TCR_Public/990205.MBX T R O U B L E D   C O M P A N Y   R E P O R T E R
     
    Friday, February 5, 1999, Vol. 3, No. 25

                   Headlines

ALPHA BETA TECH: To Close Local Plants, Liquidate
AMPACE CORP: Meeting of Creditors
BOSTON REGIONAL: Medical Center Files Bankruptcy
BRAZOS SPORTSWEAR: Seeks To Continue Credit Procedures
CITYSCAPE FINANCIAL: Statements of Operations

CRIIMI MAE: Court Extends Exclusivity
CRIIMI MAE: Management Committee Supports Cash Collateral
ELDER BEERMAN: Total Sales Increase 16.8% In January
HEARTLAND WIRELESS: Order Approves Disclosure Statement
JUMBOSPORTS: Extension To Assume/Reject Leases

LEVITZ FURNITURE: Colorado Properties Subject of Sale
MJDESIGNS INC: Files For Bankruptcy In Dallas
MONTGOMERY WARD: 4th Extension To Accept/Reject Leases
NORTH AMERICAN VACCINE: Marketing Authorization in Germany
OKURA & CO: Seeks Approval of Agreement With Marubeni

PARAGON TRADE: Companies Settle Diaper Dispute
PARAGON TRADE: Sixth Motion To Extend Exclusive Periods
PHP HEALTHCARE: Arthur Andersen Authorized For Committee
PITTSBURGH PENGUINS: Face Off Against Two Opponents
RIO GRANDE: First Amended Disclosure Statement Approved

SALANT CORP: Disclosure Statement Wins Nod
TRINITY GAS: Announces Reorganization, New Management
USMX OF ALASKA: Motion For Dismissal of Cases
VITALE ENTERPRISES: Addendum to Confirmation Order

DLS CAPITAL PARTNERS: Bond Pricing For Week of 2/1/99


                   *********

ALPHA BETA TECH: To Close Local Plants, Liquidate
-------------------------------------------------
The Providence Journal reports on January 30, 1999 that  
Alpha-Beta Technology has announced that it will liquidate
its assets and close its operations in Worcester, Mass.,
and Smithfield, shrinking from 92 to 7 employees.

The once-hot biotechnology company, which last week stopped
clinical trials on its main product, said its liabilities
exceed its assets and "there will not be any residual value
for stockholders."  Its biggest single liability, according
to Spiros Jamas, Alpha-Beta president and chief executive,
is a $30 million state loan from Rhode Island, used to
build its Smithfield manufacturing plant. The state will
take possession of the factory after the company defaults
on the loan Monday. The default leaves Rhode Island in
possession of a $40 million, 50,000-square-foot
biotechnology plant in Smithfield, and Rhode Island
taxpayers potentially liable for millions of dollars in
loan payments.

The Nasdaq Stock Market delisted the company as of
yesterday, saying it no longer meets minimum Nasdaq
requirements. This means the stock, which was selling for
72 cents a share when trading was suspended Jan. 22, will
not be traded on Nasdaq.  Whether the stock will trade on
the over-the-counter bulletin board is uncertain, Jamas
said.

The company plans to continue its antifungal research at
its MycoTox subsidiary in Denver, Colo. That is where the
company's seven remaining employees will focus their
attention.  Alpha-Beta's troubles are the result of the
failure of its lead product, Betafectin, in a clinical
trial. The company announced Jan. 22 that, based on an
interim analysis of data from the first 312 patients in the
trial, there was not enough evidence that the drug would
work to warrant continuing the study.  Betafectin was
supposed to prevent serious infections in upper-
gastrointestinal surgery patients.

The Rhode Island plant was built to manufacture Betafectin
for clinical trials and subsequent commercial production if
the drug proved successful. It was financed with $10
million from Alpha-Beta and a $30-million loan from
the  former Rhode Island Port Authority and Economic
Development Corporation. The corporation sold bonds to
finance the loan. The unpaid principal is $26.8  million.

Alpha-Beta missed a scheduled loan payment last Monday, but
will not be in default until the close of business next
Monday. To cover the bond costs, the Rhode Island Economic
Development Corporation will try to sell or lease the  
plant and its equipment, which are collateral for the loan.
Rhode Island taxpayers are responsible for any shortfall
between what is owed the  bondholders and the value of the
plant.

Alpha-Beta said it would pursue an out-of-court
liquidation. It has transferred its assets to an assignee,
Joseph F. Finn Jr. of Finn, Warnke & Gayton, who will
liquidate them and distribute any proceeds to creditors.
Jamas said the company is still working to assess its
liabilities.  Besides the Smithfield factory, Alpha-Beta's
assets are its MycoTox research program, and rights to
intellectual property, chiefly patents, patent applications
and license agreements.


AMPACE CORP: Meeting of Creditors
---------------------------------
In the case of Ampace Corporation, a meeting of creditors
is set for March 12, 1999 at 11:00 AM, 844 King Street,
Room 2313, Wilmington, Delaware 19801.

Attorney for the debtor is Mark Minuti, 222 Delaware Ave.,
Suite 1200, Wilmington, Delaware 19899 (302) 421-6840.  The
debtor's address is 201 Perimeter Park, Knoxville, TN
37922.  The debtor filed for bankruptcy on December 15,
1998.


BOSTON REGIONAL: Medical Center Files Bankruptcy
------------------------------------------------
The financially troubled Boston Regional Medical Center in
Stoneham files for Chapter 11 bankruptcy on February 4,
1999. The hospital says it will close down by
the  weekend, putting some 800 full- and part-time
employees out of work.


BRAZOS SPORTSWEAR: Seeks To Continue Credit Procedures
------------------------------------------------------
The debtors, Brazos Sportswear, Inc., et al., seek approval
to continue the use of prepetition customer charge-back,
mark-down and credit procedures.

The debtor states that these procedures are routine in the
debtors' business, and are essential to the maintenance of
the debtors' relationships with their customers.  Many
customers might simply decline to place future orders with
the debtors.


CITYSCAPE FINANCIAL: Statements of Operations
---------------------------------------------
For the month ended December 31, 1998, Cityscape Financial
Corp. reports total revenues of $522,518 and a net loss
applicable to common stock of $4,483,863.  Net cash
provided by operating activities for the month totaled
$3,744,020 and cash and cash equivalents at the end of the
period totaled $18,455,978.


CRIIMI MAE: Court Extends Exclusivity
-------------------------------------
The court overseeing the Chapter 11  reorganization of
CRIIMI MAE Inc. (NYSE: CMM) has granted the company's
motion  for a six-month extension of the periods within
which CRIIMI MAE Inc. and two  affiliates have the
exclusive right to file plans of reorganization
and solicit  acceptances of those plans.

* The court extended the period during which CRIIMI MAE and
its affiliates have the exclusive right to file a plan of
reorganization from February 2, 1999 through and including
August 2, 1999.

* The court also extended the period during which CRIIMI
MAE and its a affiliates have the exclusive right to
solicit acceptance of a plan of reorganization from April
3, 1999 through and including October 3, 1999. The order
acknowledges the right of CRIIMI MAE and its affiliates
to further extend such exclusive periods.  It also
acknowledges the right of other parties in interest to seek
to shorten the exclusive periods and oppose further
extensions of time.  Parties in interest also have the
right to seek reconsideration of the court's order.

Before filing for reorganization, CRIIMI MAE had been
actively involved in acquiring, originating, securitizing
and servicing multifamily and commercial mortgages and
mortgage related assets throughout the United States.  
Since filing for Chapter 11 protection, CRIIMI MAE has
suspended its CMBS acquisition, loan securitization, loan
underwriting and loan origination  businesses.  The
company, however, continues to hold a substantial
portfolio of  subordinated CMBS and its servicing
affiliate, which is not in bankruptcy, acts  as a servicer
for its own as well as third party portfolios.


CRIIMI MAE: Management Committee Supports Cash Collateral
---------------------------------------------------------
The Official Committee of Unsecured Creditors appointed in
the CRIIMI MAE Management, Inc.("CMI") case supports the
amended motion authorizing use of cash collateral pursuant
to the terms of a stipulation and agreed order between
CRIIMI MAE, Inc. and German American Capital Corporation.

The Management Committee has reviewed the Stipulation and
believes it represents a fair and reasonable compromise of
the disputes at issue.  The Management Committee was
assured at the meeting of creditors that counsel for CMI is
thoroughly investigating all claims that CRIIMI MAE
Management may have against German American Capital
Corporation and others.


ELDER BEERMAN: Total Sales Increase 16.8% In January
----------------------------------------------------      
The Elder-Beerman Stores Corp. (Nasdaq:EBSC) today
announced sales results for the four weeks, fourth quarter
and fiscal year ended January 30, 1999.

January total department store sales, including sales for
the eleven retained Stone & Thomas stores, increased 16.8
percent to $25.8 million. Comparable sales for Elder-
Beerman department stores increased 0.5 percent from the
same period last year. Total consolidated sales, including
both the Bee-Gee Shoe Division and the eleven retained
Stone & Thomas stores, increased 15.7 percent to $27.4
million. On a consolidated basis, including Bee-Gee,
January comparable sales increased 0.7 percent. Comparable
sales results include the Dayton Mall flagship store.

Elder-Beerman also reported that total sales for its Bee-
Gee Shoe Division for the month were $1.6 million, an
increase of 1.1 percent. Comparable sales for Bee-Gee in
January increased 4.6 percent over the same period last
year.

For fiscal 1998, Elder-Beerman reported total department
store sales, including eleven former Stone & Thomas stores,
increased 9.3 percent to $601.2 million, and comparable
sales for the department stores, including the Dayton Mall
flagship store, increased 4.1 percent over fiscal 1997.
Consolidated total sales for fiscal 1998 increased 8.8
percent to $632.4 million and increased 3.9 percent on a
comparable basis over fiscal 1997.

Frederick J. Mershad, Chairman and Chief Executive Officer,
said, "Our overall performance in January was solid, given
the severe winter weather in most of our markets early in
the month and the fact that we were up against a 14  
percent department store comparable sales increase in
January 1998. The weather forced more than 940 store hours
of closings, which was more than 5 percent of our January
store hours. Facing these closings and our strong January
1998 performance, we view our performance in January 1999
as positive."

The company noted that its ladies' better sportswear,
shoes, cosmetics and home store businesses all performed
well, while its ladies' moderate sportswear, juniors' and
men's businesses lagged. The cold weather early in the
month also spurred a resurgence in the company's cold
weather related businesses.

Commenting on fiscal 1998, Mershad stated, "We are pleased
with our overall sales performance in 1998. Although
November and December were somewhat disappointing due to
unseasonable weather and an extraordinarily promotional  
environment, our 4.1 percent department store comparable
sales increase represents a solid first year out of
bankruptcy. We also end the year with our inventories in
line with our expectations."

The nation's eighth largest independent department store
chain, The Elder-Beerman Stores Corp. now operates 60
stores in Ohio, Indiana, West Virginia, Michigan, Illinois,
Kentucky, Wisconsin and Pennsylvania. Headquartered in  
Dayton, Ohio, Elder-Beerman reported total revenues of
$607.9 million and net sales from store operations of
$581.4 million on an operating base of 48 stores
in 1997. The company's Bee-Gee Shoe Division operates 56
El-Bee and Shoebilee! shoe stores in seven states. Elder-
Beerman also operates two furniture superstores.


HEARTLAND WIRELESS: Order Approves Disclosure Statement
-------------------------------------------------------
On January 19, 1999, the court approved the Disclosure
Statement of Heartland Wireless Communications, Inc.

The hearing to consider confirmation of the plan will be
held before the Honorable Joseph J. Farnan, Jr., United
States District Judge, 844 King Street, 6th Floor,
Wilmington, Delaware 19801 on March 15, 1999 at 10:00 AM.


JUMBOSPORTS: Extension To Assume/Reject Leases
----------------------------------------------
JumboSports, Inc., debtor, together with its debtor
affiliates filed a motion for extension of time to assume
or reject unexpired leases of nonresidential real property.

As of the Petition Date, the debtor operated approximately
59 "big box" sporting goods superstores and 3 warehouse
distribution centers in 23 states across the country and
employed approximately 3,000 persons.

The debtors are seeking to reject 10 leases as proposed in
a certain going-out-of-business motion, and the debtor
seeks to extend the period under Section 365(d)(4) with
respect to these leases in order to implement the lease
rejection procedures.

The debtors believe that cause exists to grant the
extension of time they are seeking.  The debtors state that
since the beginning of the case they have sought court
authority to conduct going out of business sales at 18
stores, sought approval for a $135 million DIP financing
arrangement with the Secured Lenders and have diligently
worked to prepare their Schedules of Assets and
Liabilities, Statement of Financial Affairs, and Schedules
of Executory Contracts and Unexpired Leases.  The debtors
continue to conduct their analysis of the leases, but
require additional time to finalize their business plan and
the impact of the leases upon such plan.

The debtors request that the court enter an order extending
the time in which to assume or reject the leases through
confirmation of a plan of reorganization.


LEVITZ FURNITURE: Colorado Properties Subject of Sale
-----------------------------------------------------
Levitz Furniture Incorporated, et al., debtors, seek
authority for the sale of certain property located at 5655
North Academy Boulevard, Colorado Springs, Colorado and the
property located at 11111 West 6th Street, Lakewood,
Colorado to Stephen F. Elken and Thomas A. Gart, buyers.

The buyers have agreed to pay the debtors $6,935,000 in
exchange for the Colorado properties.  If the debtors sell
the property to a party other than the buyer, the buyers
will receive a termination fee, not to exceed 3% of the
purchase price.

The debtors are soliciting competing bids for the sale of
the Colorado Properties pursuant to the Option Agreement.
Bids must be received by February 10, 1999.

Competing bids must contain a minimum initial bid that
increases the purchase price by at least 4%, i.e.
$7,212,400, and comply with other conditions of the offer.  
If the debtors receive any qualified overbids, an auction
will be held on February 12, 1999.


MJDESIGNS INC: Files For Bankruptcy In Dallas
---------------------------------------------
MJDesigns Inc. filed for Chapter 11 Tuesday at 12:01 a.m.
in the U.S. Bankruptcy Court in Dallas. The petition
estimates assets and liabilities are both in the $50
million to $100 million range and that funds likely will be
available to unsecured creditors. As reported, the chain of
craft stores has closed 11 stores in the last few months
and put its corporate headquarters and warehouse, with an
estimated value of $20 million, up for sale. Houlihan Lokey
Howard & Zukin was retained last November and has been
soliciting investors in MJDesigns, which is privately held
by founder Michael Dupey and his family. Mike Nuzum,
president of the company, also owns a stake in the company.
(The Daily Bankruptcy Review and ABI Copyright c February
4, 1999)


MONTGOMERY WARD: 4th Extension To Accept/Reject Leases
------------------------------------------------------
The debtors, Montgomery Ward Holding Corp., et al., seek to
further extend the time period to assume, assume and assign
or reject their unexpired nonresidential real property
leases through August 31, 1999.

The debtors argue that they have actively pursued their new
business strategy and focused on their reorganization
efforts. Since the inception of the cases, the debtors have
closed a significant number of stores and have either,
assumed, assumed and assigned or rejected almost all fo the
leases relating to these stores. The debtors are continuing
to monitor the performance of the remaining Montgomery Ward
stores to determine whether any additional store closings
will be necessary.  The debtors are currently a party to
approximately 285 unexpired nonresidential real property
leases.

The debtors believe that an extension through August 31,
1999 is reasonable and justified.  Such an extension will
insure that the debtors maintain the optimum flexibility in
restructuring their operations and are not precluded from
pursuing otherwise available reorganization options because
of hastily made decisions.  The debtors also state that the
extension will insure that the debtors do no t
inadvertently reject a valuable lease or prematurely assume
an undesirable lease, needlessly incurring a substantial
administrative obligation.


NORTH AMERICAN VACCINE: Marketing Authorization in Germany
----------------------------------------------------------
On February 1, 1999, North American Vaccine announced that
it has received notification that the German regulatory
authorities have issued a national marketing authorization
for the company's combined diphtheria, tetanus,
acellular pertussis and inactivated injectable polio
("DTaP-IPV") vaccine. Under the German marketing
authorization, the DTaP-IPV vaccine will be utilized for
active immunization against diphtheria, tetanus, pertussis
(whooping cough) and polio in infants. The DTaP-IPV will be
marketed and distributed in Germany by Chiron Behring,
under the terms of an existing distribution agreement.


OKURA & CO: Seeks Approval of Agreement With Marubeni
-----------------------------------------------------
Okura & Co. (America), Inc., debtor seeks approval of a
certain agreement with Marubeni America Corporation and
Marubeni Aerospace Corporation.

Okura Japan is currently liquidating its assets and has
recently sold its aerospace division to Marubeni Aerospace
Corporation.  As a result, the debtor has approximately
$29,818,228 worth of purchase orders in the pipeline
between itself and third-party vendors which the debtor
cannot facilitate due to financial and other constraints.

Pursuant to the terms of the Agreement, Aerospace will
advance the funds necessary, including the debtor's
commission, to the debtor such that the debtor can pay
third-party vendors to ship pursuant to the Hot Shipment
Purchase Orders.  Additionally, Marubeni America shall pay
the debtor a flat fee for the cold shipment purchase orders
and other assets.  

If the court does not approve the agreement, the purchase
orders will become worthless.


PARAGON TRADE: Companies Settle Diaper Dispute
----------------------------------------------
Paragon Trade Brands Inc., maker of disposable diapers has
agreed to pay Procter & Gamble Co. $163.5 million to settle
P&G's complaint that the competitor infringed on a patented
design.  Paragon, of Norcross, Ga., agreed to pay the money
as part of the company's Chapter 11 bankruptcy
reorganization. Paragon was forced into reorganization a
year ago after a Delaware judge ordered the company to pay  
$178.4 million to P&G.

Paragon also agreed to pay license fees to use P&G's
patented diaper technology. Those fees amount to about 2
percent of sales revenues, P&G spokesman Scott Stewart said
Wednesday.

"We felt that Paragon's infringement really had hurt our
company, and the amount of the settlement reflects that,"
Stewart said.  The $163.5 million payment resulted from
negotiations between the companies.   P&G had said in its
lawsuit that Paragon infringed on patents for elastic  
gatherers inside diaper leg cuffs.

P&G, based in Cincinnati, makes and sells more than 300
brands of food, beverage, cosmetic, health and paper
products.


PARAGON TRADE: Sixth Motion To Extend Exclusive Periods
-------------------------------------------------------
Paragon Trade Brands, Inc., debtor, is seeking an order
further extending Paragon's Exclusive Periods to file a
plan of reorganization and solicit acceptances thereto.

In addition, Paragon continues to negotiate with Kimberly-
Clark Corporation with respect to resolving all fo the
claims asserted by KC in this bankruptcy case and Paragon
believes that considerable progress is being made by the
parties.

Paragon seeks an extension of the debtor's exclusive
periods, to May 1, 1999 and July 31, 1999, respectively.
Paragon expects to file a motion to approve the agreement
with Procter & Gamble shortly.

The debtor states that the extension of the respective
Exclusive Periods will allow the parties to finalize all
documents, file the appropriate motions to approve the
settlements and to propose and seek the confirmation of a
plan of reorganization that will incorporate the terms of
the settlements.  The extension of the Exclusive Periods
will, according to the debtor, further allow the parties to
continue to focus their efforts on the negotiation of the
plan and the confirmation process which will benefit all
parties concerned.


PHP HEALTHCARE: Arthur Andersen Authorized For Committee
--------------------------------------------------------
In the matter of PHP Healthcare Corporation, the court
entered an order authorizing the Official Committee of
Unsecured Creditors to employ and retain the firm of Arthur
Andersen LLP nunc pro tunc to December 8 1998 as
accountants and financial advisors for the Committee.


PITTSBURGH PENGUINS: Face Off Against Two Opponents
---------------------------------------------------                  
The Pittsburgh Post-Gazette reports on February 3, 1999
that the Pittsburgh Penguins will square off against two
opponents Tuesday in U.S. Bankruptcy Court when they ask
the judge to approve two of their motions.

The National Hockey League Players Association and the
creditors committee both objected to the team's request to
extend the time it has to file a reorganization plan.

The team has until next Wednesday as an exclusive period to
file its own reorganization plan. On Jan. 13, the team
requested that its time be extended until April. That
motion by the team has now been opposed by the players and  
creditors.

The creditors argued that the team has filed inaccurate and
erroneous information which means the committee could not
rely on those documents to help move the reorganization
process forward.  They also argued that the team has to be
reorganized quickly for the franchise to survive because in
the spring the team will start selling season  
tickets for the next season and will make the decisions
about next season's team roster.

The association and the committee also objected to the team
hiring a second law firm to represent it in bankruptcy
court. They wanted the team to choose one firm and stay
with it.

The team has been represented by Robert G. Sable of Sable
Pusateri Rosen Gordon and Adams but on Jan. 15 filed a
motion asking to be allowed to hire James R. Walsh of
Spence, Custer, Saylor, Wolfe and Rose of Johnstown as co-
counsel.


RIO GRANDE: First Amended Disclosure Statement Approved
-------------------------------------------------------
On January 21, 1999, the court entered an order finding
that the First Amended Disclosure Statement of Rio Grande,
Inc. and its affiliated debtors contains adequate
information.  A hearing on confirmation of the plan is set
for 3:30 on the 4th day of March, 1999, before the
Honorable Leif M. Clark, U.S. Bankruptcy Court, Western
District of Texas, San Antonio Division, 615 E. Houston
Street, Courtroom No. 1, Third Floor, San Antonio, Texas.


SALANT CORP: Disclosure Statement Wins Nod
------------------------------------------
The court approved Salant Corp.'s disclosure statement
yesterday after the company addressed the objection of the
U.S. Trustee by agreeing to pay unsecured creditors
interest on their claims rather than classifying the group
as impaired and thus allowing them to vote on the plan,
according to an attorney for Salant. "The judge agreed that
our class of general unsecured creditors, which is
unimpaired, should get interest and we agreed to do that,"
said Robert Gerber of Fried Frank Harris Shriver &
Jacobson. How much the additional interest will amount to
was not quantified in the court room and Gerber said he did
not feel comfortable giving an estimate. (The Daily
Bankruptcy Review and ABI Copyright c February 4, 1999)


TRINITY GAS: Announces Reorganization, New Management
------------------------------------------------------
Trinity Gas Corporation (Trinity) announces its
emergence from Chapter 11 bankruptcy under the direction of
new management.   The corporation, formerly headquartered
in Brownwood, TX, has relocated its base of operations to
Houston.

Thomas C. O'Dell, former vice president of Conoco and
president of Conoco Overseas Oil Co., has been named as the
new chairman of the board and chief executive officer of
the reorganized company. Michael L. Wallace, a 1998
appointee to the executive board of the Gas Industry
Standards Board, has been named president and chief
operating officer. John Glenn of Chicago has been named
vice president, treasurer and chief financial officer.  
Also appointed to serve on the board of directors
were: A.C. Teichgraeber of Houston, TX; Dennis E. Hedke of
Wichita, KS; and  Bruce E. Reichert, Ph.D., of Houston, TX.

Members of an advisory board of directors were also named
and include: Kenneth R. Peak of Dallas, TX; Charles L.
Canfield of Dallas, TX; Roger Curtis of Casper, WY; Mary
Jane Reynolds of Washington, D.C.; and A. Bernard Jones,
also of Washington, D.C.  According to Wallace, members of
the advisory panel will serve in advisory capacity only,
and will not have voting powers.

Wallace said the company's new executive management "will
bring a strong international focus to Trinity and build a
portfolio of highly attractive international oil and gas
opportunities with significant growth and earnings  
potential.  Domestically, the corporation has 45 wells in
inventory in Texas, Colorado, and Wyoming."  He said the
company is moving rapidly to add significant value to its
portfolio through imminent expansion into  
international markets with several highly attractive
opportunities that are nearing the end of successful
negotiation.


USMX OF ALASKA: Motion For Dismissal of Cases
---------------------------------------------
USMX of Alaska, Inc. and USMX, Inc., debtors, seek an order
dismissing the Chapter 11 petitions of the debtors.  
Substantially all of the debtors' assets are subject to
security interests and liens held principally by NM
Rothschild & Sons Ltd. and D.H. Blattner & Sons, Inc.  Both
creditors have obtained relief from the automatic stay to
enforce their liens and security interests in state court.  
Several other creditors have obtained relief from the stay,
including Dewey Mining Company with respect to USMX and
that certain Exploration Agreement, Gerald Metals, Inc.,
regarding various assets and North Pacific Mining
Corporation.

A receiver was appointed on November 2, 1998, and since
that date has been managing and operating the Illinois
Creek Mine. Foreclosure proceedings have been commenced by
Rothschild and Blattner concerning substantially all of the
debtor's assets.

The debtors have been unable to propose a plan, and do not
have a reasonable likelihood of rehabilitation.  The
debtors believe that dismissal of the cases is in the best
interest of creditors and the estates.


VITALE ENTERPRISES: Addendum to Confirmation Order
--------------------------------------------------
The debtors, Vitale Enterprises, Inc., et al., have
prepared an order for the court.  The order states that the
plan is confirmed, that Robert B. Wasserman, 225 Millburn
Avenue, Millburn, New Jersey, has been appointed Plan
Administrator and will serve as Disbursing Agent.  It is
anticipate d that unsecured creditors will receive
approximately 30% on their claims.  The date of the initial
distribution under the confirmed plan is estimated to be
April 4, 1999.


DLS CAPITAL PARTNERS: Bond Pricing For Week of 2/1/99
------------------------------------------------------
The following are indicated prices for selected issues:

Acme Metal 10 7/8 '07            13 - 15 (f)
Amer Pad & Paper 13 '05          61 - 63
Amresco 9 7/8 '05                77 - 79
Atel 0/14 1/2 '04                13 - 15
Asia Pulp & Paper 11 3/4 '05     66 - 67
Boston Chicken 7 3/4 '05          7 - 8 (f)
Brazos 10 1/2 '07                 8 - 9 (f)
Brunos 10 1/2 '05                14 - 16 (f)
Cityscape 12 3/4 '04             14 - 16 (f)
E & S Holdings 10 3/8 '06        44 - 48
Globalstar 11 1/4 '04            75 - 77
Geneva Steel 11 1/8 '01          17 - 19 (f)
Hechinger 9.45 '12               55 - 60
Hills 12 1/2 '02                 95 - 96
Loewen 7.20 '03                  66 - 67
Mobilemedia 9 3/8 '07            12 - 14 (f)
Penn Traffic 8 5/8 '03           47 - 49 (f)
Planet Hollywood 12 '05          32 - 35
Royal Oak 12 3/4 '06             40 - 45 (f)
Samsonite 10 3/4 '08             79 - 81
Service Merchandise 9 '04        24 - 26 (f)
Sunbeam 0 '18                    12 - 13
Trism 10 3/4 '00                 48 - 50
Trump Castle 11 3/4 '05          83 - 85
Zenith 6 1/4 '11                 24 - 26 (f)



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S U B S C R I P T I O N   I N F O R M A T I O N     
Troubled Company Reporter is a daily newsletter, co-
published by Bankruptcy Creditors' Service, Inc.,
Princeton, NJ, and Beard Group, Inc., Washington, DC.  
Debra Brennan and Lexy Mueller, Editors. Copyright 1999.  
All rights reserved.  ISSN 1520-9474.  

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