TCR_Public/990430.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, April 30, 1999, Vol. 3, No. 84

                         Headlines

ALTA GOLD: Case Summary & 20 Largest Creditors
AMERITAS: Prospectus Filed With SEC
BOSTON CHICKEN: Seeks Additional Time For Leases
CHUO PAPERBOARD: To Issue 6 B. Yen in Shares
COLUMBIA/HCA: Annual Meeting of Stockholders

DAUPHIN TECHNOLOGY: Files Annual Report With SEC
EDISON BROS: Gordon Brothers Group Prevails In Bid
ELDER BEERMAN: Notice of Annual Meeting
EQUALNET CORP: Court Approves Reorganization Plan
JAYHAWK: Notice of Annual Meeting

KELLEY OIL & GAS: Issuer Tender Offer Filed With SEC
KOMAG INC: Notice of Annual Meeting
LAURA ASHLEY: It's Curtains
LAURIAT'S: Paragon Capital To Provide Credit
MEDPARTNERS: Responds To Modern Healthcare Report

ONSALE INC: Notice of Annual Meeting
PANAMSAT: Notice of Annual Meeting
QUALITECH STEEL: Saved from Defaulting on Bond Loans
SALANT CORP: Annual Report Filed With SEC
SAMUELS JEWELERS: Files Quarterly Report

THE WISER OIL CO: Notice of Annual Meeting
THORN APPLE VALLEY: Quarterly Report
TRANSAMERICAN ENERGY: Reports Filing Bankruptcy to SEC
TRANSGLOBE: Completes Acquisition Of Moiibus
UNITED COMPANIES: Signs Agreement With Aegis Mortgage

U.S. HOMECARE: Asks For Approval of Reverse Stock Split
WET SEAL: Files Annual Report With SEC
WICKES INC: Notice of Annual Meeting

BOND PRICING FOR WEEK of April 26, 1999

                   *********

ALTA GOLD: Case Summary & 20 Largest Creditors
----------------------------------------------
Debtor: Alta Gold Co.
        Suite 10
        601 Whitney Ranch Drive
        Henderson, NV 89014

Court: District of Nevada

Case No.: 99 31080    Filed: 04/14/99    Chapter: 11

Debtor's Counsel:  
Nile Leatham, Esq.
Kolesar & Leatham, Chtd
Suite 380 3320 West Sahara Avenue
Las Vegas NV 89102                  
                  
20 Largest Unsecured Creditors:

   Name                              Nature         Amount
   ----                              ------         ------
RGC Int'l. Investors      Convert. Debenture   $1,000,0000
Olympus Securities        Convert. Debenture      $975,000
Nelson Partners           Convert. Debenture      $975,000
Cashman Equipment                Trade Debt       $410,929
Tail Wind Fund, The       Convert. Debenture      $400,000
Buckley Powder Co.               Trade Debt       $244,809
Energetic Solutions         Trade Debt       $238,111
Komatsu Equipment Co.      Trade Debt       $204,777
Geotemps        Trade Debt       $173,211
General Steel & Supply     Trade Debt       $171,299
Berry-Hinckley       Trade Debt   $145,893
American Assay Laboratories    Trade Debt       $128,240
Steffen Robertson & Kirsten      Trade Debt       $121,407
Cobre Tire                       Trade Debt       $107,442
Ferrel Construction, Inc.        Trade Debt       $92,935
nevada Cement Co.                Trade Debt       $82,697
Chris's Service Inc.             Trade Debt       $81,129
Wheeler Machinery Co.            Trade Debt       $79,427
Cummins Intermountain Inc.       Trade Debt       $78,301
West States Construction         Trade Debt       $69,134


AMERITAS: Prospectus Filed With SEC
-----------------------------------
Ameritas Life Insurance Corp. filed a prospectus with the
SEC describing a flexible premium variable universal life
insurance policy offered by Ameritas Life Insurance Corp.

A full text copy of the filing is available via the
Internet at:

     http://www.sec.gov/Archives/edgar/data/0000950137-99-
001029.txt


BOSTON CHICKEN: Seeks Additional Time For Leases
------------------------------------------------
The Debtors tell the Court that their business "has not
been sufficiently reinvigorated" to make final definitive
decisions as to which of the Open Store leases are
necessary for the Debtors rehabilitation.  The Debtors
also state that "it is premature . . . to formulate a
reorganization plan and to make binding decisions as to
which leaseholds should be assumed."  The Debtors also note
that, to date, not a single landlord has filed a
request to require the Debtors to assume or reject a non-
residential real property lease.

The Debtors ask Judge Case for an extension,
through September 3, 1999, of the time period pursuant to
11 U.S.C. Sec. 365(d)(4) within which they must decide
whether to assume, assume and assign or reject non-
residential real property leases.

Since the Petition Date, the Debtors have received
authority to reject 196 leases, received approval to or
have requested authority to assume and assign 22 leases and
have assumed or have requested authority to assume 64
leases.  There remain, however, 534 unexpired leases of
nonresidential real property between the Debtors and
various lessors.  One such lease represents the Debtors
interest in the corporate headquarters located in
Golden, Colorado.  With the exception of two other leases,
the remaining leases are operating Boston Market store
locations.

The Debtors request an extension of time only with respect
to the Open Store Leases, the Support Center Lease, and the
Leases Pending Assignment.  As to any other non-residential
real property lease, the Debtors intend to make a decision
to assume or reject by the June 4 deadline. (Boston Chicken
Bankruptcy News Issue 10; Bankruptcy Creditors' Service,
Inc.)


CHUO PAPERBOARD: To Issue 6 B. Yen in Shares
--------------------------------------------                  
The Jiji Press English News reports on April 28, 1999 that
Chuo Paperboard Co. will ask Oji Paper Co., Itochu Corp.
and Rengo Co. to buy new shares worth 6 billion yen it will
issue in the form of a third-party allotment, the major
paperboard maker announced Wednesday.

Chuo Paperboard, based in Gifu, will also ask leading paper
maker Oji Paper,Rengo, a corrugated board maker in Osaka,
and Itochu to set up a company to buy a plant site of Chuo
Paperboard to help in its restructuring, they
said.

The company will ask 29 creditor financial institutions to
forgive and  restructure a total of 11.4 billion yen in
loans, while liquidating five debt-laden affiliates and
reducing its capital, the officials said.

Itochu, a major trading house, and Juroku Bank, Chuo
Paperboard's major creditor bank in Gifu, have informally
accepted the restructuring plan, Chuo Paperboard officials
said.

The company's recurring loss will expand to 2,242 million
yen from its earlier estimated 1.9 billion yen for the year
to last March, they said.


COLUMBIA/HCA: Annual Meeting of Stockholders
--------------------------------------------
The 1999 annual meeting of stockholders of Columbia/HCA
Healthcare Corporation will be held at the executive
offices of Columbia/HCA located at One Park Plaza,
Nashville, Tennessee, on Thursday, May 27, 1999 beginning
at 1:30 p.m., Central Daylight Time. The meeting will be
held for the following purposes:

(1) To elect four directors to serve until the annual
meeting of stockholders in 2000 and to elect one director
to serve until the annual meeting of stockholders in 2001,
or until their respective successors shall have been duly
elected and qualified;

(2) To ratify the appointment of Ernst & Young LLP as our
independent auditors;

(3) To act on one stockholder proposal; for Columbia/HCA
to adopt a policy of phasing out, at all of its health care
facilities, the use of PVC-containing or phthalate-
containing medical products, where alternatives are
available.


DAUPHIN TECHNOLOGY: Files Annual Report With SEC
------------------------------------------------
DAUPHIN TECHNOLOGY, INC. filed an annual report with the
SEC for the fiscal year ending December 31, 1998. The
Company and its subsidiary are primarily engaged in
electronic product engineering, development and sales, and
contract manufacturing services.  All of these activities
are highly competitive and sensitive to many factors
outside of the control of the Company, including general
economic conditions affecting the Company's clients and
availability of components. Revenue for Dauphin Technology,
Inc. increased from $72,000 in 1997 and $94,000 in 1996 to
$386,000 in 1998, increasing sales more than 5 times from
1997 levels. The revenue increased with shipment of Orasis
beginning in the third and the fourth quarter of 1998.
The gross profit margins are not comparable for the periods
due to the inventory write downs and fluctuation in sales.
Revenue for RMS increased from $2.7 million in 1997 to $5.6
million in 1998, including intercompany transactions,
doubling from 1997 levels. The net operating loss,
increased to approximately $530,000 in 1998 from
$39,000 in 1997. The increase in net loss was due to an
increase in sales, general and administrative expenses and
additional inventory write-down.

Arthur Andersen LLP writes, "As discussed in
a note (Note 2) to the financial statements, the Company
has suffered recurring losses from operations and has
insufficient cash on hand to sustain future
operations that raises substantial doubt about the entity's
ability to continue as a going concern.


EDISON BROS: Gordon Brothers Group Prevails In Bid
--------------------------------------------------
Boston-based Gordon Brothers Group, LLC has emerged the
winner in the hotly contested bidding war for the assets of
664 of Edison Brothers Stores.  As a result of the accepted
bid, Gordon Brothers will manage the closing and
merchandise liquidation of 295 Riggings, 234 JW/Jeans  
West men's wear and 135 Wild Pair footwear stores.

In a bidding process conducted Monday in the offices of
Edison's New York Law firm, Gordon Brothers Group out-bid
by $4.2 million a previously accepted offer from a joint
venture of four competitive Asset Redeployment firms. Under
the terms of the agreement, Gordon Brothers will acquire
approximately $167.0 million of soft-lines merchandise from
the St. Louis-based retailer.

"The real winners here are the creditors," said Robert C.
Sager, president of Gordon Brothers.  "Our ability to see
greater value in retail assets ultimately  benefits our
clients and their estates."

On April 29, the Bankruptcy Court in Wilmington, Delaware,
will be asked to  approve the deal and the closing sales
will start on Friday, April 30.  According to Gordon
Brothers principal Gary Kulp, the liquidation sales
will  run until all inventory has been sold-through. "We've
taken an aggressive view on potential recoveries because
our knowledge of Edison Brothers'customer,"  Kulp said.  
"We believe they'll continue to show the same smarts
and loyalty  that they have in the past."

"We've had a very productive relationship with Edison
Brothers for over two years now," Kulp continued, "and have
helped them, both inside and outside of bankruptcy,
transitioning over 400 locations as part of their on-going  
strategic restructuring.  We're very happy to continue that
relationship."

Edison Brothers filed for Chapter 11 bankruptcy protection
for the second time on March 9 and subsequently sought
approval to close its three chains, which  will leave it
with approximately 816 stores.  The company operates Bakers
and  Wild Pair footwear stores; 5-7-9 junior apparel
stores; Riggins, JW, Coda and  Repp Ltd. Big & Tall
Menswear stores; and Repp By Mail men's Catalog.  Edison  
Brothers currently has stores in the United States,
Canada, Puerto Rico and the Virgin Islands.


ELDER BEERMAN: Notice of Annual Meeting
---------------------------------------
The Annual Meeting of Shareholders of The Elder-Beerman
Stores Corp. will be held on May 28, 1999 at 8:00 a.m.,
eastern daylight time, at Elder-Beerman Dayton Mall, 2700
State Route 725, Dayton, Ohio 45459. The principal business
of the meeting will be:

(1) To elect three Directors for a three-year term expiring
in 2002.

(2) To act upon a proposal of the Board of Directors to
adopt an amendment to Elder-Beerman's Amended Code of
Regulations so that the annual meeting of
shareholders is not required to be held during the month of
May.


EQUALNET CORP: Court Approves Reorganization Plan
-------------------------------------------------         
Equalnet Communications Corp. (NASDAQ:ENET) Wednesday
announced that at a hearing yesterday, April 27, 1999,
in Federal Bankruptcy Court in Houston, Judge Karen Brown
confirmed the  company's previously proposed Plan of
Reorganization for its subsidiary, Equalnet Corp.

This Plan of Reorganization, which the company expects to
consummate within ten days, will result in the exchange of
approximately 3 million newly issued shares of Equalnet
Communications Corp.'s common stock and $1.35 million in  
cash to a newly created trust for the benefit of the
unsecured creditors of Equalnet Corp. for the elimination
of approximately $15 million of unsecured debt of Equalnet
Corp. The company has commitments from two investor groups
to provide the $3.6 million required for the consummation
of the Plan of Reorganization.

Creditors voted unanimously to accept this Plan.
"The satisfactory acceptance of the Plan of Reorganization
of our subsidiary was the result of our sincere desire to
reach a fair negotiated resolution to the bankruptcy," said
Mitchell Bodian, president and chief executive officer of  
Equalnet Communications Corp.

"With our subsidiary's bankruptcy proceedings concluded and
the pending acquisitions of Network Communications Systems
("NCS") and The Intelesis Group, we are strategically
positioning the company for growth in exciting and  
innovative new business and product areas, specifically, e-
commerce, Web services and advertiser sponsored long
distance."


JAYHAWK: Notice of Annual Meeting
---------------------------------
The Annual Meeting of Shareholders of Jayhawk
Acceptance Corporation will be held at the Le Meridien
Hotel,650 N. Pearl Street, Dallas, Texas 75201, on May 13,
1999, at 5:00 p.m., Dallas, Texas time, for the following
purpose:

to elect seven directors to serve on the Company's Board of
Directors.

Only shareholders of record of the Company's common stock,
$.01 par value per share, at the close of business on March
17, 1999, will be entitled to notice of and to vote at the
Annual Meeting or any adjournment thereof.


KELLEY OIL & GAS: Issuer Tender Offer Filed With SEC
----------------------------------------------------
This Issuer Tender Offer relates to the offer by Kelley Oil
& Gas Corporation, a Delaware corporation, to purchase up
to $26.9 million principal amount of the Company's 8 1/2%
Convertible Subordinated Debentures due April 1, 2000 and
$34.1 million principal amount of the Company's 7 7/8%
Convertible Subordinated Notes due December 15, 1999, at an
aggregate purchase price of approximately $36.0 million,
plus accrued and unpaid interest thereon to the date of
repurchase, upon the terms and subject to the conditions
set forth in a certain Offer to Purchase dated April 19,
1999 and in the related Letters of Transmittal.


KOMAG INC: Notice of Annual Meeting
-----------------------------------
The annual  meeting of  stockholders of Komag, Incorporated
will be held at Komag, Incorporated,  Building 9,
1705 Automation Parkway, San Jose, California,  95131 on
Tuesday, May 25, 1999, at 10:00 a.m. for the following
purposes:

1.  To elect the Board of Directors for the following year.

2.  To approve an amendment to the Company's  1988 Employee  
Stock Purchase  Plan to increase  the number of shares  
reserved for issuance thereunder by 2,550,000 shares.

3.  To consider and vote upon a proposal to approve the
sale and issuance  by the  Company  from  time  to  time  
of up to $250 million of Common Stock or securities  
convertible into Common Stock in  private  transactions  
through  October 1, 2000 at a price below book value but at
or above the then current market price of the Common Stock.

4. To amend the Company's  Restated  1987 Stock  Option  
Plan to increase  the  number  of  stock  options  to  be  
granted to re-elected  non-employee  Board  members  under
the  Automatic Option Grant Program from 7,500 to 12,000
shares annually.

5. To ratify the appointment of Ernst & Young LLP as
independent auditors of the Company for the fiscal year
ending January 2, 2000.


LAURA ASHLEY: It's Curtains
---------------------------
The Birmingham Post England reports on April 29, 1999 that
Laura Ashley bowed to pressure from its bankers yesterday
and sold its loss-making US operation for the symbolic  
price of one dollar. The company also announced plans for a
pounds 24.6 million share issue to stave off financial
ruin. The group said the fresh funding would secure an
extension of loan facilities until April 2000 and admitted
that without this "it would not be able to meet its
commitments and . . . would not avoid insolvent
liquidation."

Although the sale to management rids Laura Ashley of pounds
21.5 million of debt, there was more bad news in the shape
of a poor trading update and confirmation from accountancy
firm Price Waterhouse Coopers that it had asked  
not to be reappointed asauditor for next year.

The decision is a highly unusual move, sometimes seen as an
indication that all is not well with a company's financial
controls. But a spokesman for PWC described the decision as
"purely commercial" and rejected suggestions that it had
discovered anything untoward in the group's finances.

In the year to 31 January 1998, Price Waterhouse Coopers
earned total fees of pounds 600,000 from Laura Ashley,
including pounds 200,000 of consultancy revenue.

Laura Ashley said, however, that current trading was not
going well. The group said sales figures had continued to
slide so far this year - on a like- for-like basis they
were down nine per cent in the first 11 weeks of the  
current financial year.

The retailer's North American business consists of 106
shops - it closed another 26 last year - and the company
said the management buyers were the only bidder to come
forward.

The deal is being partly backed by Malayan United
Industries, the Malaysian company which last year pumped
pounds 44 million into the group in return for a
40 per cent stake.

MUI is also underwriting the share issue, along with a
company associated with its chairman Dr Kay Peng Khoo.

There has been speculation recently MUI might want to take
the group private but MUI denied it had any such plans.
Provided the rights issue goes through, the British
institution will then be 60 per cent Malaysian-owned.

Commercial services director Mr Stephen Cox said the
British look of Laura Ashley was not at risk. There was
still a long way to go but the US disposal should help
restore the company back to profitability.  "The very fact
that in the year we are reporting on and in the prior year,  
the North American division accounted for the majority of
the group's losses will give an indication of what group
will look like without it," Mr Cox said. Pre-tax losses for
the year to January 30, also announced yesterday, came in
at pounds 31.9 million compared with pounds 49.3 million
the previous year.  Laura Ashley shares closed down 1p to
15p.


LAURIAT'S: Paragon Capital To Provide Credit
--------------------------------------------
Just as it looks like neighborhood bookstores are being
pushed out of existence by superstores and Internet-based
booksellers, Paragon Capital has joined Lauriat's Inc. in
an effort to give the company a second chance at success.

Paragon, of Needham, Mass., announced today that, together
with Foothill Capital Corporation, it will provide a $ 25
million line of credit to Lauriat's, based in Canton, Mass.
The financing will help the 126-year-old New England
bookstore chain rededicate itself to serving the smaller,
more personal neighborhood niche and set its sights on
emerging from Chapter 11 bankruptcy, which it
entered in February 1998.

Having decreased its stores to 72 from 115, Lauriat's is
now preparing for renewed growth. The company believes it
will find a home as an alternative to Barnes & Noble and
Borders, according to CEO Matthew C. Harrison Jr. Stores
will cater to well-read customers who value good service
and a knowledgeable staff.

Harrison, a turnaround specialist who has helped save four
other companies, was brought in after the bankruptcy
filing. Under Harrison, Lauriat's has developed a vision
for its future and devised a plan to have 125 stores five
years from now. Early this year, the company determined
that it was time to find an appropriate financial partner
and move its plan forward.

"We talked with a number of possible sources of financing
and selected Paragon because they are a retail lender that
understands retail operations," Harrison said. "This
financing will allow us to inventory our stores to be able
to provide better selection for our customers during an
important time for us."

Founded in 1872 by Charles E. Lauriat, Lauriat's grew to
become New England's dominant independent bookseller and
was the 5th-largest bookstore in the country by the mid-
1990s.  Lauriat's now operates full and discount bookstores
throughout the Northeast under the names Encore Books,
Royal Discount Bookstores, Lauriat's and Book Corner. It
has 22 stores in Massachusetts.

"We are pleased to be part of this exciting turnaround,"
said Stewart Cohen, Chief Executive Officer of Paragon.
"Management now has the additional resources to continue
their exciting journey to success."

Lauriat's is a wholly owned subsidiary of CMI Holdings,
Inc. CMI is majority owned by Hampshire Equity Partners,
LLP.
  

MEDPARTNERS: Responds To Modern Healthcare Report
-------------------------------------------------               
MedPartners, Inc (NYSE: MDM) responded to a report
contained in the April 28 issue of Modern Healthcare's  
Daily Fax which stated that negotiations regarding the
disposition of MedPartners' California operations have
collapsed.

MedPartners is not aware of any development that would lead
to a collapse in negotiations and continues to remain
confident that it is close to closing a deal agreeable to
hospitals and other creditors of MedPartners Network
Inc., a subsidiary of MedPartners which is subject to
bankruptcy court review. The Company added that a hearing
remains on schedule for tomorrow in U.S. bankruptcy court,
and a satisfactory result from that hearing is expected.

The Company also said that, contrary to an assertion in the
article, it was never given an opportunity to comment on
the Modern Healthcare story.


ONSALE INC: Notice of Annual Meeting
------------------------------------
The 1999 annual meeting of stockholders of Onsale, Inc.
will be held at the company's headquarters located at
1350 Willow Road, Suite 100, Menlo Park, California, on
Monday, May 17,1999, at 10:00 a.m. Pacific Time.  The
matters expected to be acted upon at the meeting include
the following: (1) the election of our board of
directors; (2) a proposal to amend our 1995 Equity
Incentive Plan to increase the number of shares of common
stock reserved under the plan on May 17, 1999 by 2% of the
total outstanding shares as of that date, and to provide
for an automatic increase in the shares reserved under the
plan, on January 1, 2000 and each anniversary thereafter,
of 4% of the total shares outstanding as of the immediately
preceding December 31; and (3) ratification of
PricewaterhouseCoopers LLP as the company's independent
accountants for the year ending December 31, 1999.  


PANAMSAT: Notice of Annual Meeting
----------------------------------
The Annual Meeting of Stockholders of PanAmSat Corporation,
will be held at 9:30 a.m., local time, on Wednesday, May 5,
1999, at The St. Regis Hotel, located at 2 East 55th
Street, New York, New York for the following purposes:

1. Election of Directors. To elect a total of 11 persons to
the Board of Directors to serve as Directors until the next
annual meeting of stockholders and until their successors
are elected and have qualified.

2.  Ratification of Selection of Independent Public
Accountants. To ratify the Board of Directors' selection of
Deloitte & Touche LLP as the Company's independent
accountants for the fiscal year ending December 31, 1999.


QUALITECH STEEL: Saved from Defaulting on Bond Loans
----------------------------------------------------
Indiana Development Finance Authority said the state of
Indiana's moral obligation pledge led the authority to use
its own funds to pay $160,000 in interest on variable-rate
revenue bonds it sold to Qualitech Steel Corp., which filed
for bankruptcy on March 22, according to Reuters.
The authority said that while the bonds were secured by the
National City Bank Indiana, the state's moral obligation
pledge backed the credit facility itself. As a result, the
bank agreed not to default the bonds, and the authority
said it would reimburse the bank for money it used to make
bond payments. Qualitech filed with $33.1 million in
taxable debt.


SALANT CORP: Annual Report Filed With SEC
-----------------------------------------
In its annual report for the fiscal year ended January 2,
1999, Salant Corp. reports for fiscal 1998 net sales of
$300.6 million, that is $47.1 million or 13.5% less than
the  $347.7  million  of net sales in Fiscal  1997.  Sales
of men's  apparel  at wholesale  decreased  by $39.1  
million or 12.0% in Fiscal 1998. In Fiscal 1998 gross  
profit of $62.4  million was $14.9  million  less than the
$77.3 million of gross profit in Fiscal 1997. In Fiscal
1998, the Company  reported a loss from continuing  
operations  before extraordinary gain of $56.8 million or
$3.74 per share,  compared to a loss from continuing
operations of $8.4 million, or $0.55 per share in Fiscal
1997. The net loss for Fiscal 1998 was $72.7  million,  or
$4.79 per share, compared with a net loss of $18.1 million,  
or $1.19 per share for Fiscal 1997.


SAMUELS JEWELERS: Files Quarterly Report
----------------------------------------
Samuels Jewelers Inc. reports net sales for the three
months ended February 27, 1999, were $44.4 million, a
decrease of 0.7% or $0.3 million, as compared to the
predecessor company's net sales of $44.7 million for the
three months ended February 28, 1998. The decrease in total
store sales was primarily a result of the reduction of the
number of operating stores by a net of 14 since February
1998. Comparable store sales (the 109 stores open for the
same period in both the current and preceding year) were
$43.4 million during the three months this year as
compared to $40.3 million last year. This is an increase of
$3.1 million or 7.7% in average comparable store volumes.
The company reports net income of $3.8 million for the
three months ended February 27, 1999 compared to a loss (of
the predecessor company) of $837,000 for the same quarter
last year.

Net sales for the nine months ended February 27, 1999,
combining both the predecessor and successor companies,
were $85.5 million, a decrease of 5.5% or $5.0 million, as
compared to the predecessor company's net sales of $90.5
million for the nine months ended February 28, 1998.

Comparable store sales (the 109 stores open for the same
period in both the current and preceding year) were
$83.0 million during the nine months this year as compared
to $81.5 million for the same nine months last year.


THE WISER OIL CO: Notice of Annual Meeting
------------------------------------------
The  Annual Meeting of Stockholders of The Wiser Oil
Company will be held at the Park City Club, 5956 Sherry
Lane, 17th Floor, Dallas, Texas, on May 17, 1999, at 4:00
p.m., Central Daylight Savings Time, for the purpose of
considering and acting upon the following:

Election of Directors:  The election of three Directors
each to serve for a three-year term expiring in 2002;


THORN APPLE VALLEY: Quarterly Report
------------------------------------
Thorn Apple Valley Inc. filed its quarterly report with the
SEC for the forty weeks ending March 5, 1999.

Thorn Apple Valley Inc. reports a loss from continuing
operations for the third quarter ended March 5, 1999 was
approximately $19.2 million compared with a loss from
continuing operations of approximately $3.5 million for the
comparable prior year period. The increase in the loss is
primarily attributable to the write-off of expenses related
to: 1) the product recall charge of $5.1 million, 2) the
amortization of bank financing costs of $2.1 M  3) the
recording of a valuation allowance against the deferred tax
asset, the charge related to the Company's Russian
operations of approximately $1.3 M. In addition, sales
volume was down due to reduced production capacity  and a
significant reduction of the company's export hot
dog business.

Net sales in the third quarter of fiscal 1999 decreased
$10.9 million or 10.3% as compared to the third quarter of
fiscal 1998.

The Company's loss from continuing operations for the forty
weeks ended March 5, 1999 was approximately $31.6 million
compared with a loss from continuing operations of
approximately $4.4 million for the comparable prior
year period. Net sales for the first three quarters of
fiscal 1999 decreased $54.5 million or 13.3% as compared to
the first three quarters of fiscal 1998.


TRANSAMERICAN ENERGY: Reports Filing Bankruptcy to SEC
------------------------------------------------------
TransAmerican Energy Corporation reports to the SEC that on
April 20, 1999, TransAmerican Energy Corporation, and its
subsidiary, TransAmerican Refining Corporation, filed
voluntary petitions for relief under Chapter 11 of the
United States Bankruptcy Code in the U.S. Bankruptcy Court
for the District of Delaware. On April 19, 1999, TransTexas
Gas Corporation, a subsidiary of the Registrant, also filed
a voluntary petition under Chapter 11. Registrant, TARC and
TransTexas will continue to operate their businesses and
manage their properties as debtors-in-possession. All three
bankruptcy cases will be administered jointly.


TRANSGLOBE: Completes Acquisition Of Moiibus
--------------------------------------------
TransGlobe (TSE:TGL.) (ASE:TGL.) (OTC BB:TGLEF) Moiibus
(ASE:MBV.) TransGlobe Energy Corp. and  Moiibus Resource
Corp. are pleased to announce that the Alberta Court of
Queen's Bench has approved the Plan of Arrangement  and
that a Certificate of Arrangement has been issued
today by the Registrar of  Corporations for the Province of
Alberta. Moiibus is now a wholly-owned subsidiary of
TransGlobe.

The Plan of Arrangement is effective April 28, 1999,
whereby the holders of Moiibus' common shares will acquire
0.615 common shares of TransGlobe for each one common share
of Moiibus, for a total of 5.4 million common shares of  
TransGlobe, which will increase its issued and outstanding
shares from 23.3 million to 28.8 million.

This transaction adds Moiibus' western Canadian oil and gas
properties to TransGlobe's producing United States
properties and exploratory Yemen properties, and provides
cash flow stability to TransGlobe pending a decision  
to put Block 32, Yemen into development and then
production. The Company is currently participating in a
high potential appraisal well on Block 32. The  
well is expected to be completed by June 1999 and may lead
to development of the Tasour field and first oil production
by early 2000. The Moiibus properties currently produce 170
bopd and 900 mcfd. The Company anticipates expanding  
Canadian production during 1999 by developing Moiibus'
natural gas prospects located in central Alberta. Two gas
exploration wells are planned for the third quarter of
1999.

Lloyd Herrick, the President of Moiibus, has become a Vice-
President and the Chief Operating Officer of TransGlobe;
Mary Chandler, Chief Financial Officer of Moiibus, has
become Vice President, Finance and Chief Financial Officer
of TransGlobe; and Moiibus directors Tom Kusumoto and Lloyd
Herrick have become directors of TransGlobe.


UNITED COMPANIES: Signs Agreement With Aegis Mortgage
-----------------------------------------------------
United Companies Financial Corporation (OTC:UCFNE)
announced that it signed an agreement on Tuesday, April 27,
1999 for the sale of its retail lending platform, UC
Lending(R), to Aegis Mortgage Corporation, a mortgage  
company based in Houston, Texas. The Company previously
announced on April 16, 1999, that it was close to an
agreement with Aegis for this sale. Under the terms of the
agreement, Aegis will pay $3 million plus the May operating  
expenses relating to 126 branch offices and related retail
lending assets. Aegis will also assume the post-closing
obligations under the leases to the 126 branch offices and
under the equipment leases, auto leases and other contracts
and agreements associated with operating these branch
offices and the Baton Rouge head office facilities of the
retail lending platform. In addition, Aegis has agreed to
purchase all of the loans closed by UC Lending(R) during
the month of May. The proposed closing date for the
transaction is June 1, 1999. The sale and leases and
contracts assignment is subject to approval by the  
Bankruptcy Court and higher or better offers made pursuant
to bidding procedures approved April 27, 1999, by the
Bankruptcy Court, as well as to satisfaction of certain
other conditions.

Under the bidding procedures, interested parties will have
an opportunity to submit bids on the Company's retail
lending platform no later than May 10, 1999  at 10:00 a.m.
Central Daylight Time. Bids must conform to the
requirements of the bidding procedures. The Bankruptcy
Court has scheduled a hearing on May 11,  1999, to consider
the sale of Aegis or to a higher bidder.

In addition, the Company has been advised that its common
stock is now being quoted in the "over the counter" market
under the stock symbol "UCFNE" and the Company's preferred
stock is now being quoted in that market under the symbol  
"UCFPE".

United Companies is a specialty finance company in
reorganization that provides consumer loan products
nationwide through its lending subsidiary, UC  Lending(R).

Troubled U.S. HomeCare Corp. in Hartford Tuesday disclosed
plans to convert from public to private ownership and a
letter of intent to be sold to an  unnamed home health care
company for $1 and assumption of debt.


U.S. HOMECARE: Asks For Approval of Reverse Stock Split
-------------------------------------------------------
U.S. HomeCare, which trades on the OTC Bulletin Board, is
asking its 490 shareholders to approve a reverse stock
split to save more than $250,000 a year by going private.
The move would leave 241 shareholders who each own fewer
than  1,500  shares without an equity interest in the
company. They'd get 1.4 cents a share.

The company's public accountants have said that if it can't
cut costs enough and find an investor, it may have to seek
bankruptcy court protection.


WET SEAL: Files Annual Report With SEC
--------------------------------------
The Wet Seal, Inc., a Delaware corporation, founded in
1962, is a nationwide specialty retailer of fashionable and
contemporary apparel and accessory items designed for
consumers with a young, active lifestyle. As of April 3,
1999, the Company operated 522 retail stores in
42 states, Washington D.C. and Puerto Rico, including 120
in California, 57 in Florida, and 41 in Texas. Of the 522
stores, 248 operate under the "CONTEMPO CASUALS" trademark,
190 operate under the "WET SEAL" trademark, 66 operate
under the "ARDEN B." trademark, 17 operate under the "LIMBO
LOUNGE" trademark and one of the stores operates under the
"NEXT" trademark.The Wet Seal Inc. filed its annual report
with the SEC for the fiscal year ending January 30, 1999.
Sales in fiscal 1998 were $485,389,000 compared to sales in
fiscal 1997 of $412,463,000, an increase of $72,926,000 or
17.7%. The dollar increase in sales in fiscal 1998 compared
to fiscal 1997 was primarily due to the impact of the 86
new store openings in fiscal 1998 and the full year impact
in 1998 of the net 25 new store openings in fiscal 1997.
These increases were somewhat offset by the closing of 21
stores in fiscal 1998. To a lesser extent, the increase in
sales was due to an increase in comparable store sales of
2.1%.

Net income was $25,954,000 in fiscal 1998 compared to
$21,250,000 in fiscal 1997, an increase of $4,704,000 or
22.1%. As a percentage of sales, net income was 5.3% in
fiscal 1998 compared to 5.2% in fiscal 1997.


WICKES INC: Notice of Annual Meeting
------------------------------------
The Annual Meeting of Shareholders of Wickes Inc. will be
held on Tuesday, May 18, 1999, at 10:00 a.m., Central
Daylight Time, at the executive offices of the Company, 706
North Deerpath Drive, Vernon Hills, Illinois.

The meeting will be held for the following purposes:

(1) To elect three members of the Board of Directors for
three-year terms and until their successors have been
elected and qualified.
(2) To approve the appointment of PricewaterhouseCoopers
LLP as independent auditors for the Company.


BOND PRICING FOR WEEK of April 26
==================================
DLS Capital Partners, Inc.

Following are indicated prices for selected issues:

Acme Metal 10 7/8 '07                8 - 10 (f)
Amer Pad & Paper 13 '05             60 - 62
Amresco 9 7/8 '04                   82 - 84
Asia Pulp & Paper 11 3/4 '05        80 - 81
Boston Chicken 7 3/4 '05             4 -  5 (f)
Brunos 10 1/2 '05                   16 - 18 (f)
Cityscape 12 3/4 '05                10 - 11 (f)
E & S Holdings 10 3/8 '06           45 - 50
Geneva Steel 11 1/2 '01             19 - 20 (f)
Globalstar 11 1/4 '04               73 - 75
Iridium 14 '05                      38 - 41
Loewen 7.20 '03                     51 - 53
Penn Traffic 8 5/8 '03              49 - 51 (f)
Planet Hollywood 12 '05             26 - 28 (f)
Samsonite 10 3/4 '08                75 - 77
Service Merchandise 9 '04           24 - 25 (f)
Sunbeam 0 '18                       11 - 13
TWA 11 3/8 '06                      47 - 48
Vencor 9 7/8 '05                    15 - 18 (f)
Zenith 6 1/4 '11                    31 - 33 (f)

                   *********

The Meetings, Conferences and Seminars column appears in
the TCR each Tuesday.  Submissions via e-mail to
conferences@bankrupt.com are encouraged.  Bond pricing,
appearing in each Friday edition of the TCR,
is provided by DLS Capital Partners, Dallas, Texas.

                   *********

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.  

This material is copyrighted and any commercial use, resale
or publication in any form (including e-mail forwarding,
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Information contained herein is obtained from sources
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