting it was not his lucky day.
The Maple Leaf Gardens leadership publicly apologized for sexual abuse of players by staff in the 1970s and 1980s. Steve Stavro and Ken Dryden heard victims and families speak as 10 lawsuits seek damages, with 90 known victims receiving counselling offers.
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