TCR_Public/990820.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, August 20, 1999, Vol. 3, No. 161                                              
                           
                    Headlines

AMERICAN STANDARD: Announces Discovery of New Virus
AMERICAN STANDARD: Record Sales & Research Discovery In 1999
APRIA HEALTHCARE: Second Quarter Revenues Down, Income Up
BUCYRUS INTERNATIONAL: Quarter Results Reported
CALIFORNIA COASTAL: No Revenues For Second Quarter

COMMERCIAL FINANCIAL: Court Stipulates Money In Account
DOW CORNING: Asks That Confirmation Date Bar Late-Filed Claims
EATON'S: Bankruptcy Rumors Fly as Shares Hit Record Low
EDISON BROTHERS: Seeks To Appoint Committee of Retired Employees
EDISON BROTHERS: Results of Operations

ESKEL PORTER: Files For Chapter 11 Protection
FAVORITE BRANDS: Brach Confections May Get It All
GENEVA STEEL: Announces Third Quarter 1999 Results
HARNISCHFEGER: South Shore Seeks To Sell Land For $10.5 Million
HARNISCHFEGER: JOY'S Motion To Implement Early Retirement Program

IMAGICA ENTERTAINMENT: Financial Figures Filed With SEC
IMAGYN MEDICAL: Reports Loss For Month of June
J.PETERMAN: 4,000 Claims Filed; Distribution Yet Unknown
LATTICE SEMICONDUCTOR: Shareholder Interest Over 14%
LOEWEN: Proposes Acquisitions
LOEWEN: Seeks Authority For Sale of Van Nuys Property

MEDAPHIS: Reports Lower Revenue, Higher Losses
PHILIP SERVICES: Seeks Extension To Assume/Reject Leases
PLANET HOLLYWOOD: Shareholders Sue to Stop Bankruptcy Filing
QUALITECH: $84 Million Owed To Those With Little Hope of Recovery
RECYCLING INDUSTRIES: Seeks Extension of Exclusivity

SOURCEONE WIRELESS: Seeks Extension To Assume/Reject Leases
STUART ENTERTAINMENT: Took $3M Charge for Recent Restructuring
WILSHIRE FINANCIAL: Reports Results of Operations
WILSHIRE FINANCIAL: S&P's Affirms its Rankings
WSR CORP: Applies To Retain Conway, Del Genio

BOND PRICING: For Week of August 16, 1999

                   **********

AMERICAN STANDARD: Announces Discovery of New Virus
---------------------------------------------------
DiaSorin Inc., the Medical Systems Division of American
Standard Companies Inc., reports its discovery of a new
virus linked to liver disease of previously unknown cause.
The virus, SEN-V, was discovered by Dr. Daniele Primi and his
research team at the DiaSorin Biomolecular Research Center
in Brescia, Italy.

The newly discovered virus is highly associated with acute
and chronic hepatitis, possibly accounting for a majority of
cases of viral hepatitis of unknown origin. Viral hepatitis
is a serious health problem with as many as 5.2 million
people in the United States infected with acute or chronic
viral hepatitis.  

The newly discovered virus is blood-borne, placing
transfused patients and intravenous drug users at risk.
While no blood screening system exists currently for the new
virus, appropriate screening of blood and blood products in
the future may control its spread.  

Dr. Primi and his research team have characterized the unique
genomic sequences of the new virus and developed prototype
assays.  DiaSorin filed patent applications covering this
discovery in 1998. The research team is conducting additional
research to isolate and characterize the viral particle.

Expanded clinical studies are also being conducted in
collaboration with the National Institutes of Health to
understand further the dynamics of immune response and the
clinical implications of the virus. Initial studies reveal
that approximately 30% of HIV patients are also infected with
the new virus.  DiaSorin expects to publish these results in
the next several months.

American Standard is the global, diversified manufacturer of
Trane(R) and American Standard(R)air conditioning products,
American Standard(R), Ideal Standard(R), Standard(R),
Porcher(R), Armitage Shanks(R) and Dolomite(R) plumbing
products, WABCO(R) commercial and utility vehicle braking
and control systems, Copalis(R) and Pylori-Chek (TM) medical
diagnostic systems and DiaSorin(TM) medical diagnostic
products.


AMERICAN STANDARD: Record Sales & Research Discovery In 1999
------------------------------------------------------------
American Standard Companies Inc. is a Delaware corporation
organized in March 1988, and has as its only investment all
the outstanding common stock of American Standard Inc.

The company achieved record sales of $1,936 million in the
second quarter of 1999, an increase of $141 million, or 8% (9%
excluding unfavorable foreign exchange effects), from $1,795
million in the second quarter of 1998.  Net income for the
two periods was $90 million and $28 million, respectively.
For the six months ended June 30, 1999 the company's sales
revenues were $3,610 million while net income was $137 million.
In the first six months of 1998 revenues realized were $3,288
million and net income was $64 million.

On February 2, 1999, the company acquired the Bathrooms
Division of Blue Circle Industries PLC, a manufacturer of
ceramic sanitaryware, brassware and integrated plumbing
systems, for approximately $430 million, including fees and
expenses and net of cash acquired, with borrowings under
the company's 1997 credit agreement. The acquired business
consists of two principle businesses, Armitage Shanks,
a United Kingdom manufacturer, and Ceramica Dolomite, an
Italian manufacturer, had 1998 sales of approximately $290
million and assets at December 31, 1998 of approximately
$250 million. Armitage/Dolomite has 3 large and 9 small
facilities located in the United Kingdom and Italy, and
employs approximately 3,200 people. The primary markets
for its products are in the United Kingdom, Italy, Ireland
and Germany.  The company expects to complete its plans to
integrate Armitage/Dolomite into existing European operations
by the end of 1999.  This process could result in additional
expenses or increase the amount of goodwill.

On May 6, 1999, the company engaged Goldman Sachs & Co. and
Vector Securities International, Inc. as advisors to evaluate
the potential and prospects for the company's Medical Systems
business and to review and make recommendations to the
company's Board of Directors concerning its strategic options.

On July 20, 1999 the company issued a press release (reported
elsewhere in this Reporter) related to the status and progress
to date of research that has identified a virus ("SEN-V")
present in blood samples of certain humans afflicted with
liver diseases of unknown cause.  The Board of Directors, the
company's management and the advisors are continuing to explore
strategic options for the company's Medical Systems segment
with a view to protect and realize the potential inherent value
to stockholders related to its recent findings regarding SEN-V.


APRIA HEALTHCARE: Second Quarter Revenues Down, Income Up
---------------------------------------------------------
Apria Healthcare Group Inc. had net revenues of $232 million
for the second quarter of 1999, compared to $240.6 million
for the second quarter of 1998.  For the six months ended
June 30, 1999, net revenues were $460.3 million compared to
$491.2 million for the same period last year. According to
the company the decline in revenues is attributable to
the recent exit from the infusion therapy service line in
certain geographic markets, the 5% reduction in Medicare
reimbursement rates in 1999 for home oxygen therapy, and
the exit from contractual arrangements that were not meeting
minimum profitability standards.

Net income in the second quarter of 1999 was $17,804 as
compared to net losses in the same period of 1998 of $8,956.
During the six months ended June 30,1999 net income for the
company was $33,366 as compared to net losses of $15,563 for
the same six-month period in 1998.



BUCYRUS INTERNATIONAL: Quarter Results Reported
-----------------------------------------------
Bucyrus International Inc.'s net sales for the quarter
and six months ended June 30, 1999 were $90,549,000 and
$165,159,000, respectively, compared with $80,041,000 and
$153,741,000 for the quarter and six months ended June 30,
1998, respectively. Net loss for the quarter and six months
ended June 30, 1999 was $756,000 and $2,852,000, respectively,
compared with a net loss of $293,000 and $9,362,000 for the
quarter and six months ended June 30, 1998, respectively.

New orders for the quarter and six months ended June 30,
1999 were $56,369,000 and $110,101,000, respectively, which
is a decrease of 19.4% and 18.5% from the quarter and six
months ended June 30, 1998, respectively.

On April 30, 1999, the company consummated the acquisition
of Bennett & Emmott (1986) Ltd., a privately owned Canadian
company with extensive experience in the field repair and
service of heavy machinery for the surface mining industry.
In addition to the surface mining industry, Bennett & Emmott
services a large number of customers in the pulp and paper,
sawmill, oil and natural gas industries in Western Canada, the
Northwest Territories and the Yukon.  The company provides
design and manufacturing services, as well as in-house
and field repair and testing of electrical and mechanical
equipment.  Bennett & Emmott also distributes compressors,
generators and related products.


CALIFORNIA COASTAL: No Revenues For Second Quarter
--------------------------------------------------
California Coastal Communities Inc. is a residential
land development and homebuilding company with properties
located primarily in Southern California. The principal
activities of the company and its consolidated subsidiaries
include: obtaining zoning and other entitlements for land
it owns and improving the land for residential development;
single-family residential construction in Southern California;
and providing residential real estate development services
to third parties. Once the residential land owned by the
company is entitled, the company may sell unimproved land
to other developers or homebuilders; sell improved land to
homebuilders; or participate in joint ventures with other
developers, investors or homebuilders to finance and construct
infrastructure and homes.

The company reported no revenues for the second quarter of
1999, compared with revenues from continuing operations of $1.7
million for the second quarter of 1998. Revenues and related
costs of sale in the 1998 period reflect only the sale of the
final 35 lots in phase I of the company's Rancho San Pasqual
project. The company does not expect to report any revenues
until the fourth quarter of 1999, when the delivery of homes
is scheduled to commence at its 112-home Rancho San Pasqual
project in Escondido, California.  The net loss for the second
quarter of 1999 was $0.5 million whereas the company showed
a net gain of $6.3 million in the same period of 1998.


COMMERCIAL FINANCIAL: Court Stipulates Money In Account
-------------------------------------------------------
Tulsa World reports on August 19, 1999 that U.S. Bankruptcy Judge
Dana L. Rasure approved an order Tuesday that stipulated how much
money is held in a Bank One Oklahoma account for Commercial
Financial Services Inc. and two partnerships related to the
failed company.

The order's approval was a precursor to a busy court schedule for
CFS next week. Hearings on various items related to the
bankruptcy are scheduled for Aug. 24, 26 and 27.

Included in next week's hearings are a request for the
appointment of a Chapter 11 trustee, filed by William Kuntz III;
several applications for payment of claims and for services
rendered; and several requests to take a look at the former debt
collection company's operations.

CFS, which once employed 3,900 people in Oklahoma City and Tulsa,
filed for bankruptcy protection in December. It ceased operations
in June and a group of fewer than 140 employees are winding down
the company.


DOW CORNING: Asks That Confirmation Date Bar Late-Filed Claims
--------------------------------------------------------------
The Debtor advises Judge Spector that the Court has received 591
requests for permission to file tardy claims in this chapter
case.  The Debtor expects more will such requests will arrive.  
Because Dow Corning is a solvent debtor, tardy claims are payable
in full just like timely-filed claims.

The Debtor suggests, however, that the casual approach to
accepting late-filed claims halt after confirmation, and that the
Confirmation Date serve as a bar to late-filed claims.  

The Bankruptcy Code, the Debtor argues, promotes finality, the
concept of a fresh start and a discharge from pre-petition debts.  
If late-filed claims -- especially given the widely-publicized
bar date fixed by the Court years ago -- are allowed to come in
forever, these three principles are meaningless.  The "solvency
exception" to a bar date cannot be boundless, the Debtor urges.  

To date, Daticon has received 904,077 proofs of claim.  The 1996
message way clear: act now to file your claim.  Many heard and
acted.  Many delayed and have submitted tardy claims over the
past three years.  Confirmation, the Debtor urges, should be the
last moment by which a tardy claim must be filed or forever
barred.  


EATON'S: Bankruptcy Rumors Fly as Shares Hit Record Low
-------------------------------------------------------
Shares in Canadian department store chain T. Eaton Co. fell to a
record low yesterday, amid rumors that the company may file for
bankruptcy protection this week, Reuters reported. The stock of
the 130-year-old retailer began falling on Monday after Eaton
announced that negotiations with a prospective buyer failed on
Friday and that there are no other prospects. Eaton's closed its
warehouse, laid off 300 employees and said it would not accept
further shipments. The company issued a statement on Monday that
it had begun negotiations with lenders and key landlords. In
1997, Eaton's filed for reorganization under the Canadian
Companies' Creditors Arrangement Act, and speculation on the
market yesterday was that it would do so again this week. (ABI
19-Aug-99)


EDISON BROTHERS: Seeks To Appoint Committee of Retired Employees
----------------------------------------------------------------
Pursuant to 11 U.S.C. Sec. 1114(d), the Debtors ask Judge Walrath
to direct the appointment of an official committee of retired
employees to serve as the authorized representative of persons
who retired from employment with the Debtors in negotiations
concerning modification of retiree benefits.  

The Debtors tell the Court that retirees receive benefits under
the terms of the Edison Brothers Stores, Inc., Medical and Life
Insurance Plan.  For persons who retired before January 1, 1991,
hat Plan currently provides that the Debtors pay all of the costs
for those Participants' medical, surgical and hospital care.  For
persons who retired after January 1, 1991, the Debtors contribute
a flat fee toward Participants' medical coverage.  

Recently, the Debtors advise, they solicited indications of
willingness to serve on a committee from 200 retirees.  Based on
the responses to that solicitation, 13 retirees representing a
broad range of the Debtors' retiree population agree to serve on
a court-appointed committee.

The Debtors make it clear that they believe they can terminate
the Plan without the consent of the Retirees and without resort
to Sec. 1114.  In all events, however, the Debtors cannot
continue paying Plan benefits beyond the time of their
liquidation.  While holding a unilateral termination hammer over
the Retirees, the Debtors say they want to work with a Retirees
Committee to come to agreements about termination issues,
the potential magnitude of any retiree claims and the
apppropriate method of payment of such claims.  

To facilitate distribution of information to retirees and provide
a forum for good faith discussions with retirees, the Debtors ask
Judge Walrath to appoint a Retirees Committee comprised of the 13
individuals willing to serve pursuant to 11 U.S.C. Sec. 1114(d).
(Edison Brother Bankruptcy News Issue 33; Bankruptcy Creditors'
Services, Inc.)

EDISON BROTHERS: Results of Operations
--------------------------------------
For the five weeks ended July 3, 1999, the debtors report net
sales of $42.7 million and a net loss of $73.7 million.


ESKEL PORTER: Files For Chapter 11 Protection
---------------------------------------------
The Sacramento Bee reports on August 18, 1999 that a longtime
player in the computer sales, cabling and consulting
business in the Sacramento area has filed for Chapter 11
bankruptcy protection and will focus on technical staffing and
consulting as part of its reorganization plan.

Eskel-Porter Inc. of West Sacramento filed for bankruptcy
protection in federal Bankruptcy Court in Sacramento, claiming
assets and liabilities of more than $ 1 million each.

As part of its reorganization plan, the 21-year-old company will
shed its business of installing telecommunications cabling in
construction projects, which has accounted for the bulk of its
losses over the past year, said Thomas Willoughby, Eskel-Porter's
attorney.

Just prior to the Chapter 11 filing, Eskel-Porter sold off its
computer equipment sales arm to two managers of that division. It
plans to complete about 10 major cabling projects, primarily
wiring schools for computer connections in Northern California,
before shutting down that part of its business, Willoughby said.
The cabling division employs about 30 workers, and the company
said it will try to place them in other jobs.

Eskel-Porter then will concentrate on its 100-person consulting
and technical staffing business, which has produced the most
profit for the company over the past several years, Willoughby
said. The company already has obtained a $ 925,000 bank loan to
ensure the liquidity of its staffing and consulting division and
to complete its construction projects, Willoughby said.

In a prepared statement, Eskel-Porter said cash flow generated by
that division will allow it to begin making payments to its
creditors, three of which are owed more than $ 200,000 each.
The company's troubles stem from its cabling business, which it
acquired in April of 1998.

"The acquisition of the cabling company ... resulted in
unexpected and significant debt," the statement said.

Eskel-Porter was founded in a garage in Sacramento in 1978 by
John Eskel and Robert Porter and has grown into a major force in
the area in technical consulting and staffing. The first public
sign of its distress came late last month when it announced it
had laid off 15 workers from its computer sales division.
Those workers now are expected to be rehired by the division,
which has been sold to two managers and renamed MMG Technologies.


FAVORITE BRANDS: Brach Confections May Get It All
-------------------------------------------------
The Chicago Tribune reports on August 19, 1999 that
Brach Confections is seeking to acquire Favorite Brands
International's business in its entirety.

While it was reported that Brach was seeking to acquire the
Farley portion of candy industry rival Favorite, sources now say
discussions have been ongoing for all of that Bannockburn-based
parent and its units.

There are also rumors that Cadbury Schweppes or
a venture capital firm will be in the deal or its financing.

Favorite's total annual sales are in the $750 million to $800
million range, including about $300 million from products of
Farley Foods, acquired three years ago. Brach's annual volume is
around $500 million.

There are also unconfirmed reports that Swiss-based Nestle, a
player in the candy bar business, recently did an audit as part
of a potential acquisition of Brach, but the deal fell through.


GENEVA STEEL: Announces Third Quarter 1999 Results
--------------------------------------------------
Geneva Steel reported a net loss of $29.5 million, or a loss of
$1.76 per dilutive common share, for the third fiscal quarter
ended June 30, 1999. This compares with net income of $2.0
million, or a loss of $.06 per dilutive common share (after
accounting for dividends on preferred stock), for the same
period last year.  The operating loss for the third fiscal
quarter was $25.3 million, compared with operating income of
$14.0 million during the same period last year.

Sales and tons shipped during the quarter were $87.0 million and
317,200 tons, respectively, compared with sales and tons shipped
of $188.7 million and 507,500 tons, respectively, for the same
period last year.

For the nine months ended June 30, 1999, the Company reported a
net loss of $121.6 million, or a loss of $7.55 per dilutive
common share (after accounting for dividends on preferred stock).  
This compares with net income of $2.7 million, or a loss of $.37
per dilutive common share (after accounting for dividends on
preferred stock), for the same period last year.  The operating
loss for the nine-months ended June 30, 1999, was $101.1 million,
compared with operating income of $36.2 million during the same
period last year.

Sales and tons shipped during the nine-months were $225.0 million
and 783,800 tons, respectively, compared with sales and tons
shipped of $562.7 million and 1,559,200 tons, respectively, for
the same period last year.

As of February 1, 1999, the Company discontinued accruing
interest on its senior notes and dividends on its redeemable
preferred stock.

As of August 11, 1999, the Company's eligible inventories,
accounts receivable and eligible equipment supported access to
$66.4 million in borrowings  under the Company's credit facility.  

As of August 11, 1999, the Company had $8.9 million available
under the credit facility, with $55.2 million in borrowings and
$2.3 million in letters of credit outstanding.

At current production and pricing levels, the Company's
production activities continue to consume cash.  The Company
continues to pursue activities to minimize the liquidity impact
thereof.  Nevertheless, an improvement in market conditions is
likely necessary for the Company's production activities to
become cash flow positive.

Geneva Steel is an integrated steel mill operating in Vineyard,
Utah.  The Company manufactures steel plate, hot-rolled coil,
pipe and slabs for sale primarily in the Western and Central
United States.


HARNISCHFEGER: South Shore Seeks To Sell Land For $10.5 Million
--------------------------------------------------------------
Along South Lake Drive in St. Francis, Wisconsin, South Shore
Development LLC owns 66.75 acres of residential land and 18.25
acres of commercial land.  South Shore acquired the property in
1997 and planned to develop the property.  After interviewing
several architects, the Debtors entered into a joint venture
development letter of intent with Opus North Corporation.  That
JV was never consummated after it became apparent to
the Debtors that, because of their financial problems,
development was not practical.  Accordingly, the Debtors hired
The Boerke Company, Inc., as their brokers to market and sell the
Property.

Boerke's efforts produced an offer in April, 1999, from FF Realty
LLC to buy (a) the Residential Property for $8,040,000 in cash
and (b) an option to purchase the Commercial Property for
$2,460,000 in cash.

The Debtors believe that FF Realty's offer is the highest and
best that can be obtained for the Property.  The Debtors assure
the Court and creditors that FF Realty is not an "insider" within
the meaning of 11 U.S.C. Sec. 101(31).  The Debtors suggest that
an auction of the Property, while inviting, would likely produce
no higher or better offer, would delay the sale well past 1999,
and would incur substantial costs.  

The Debtors ask the Court for authority to consummate the sale
permission to pay a 3% commission to Boerke.  (Harnischfeger
Bankruptcy News Issue 9; Bankruptcy Creditors' Services Inc.)


HARNISCHFEGER: JOY'S Motion To Implement Early Retirement Program
----------------------------------------------------------------
To encourage 54 salaried employees, who are at least 58 years of
age on November 1, 1999, to retire early, Joy proposes to offer
them:

(A) a one-time payment equal to 26 weeks' salary; plus

(B) 2/3 of social security income starting 13 months after
retirement and continuing until age 65.  

If all 54 employees elect to participate in this early retirement
program, the Debtors will incur a one-time $1,200,000 cost on
account of the 26-week salary payment.  The installment payments,
estimated to aggregate $1,750,000, commencing one year later will
be drawn not from corporate assets but from the Harnischfeger
SERP Qualified Pension Plan.  

Joy needs to reduce its workforce in order to successfully
reorganize, the Debtors tell Judge Walsh.  Offering an early
retirement program, the Debtors have learned from experience, is
effective.  In the most recently proposed early retirement
program, 23 of 25 eligible employees elected to participate.  
Importantly, too, a voluntary early retirement program helps
employee morale.  Involuntarily terminating 54 salaried Joy
employees is simply not a viable option. (Harnischfeger
Bankruptcy News Issue 9; Bankruptcy Creditors' Services Inc.)


IMAGICA ENTERTAINMENT: Financial Figures Filed With SEC
-------------------------------------------------------
Imagica Entertainment, Inc.(formerly RangerInternational, Inc.)
was incorporated under the laws of the State of Florida on
January 21, 1987.  The company's name was changed to Imagica
Entertainment,Inc. effective June 10, 1996.

Imagica's principal products are large format screen printed
banners, digital banners, signs, and aluminum stands for
banners and signs.  Much of the company's production of banners
and signs are used as point of purchase displays. The company
attempts to create a recognizable image of its products to
its customer base and the general public through its internet
web site, mass mailings and catalogs sent to potential buyers.
It also exhibits at trade shows for markets with the greatest
potential to use its products.

The company markets its products throughout the United
States and many foreign countries.  It sells through
sales representatives and through its internet website.
The principle markets for the company's products are;
businesses, charitable and non profit groups, sports
organizations and political individuals and groups.  Some of
the companys principal accounts are; Arbys, Acura, Jose Cuervo,
Sony, Spaten Beer, Pratt Whitney, Kraft, U.S. Postal Svc.,
Siemens, Marlboro, Olive Garden, Coca Cola, Seagram, Huntington
Bank, Epson, Redman Tobacco, Subway, Osmose wood products,
Crown Royal, Cellular One, WalMart, Volvo, CVS Pharmacy,
Checkers Restaurants, Micro Soft, Washington Apple Growers,
Congoleum flooring, Pepsi, Mars Candy, Quincy Restaurants,
Red Lobster Restaurants.

Imagica is currently under a private investigation by the
Securities and Exchange Commission Enforcement Division
regarding "In the Matter of Certain Stock Advertisements."
According to the SEC, this investigation is confidentialand
should not be construed as an indication by the SEC that
any violations of law have occurred, or as an adverse
reflection upon any person, entity or security.  The company
and its counsel are unable to predict the outcome of this
investigation but believe any action taken by the SEC will
not have a material adverse affect on the company's financial
position or results of operations.

Imagica filed this month, with the SEC, financial statements
for the fiscal year ended May 31, 1997.  Net sales in that
fiscal year, $3.2 million, decreased as compared to sales
of $4.7 million in 1996. The company's loss from operations
in 1997 of $4,336,780 included significant non-cash charges
of $2,861,406 related to the issuance of common stock for
compensation and consulting services. The net loss was
further impacted by non-cash interest charges of $167,428
related to debt that was convertable at price below quoted
market prices at the date the convertible debt was issued,
the write off $ 518,788 of uncollectible amounts due from
the companies past president and an affiliated company he
controlled and $ 72,500 for uncollectible notes receivable
related to an employee stock purchase plan. In addition the
company wrote off $206,632 for money expended on a prototype
printing machine that was not a viable project and $95,554
from the disposal of obsolete equipment.  Excluding the
non-cash charges and write-offs the net loss for 1997 was
$414,472 which is comparable to the 1996 net loss of $401,677.

In May 1997 Imagica filed for Chapter 11 bankruptcy.
That bankruptcy was dismissed in February 1998 with no
reorganization plan or stock distribution.

In 1998 there were significant extraordinary expenses as
a result of the companys filing Chapter 11 bankruptcy on
May 15, 1997. As stated above the bankruptcy was dismissed
on February 2, 1998 as being without merit and against the
company's interest.  This lawsuit was filed by the prior board
in an effort to block the Board elected by the stockholders. In
excess of $100,000 was spent for legal and court fees in 1998
for the bankruptcy and it's dismissal.

The company has experienced declining sales since 1996. Sales
in 1998 of $2.9 million compare to sales of $3.2 million in
1997 and $4.7 million in 1996. The company's net loss amounted
to $4.3 million in 1997, and $ 2.2 million in 1998.


IMAGYN MEDICAL: Reports Loss For Month of June
----------------------------------------------
Imagyn Medical Technologies Inc. and its subsidiaries on
May 18, 1999 filed a voluntary petition for reorganization
under Chapter 11 of the Bankruptcy Code in the United
States Bankruptcy Court for the District of Delaware.
Since that date, the company has continued managing its
affairs as "debtors-in-possession" and has rendered its
monthly financial report covering the period June 1 through
30, 1999. Net revenues for the month were reported at $2,669
while net losses for the period were reported to be $2,665.


J.PETERMAN: 4,000 Claims Filed; Distribution Yet Unknown
--------------------------------------------------------
The Lexington Herald-Leader reports on August 19, 1999 that the
process of repaying creditors in the J. Peterman Co. case will be
a long one.

There are 4,000 individuals and firms that have filed claims
against J. Peterman and the company could get a vote by October
on a plan that will outline how much and when they get paid.

The attorneys will ask Judge William S. Howard at a Sept. 9
hearing to rule that they have provided creditors with enough
information to vote on a plan setting out how the company's
assets will be divided among them. A hearing on the plan would
then be scheduled and the voting process would begin.

According to the debtor's attorney it is too soon to say how many
pennies on the dollar creditors can expect to receive. B

When the J. Peterman Co. filed for protection under
Chapter 11 of federal bankruptcy law, it stated that its debts
exceeded its assets by $14 million.

The company brought $10 million at a bankruptcy auction, but
somewhere between $5 million and $6 million of that was used to
pay off J. Peterman's only secured creditor, Heller Financial of
Chicago. That leaves between $4 million and $5 million for the
other creditors, about 4,000 of them. Attorneys said yesterday
they do not have a final figure on the remaining debt.

The company, including its inventory, mailing list, catalog
operations and name, was sold at a bankruptcy auction March 5.
Paul Harris Stores Inc., a 304-store women's clothing chain based
in Indianapolis, paid $10 million for J. Peterman.

Paul Harris, which is not involved in the bankruptcy proceedings,
plans to revamp the J. Peterman catalog and open more stores.

Because Paul Harris now owns the J. Peterman name, what's left of
the debtor company is being referred to in bankruptcy court as
the Russell Cave Company. J. Peterman's headquarters and
warehouse were on Russell Cave Road.

Paul Harris moved the J. Peterman headquarters to Indianapolis.
Lexington-based Gall's Inc., a catalog that sells military and
law enforcement uniforms and equipment, is taking over J.
Peterman's old Russell Cave Road digs.


LATTICE SEMICONDUCTOR: Shareholder Interest Over 14%
----------------------------------------------------
J.& W. Seligman & CO. Inc. and William C. Morris each hold
shared voting power on 3,297,450 and shared dispositive power
on 3,375,136 shares of common stock of Lattice Semiconductor
Corp., representing 14.23% of the outstanding shares of
common stock in the company. William C. Morris, as the owner
of a majority of the outstanding voting securities of J. &
W. Seligman & Co. Incorporated, may be deemed to beneficially
own the shares reported here by J. & W. Seligman.  Accordingly,
the shares reported here by William C. Morris include those
shares separately reported here by J. & W. Seligman.

Seligman Communications & Information Fund, Inc. has shared
voting and dispositive power over 2,400,000 share of the common
stock of the company. This amount represents 10.12% of the
outstanding shares of common stock of Lattice Semiconductor.
J. & W. Seligman & Co. Inc., as investment adviser for
Seligman Communications and Information Fund, Inc., may be
deemed to beneficially own the shares reported by the Fund.
Accordingly, the shares reported by J. & W. Seligman include
those shares separately reported here by the Fund.


LOEWEN: Proposes Acquisitions
-----------------------------
The Debtors operate Fannin Funeral Home in Houston, Texas,
providing services to its own customers and centralized
emballming and livery services to other funeral homes in the
Houston area.  Houston is one of Loewen's most significant
markets.  The Debtors rent the Fannin property from the Earthman
Family on a month-to-month basis as a holdover tenant
after their Lease Agreement expired in January, 1999.  The
Earthman Family has told the Debtors that they may buy the
facility or be evicted.  Faced with those alternatives, the
Debtors opt to purchase the property for $1,250,000 in cash.  

The Debtors seek authority from the Court, to use $1,250,000 to
purchase the Fannin Property.  The Debtors believe relocation is
economically undesirable and stress that the Fannin Property is a
critical component of their Houston operations.

In Leavenworth, Washington, the Debtors operate six funeral homes
and cemeteries.  Ward Funeral Home is a key part of Leavenworth
operations.  The Debtors' lease agreement with Ward's former
owner expired on January 4, 1999.  Since then, the Debtors have
rented the Ward Facility on a month-to-month basis.  The Ward
Lease offers the Debtors the option to purchase the Ward Facility
for $200,000.  The Debtors are convinced that Ward Funeral Home
adds value to their operations far in excess of $200,000.  

Additionally, if the Debtors exercise their purchase option,
the former owner will be bound to a non-competition agreement for
five additional years.  The Debtors have determined that
relocation is economically undesirable.  

Accordingly, the Debtors ask the Court for authority to
consummate the purchase without further delay.  

The Debtors indicate that the owner has agreed to accept a
$20,000 down payment in cash and self-finance the $180,000
balance over 15 years at 8% interest.  

In 1994, the Debtors purchased two cemeteries in Shreveport,
Louisiana, from Crestview Woods, L.P., and Raseberry's Commercial
Property, L.P.  These entities also own Shreveport Monument
Company, Inc. -- supplying masonry grave markers and other
monuments to cemeteries in the Shreveport area.  Concomitant with
their purchase of the cemeteries, the Debtors also entered into
an Exclusive Supply Agreement under which the Debtors are
obligated to purchase all of the monuments for the Shreveport
Cemeteries from Shreveport Monument.

A dispute has arisen under the Exclusive Supply Agreement.
Negotiations followed and the Debtors agreed to pay $451,491 to
purchase Shreveport Monument, payable with $250,000 due in cash
at closing and the balance payable in installments over seven
years.   

The Debtors are convinced that this transaction presents an
excellent opportunity to resolve their disputes, foreclose future
litigation, and ensure monument supply to the Shreveport
Cemeteries.  (Loewen Bankruptcy News Issue 8; Bankruptcy
Creditors' Services, Inc.)


LOEWEN: Seeks Authority For Sale of Van Nuys Property
-----------------------------------------------------
In November, 1998, Rose Hills Company (majority-owned by
Blackstone and minority-owned by LGII) received an offer from an
unnamed purchaser to sell 1.9 acres of real property located in
Van Nuys, California, for $1,000,000.  In preparing to close the
sale, Rose Hills discovered that LGII still holds legal title to
the property.  The Debtors' bankruptcy cases were commenced
before the paperwork could be completed to transfer legal title
from LGII to Rose Hills.  Hence, technically, the Van Nuys
Property constitutes property of the Debtors' estates pursuant to
11 U.S.C. Sec. 541.  

The Property, the Debtors explain, was to be used to open a
second funeral home under the Glasband-Willen name.  Rose Hills
abandoned that plan as a losing proposition after it discovered
there were so many zoning and traffic restrictions in place that
operation of a funeral home would be next to impossible.

Rose Hills would like to hold-up its end of the purchase and sale
agreement.  Accordingly, Rose Hills has asked the Debtors to sell
the Property to the Purchaser.  By this Motion, the Debtors ask
the Court for the requisite authority to complete the sale and
deliver the Property to the Purchaser free and clear pursuant to
11 U.S.C. Sec. 363.  

The Debtors do not indicate in their Motion papers who will get
the $1,000,000. (Loewen Bankruptcy News Issue 8; Bankruptcy
Creditors' Services, Inc.)


MEDAPHIS: Reports Lower Revenue, Higher Losses
----------------------------------------------
Medaphis Corporation, a corporation organized in 1985 under
the laws of the State of Delaware, provides a wide range of
business management services, enterprise-wide software and
electronic commerce solutions to healthcare providers. The
company's large client base and national presence further
support the company's competitive position. Medaphis believes
it is well-positioned to capitalize on the healthcare industry
trends toward consolidation, managed care and cost containment
through a broad range of services and products that enable
customers to provide quality patient care efficiently and
cost effectively. Medaphis provides its services and products
through Per-Se Technologies and Medaphis Physician Services.

In the three months ended June 30, 1999 net revenues
reported were $82,357 with net losses sustained of $35,610.
For comparison, the three months ended June 30, 1998 showed
net revenues of $89,329 with net losses of $29,816.  In the
six months ended June 30, 1999 net revenues were $163,730
as compared to the same six month period in 1998 when net
revenues were $184,678.  Net losses in the six month 1999
period have been $49,406; in the same six month period in
1998 net losses were $40,523.


PHILIP SERVICES: Seeks Extension To Assume/Reject Leases
--------------------------------------------------------
The debtors, Philip Services (Delaware) Inc., et al., seek an
extension of time to assume or reject unexpired nonresidential
real property leases.

The debtors seek an extension through the earlier of the
Effective Date of the plan of reorganization or February 24,
1999.

The debtors claim that additional time is necessary to allow the
debtors to make informed decisions regarding which leases will be
essential to the debtors' businesses upon their emergence from
Chapter 11.

The debtors' cases are both large and complex.  The debtors have
been faced with complex issues, particularly due to the cross-
border nature of the cases, and while they have made progress in
the cases, they need more time to analyze the leases.  This is
the first request for an extension of this nature.


PLANET HOLLYWOOD: Shareholders Sue to Stop Bankruptcy Filing
------------------------------------------------------------
Shareholders of Planet Hollywood Inc., Orlando, Fla., have filed
a lawsuit seeking to block the restaurant chain from filing a
pre-packaged chapter 11 plan, according to The Orlando Sentinel.
The suit, filed last Tuesday in Delaware, accuses company
insiders of looking after their own interests while allowing
individual shareholders to lose their stake in the theme  
restaurant. Details of the suit were not available, but
reportedly officials at the company's headquarters called it a
"nuisance suit" and said it would not affect its plans. Planet
Hollywood announced Tuesday that it plans to file for chapter 11
protection, with approval from its lenders, in the near future.
The New York Stock Exchange suspended trading in the company's
stock yesterday, stating that Planet Hollywood had indicated it
planned to cancel its common stock and exchange the shares for
new warrants for new common stock. (ABI 19-Aug-99)


QUALITECH: $84 Million Owed To Those With Little Hope of Recovery
-----------------------------------------------------------------
The Indianapolis News reports on August 18, 1999 that at least
$84 million of the debts of Qualitech Steel Corp. are owed to
companies who now have very little hope of collecting.
Many of them are small, family-owned outfits that can barely
stand the loss, according to attorneys in the U.S. Bankruptcy
Court case. Records in bankruptcy court in Indianapolis show
hundreds of small and medium-sized companies that claim Qualitech
owes them money.

Qualitech filed for Chapter 11 bankruptcy in March, claiming
$486 million in debts and $ 247 million in assets.

The company convinced a bankruptcy court judge to try an unusual,
high-stakes auction to try to find a buyer for the mill and its
related iron ore plant in Texas. While more than a dozen buyers
from around the world showed an interest, none would tip their
hand in a public bidding process. Last week, Judge Anthony J.
Metz III gave the company to the international group of banks
that loaned about $ 300 million to Qualitech. They were the
secured creditors, and so the court took their claims for payment
first, ahead of unsecured creditors like the $ 33 million owed to
the state and the millions to small companies.

The banks probably will find a buyer or else will form their own
new company to own and operate the mill.

Chicago attorney John R. Weiss, representing the unsecured
creditors in court, said they may get a few cents on the dollar,
eventually. It probably will not exceed 10 cents on the dollar
and may take three to 10 years to occur. The amount and timing
depends on factors such as whether the sale price of Qualitech is
at least $ 180 million or exceeds $ 300 million.

"This was a very unique case, with nearly all of the variables
working against Qualitech," Kevin Dempsey, assistant U.S.
bankruptcy trustee in Indianapolis, said Tuesday.

"It was a new company, just starting to make steel, it had no
base of customers, there were cost overruns in construction, new
technology to be built, and then the collapse of the price for
steel," he said.


RECYCLING INDUSTRIES: Seeks Extension of Exclusivity
----------------------------------------------------
Recycling Industries, Inc. seeks entry of an order extending the
debtors' exclusive periods within which to file and solicit
acceptances of a plan of reorganization.  The debtors seek to
extend the Plan Proposal Period through November 15, 1999 and the
Solicitation Period through January 14, 2000.  The debtors state
that cause exists to extend the exclusivity periods on the ground
that this extension will provide Peter J. Solomon Company,
Limited, investment banker, with the opportunity to evaluate the
global asset purchase offers and to assess potential
restructuring alternatives, a necessary component of formulating
the debtors' plan.

The debtors have just recently received the committee's term
sheet for a proposed consensual plan.  The term sheet is
predicated upon a five-year financial forecast based on certain
economic assumptions, which forecast results in a proposed
reorganization valuation of $160,000,000.  Time is needed to
evaluate all such information, and additionally, the debtors are
in the process of preparing their own long-term financial
forecasts.


SOURCEONE WIRELESS: Seeks Extension To Assume/Reject Leases
-----------------------------------------------------------
The debtor, SourceOne Wireless seeks an extension of time to
assume/reject unexpired leases of nonresidential real property.

The court entered an order approving an auction and preliminary
hearing on approval of sale of substantially all of the debtor's
assets.  The scheduled date of the auction is September 16, 1999.  
In order to preserve the value of the Tower Leases pending
consummation of a sale, the debtor requests that the court enter
an order extending the deadline for assuming or rejecting the
Tower Leases to and including November 1, 1999, which is roughly
two weeks after the deadline for successful bidders to identify
the leases that they want to assume.
The debtors request an extension to November 1, 1999 for the real
estate leases for the same reason.

The debtor also seeks an extension of the deadline of the
exclusivity period to and including November 1, 1999.  The debtor
states that there is cause for extension because any allocation
of any sales proceeds among creditor constituencies may not occur
until after the auction and identification of the highest and
best bidders.


STUART ENTERTAINMENT: Took $3M Charge for Recent Restructuring
--------------------------------------------------------------
Stuart Entertainment Inc. took a $3 million charge in its second
quarter ending June 30, as a result of its decision to close a
Texas plant and relocate its company headquarters. According to
the company's quarterly report with the Securities and Exchange
Commission, the restructuring charge includes roughly $1.1
million of recognized severance and termination benefits for
about 200 employees and $1.9 million of facility closure costs.
As of June 30, 1999, no payments were made against the
restructuring charge reserve.  (The Daily Bankruptcy Review and
ABI Copyright c August 19, 1999)


WILSHIRE FINANCIAL: Reports Results of Operations
-------------------------------------------------
Wilshire Financial Services Group Inc. (OTC: WFSGD) reported
results of operations for its second quarter ended June 30, 1999

The company's prepackaged plan of reorganization, led to the
conversion of $ 225.6 million of outstanding debt and other
obligations into new common stock. As of June 1, 1999, the
company has approximately $800 million of assets and $ 88.2
million, or $ 4.40 per share, of book equity.

For financial reporting purposes, the Company accounted for the
consummation of its restructuring effective May 31, 1999 (though
the effective date was June 10, 1999). Net loss for the month
ended June 30, 1999 was approximately $ 0.8 million, or $ 0.04
per share. Results for the predecessor company (pre-
reorganization) for the comparable period in 1998 are not
meaningful for comparative purposes.

Net interest income for the month was approximately $ 3.0
million, which consisted of interest income of $ 5.9 million,
partially offset by interest expense of $ 2.9 million.
Approximately $ 4.4 million, or 75%, of interest income was
derived from the Company's portfolio of loans and discounted
loans, with the other $ 1.5 million, or 25%, from mortgage-backed
and other securities. Interest expense consisted of $ 2.2 million
of interest on deposits at First Bank and $ 0.7 million of
interest on short-term debt facilities.

Provision for losses on loans for the month ended June 30, 1999
was approximately $ 0.1 million, resulting from additional
provisions taken on Discounted Loans in the Company's European
portfolio.  Other income was approximately $ 3.3 million for the
month ended June 30, 1999, consisting primarily of servicing
revenue of $ 1.4 million, bankcard income, net, of $ 0.4 million,
income from real estate operations of $ 0.2 million and other,
net, of $ 1.1 million. Approximately 97% of the servicing
revenue was derived from the loan servicing operations of WCC
Inc.


WILSHIRE FINANCIAL: S&P's Affirms its Rankings
-----------------------------------------------
Standard & Poor's today affirmed its ABOVE AVERAGE residential
loan servicer and residential special servicer rankings for
Wilshire Financial Services Group Inc. (Wilshire) and has removed
these rankings from CreditWatch, where they were placed Feb. 23,
1999.  The outlook is now stable.  Wilshire also remains
approved as a residential subprime loan servicer.

These actions are based on Wilshire's successful completion of
its corporate debt restructuring plan in which its corporate
noteholders and shareholders approved a prepackaged plan of
bankruptcy reorganization. Through the plan, which was approved
by the U.S. Bankruptcy Court for the District of Delaware,
approximately $184 million of the company's indebtedness was
converted to equity.  Wilshire has now been re-capitalized with
stated stockholders' equity of approximately $87 million.  
Standard & Poor's continues to monitor Wilshire's servicing
performance closely and its ability to meet all of its investor
reporting requirements and responsibilities.


WSR CORP: Applies To Retain Conway, Del Genio
---------------------------------------------
By joint application, the debtors and the Committee seek to
retain and employ Conway, Del Genio, Gries & Co. as investment
bankers to the debtors and the Committee nunc pro tunc as of July
20, 1999.

The firm will analyze and recommend a basic transition strategy
including assessing the viability and feasibility of various
transactions and presenting proposals to the debtors and the
Committee.

The firm will be responsible to assist the debtors' management in
the preparation of a confidential memorandum to present to third
parties potentially interested in a transaction, then analyzing
various transactions and making recommendations to the debtors
and the Committee.

The firm will contact third parties to determine preliminary
interest in a transaction and otherwise comply with and fulfill
the investment banker's role as set forth in an agreement between
the parties.

Upon closing of a transaction where the debtors are provided with
either subordinated or mezzanine debt and/or equity Capital,
CDG's fee will be 2.5% of subordinated or mezzanine debt raised;
and 4% of equity raised.  Monthly fees paid by the debtors will
be credited against the Financing Transaction Fee. In the event
of a sale of all of the debtor's assets, the firm's fee will be
the greater of $300,000 or 1.5% of the Sale Transaction Value.


BOND PRICING: For Week of August 16, 1999
=========================================
DLS Capital Partners, Inc., bond pricing for week of August 16,
1999

Following are indicated prices for selected issues:

Acme Metal 10 7/8 '07                     20 - 23 (f)
Amer Pad & Paper 13 '05                   59 - 61
Asia Pulp & Paper 11 3/4 '05              70 - 72
E & S Holdings 10 3/8 '06                 52 - 54
Geneva Steel 11 1/4 '01                   18 - 19 (f)
Globalstar 11 1/4 '04                     69 - 71
Hechinger 9.45 '12                        11 - 14 (f)
Iridium 14 '05                            12 - 14 (f)
Jitney Jungle 10 3/8 '07                  35 - 37
Just For Feet 11 '09                      34 - 37
Loewen 7.20 '03                           59 - 62
Planet Hollywood 12 '05                   25 - 27 (f)
Purina Mills 9 '10                        32 - 35
Samsonite 10 3/4 '08                      85 - 87
Service Merchandise 9 '04                 19 - 20 (f)
Sterling Chemical 11 3/4 '06              72 - 74
Sun Healthcare 9 1/2 '07                  11 - 13 (f)
Sunbeam 0 '18                             16 - 17
TWA 11 3/8 '06                            63 - 65
United Artists 9 3/4 '08                  36 - 39
Vencor 9 7/8 '05                          25 - 28 (f)
Zenith 6 1/4 '11                          20 - 22 (f)

      
                   **********

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, Yvonne L. Metzler 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,
electronic re-mailing and photocopying) is strictly prohibited
without prior written permission of the publishers.

Information contained herein is obtained from sources believed
to be reliable, but is not guaranteed.  The TCR subscription
rate is $575 for six months delivered via e-mail. Additional
e-mail subscriptions for members of the same firm for the term
of the initial subscription or balance thereof are $25 each.
For subscription information, contact Christopher Beard
at 301/951-6400.  


       * * * End of Transmission * * *