TORONTO FINANCIAL DISTRICT HIT BY POWER OUTAGE
Toronto's financial district, the
business heart of Canada, slowed to a near halt this afternoon
after being struck by a power blackout, utility and business
officials said.
    The blackout occurred around 1515 EDT in about an
eight-square-block section of the city's downtown core, home to
most of the city's skyscrapers, containing the  headquarters of
many of Canada's major corporations and financial institutions.
    Ontario Hydro spokeswoman Christina Warren told Reuters the
blackout occurred when a transformer cable went down during
routine maintenance at a downtown hydroelectricity station.
Power was restored after 10 minutes.
    The power loss halted floor trading for 15 minutes on the
Toronto Stock Exchange, Canada's largest equity market,
although computerized trading - accounting for about 20 per
cent of the Exchange's normal volume - continued, Toronto Stock
Exchange official John Kolosky said.
    Bank operations were also affected. The headquarters or
major offices of Canada's six major banks line a small section
of Bay Street, the Wall Street of Canada.
    Bank of Montreal spokesman Brian Smith told Reuters the
blackout shut down electronic banking machines and caused a
minor slowdown in money trading operations, although "all in all
we were not seriously affected."
    Officials at various downtown skyscrapers said the blackout
also briefly shut down elevators and disrupted business in the
downtown core's extensive network of underground shopping
malls.
    Workers at some of the buildings said several people were
briefly trapped on elevators, but police and firefighters
reported no serious problems.
 Reuter
