SECURITIES: Radioactive Bull

On Toronto's Stock Exchange, center of the wildest speculation since Wall Street's 1929 spree, the big play had been in oil—until oil stocks tumbled three months ago. Last week a bigger play was on. This time the magic word was uranium, and the new speculative frenzy was once again luring American capital scared out by the drop in oil shares.

What set off the new spree were almost simultaneous reports last month of a big uranium strike on Lake Athabasca, in Northern Saskatchewan, and a base metals discovery in New Brunswick. The uranium strike was made by veteran Promoter Gilbert Labine,...

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