Arizona Republic from Phoenix, Arizona • Page 33

CITY 18 The Arizona Republic Ptwenlt, Aug. HONESTY bills and a to run a 11 fi Set nnV i good use Uy tr- i -i- Republic Photo by Thelma Heatwole PAYS-Vicki Frost, left, and Janet Graves, both 9 found $8 in few coins in a billfold alongside a Glendale school as they were SC Ut June 10 Th conferri-wUter paper or call the police. Police kept the money to There 7 ei "one. YesterdayGlendaTe See ave the edited girls the money. Vicki said she a bjrthday PreS6nt and considered an IteorgaiiSzatitm piaimed KPAZ-TV to continue Television station KPAZ-TV, which filed bankruptcy petition Wednesday in federal court, will continue operations, the trustee for the court said yesterday.

Lou Silverstein, trustee and formerly acting manager of the UHF station, said lie has been charged with reorganizing the station's operation and finding ways to pay off creditors. "We filed under Chapter 10 of the bankruptcy law," he said, "which permits us to continue business. I have met with most of our creditoYs." The bankruptcy petition for KPAZ-TV, Channel 21, was signed by Elmer Green. treasurer of Spanish Language Television of Arizona, owner of the station. There are about 100 stockholders.

"I am optimistic about the future of the station," he said. "Our sales curve has actually been increasing in the past year. We do about $45.000 business volume a month now, with more coming in than going out." The bankruptcy petition listed assets of $872,084 and liabilities of $900,893. "One of our largest creditors is RCA Victor from whom we bought equipment two years ago. No payments were ever made after a down payment," Silverstein said.

operations "I was aware that the station was in serious financial difficulty when 1 took over 30 days ago but there were a lot of things I didn't know about," he added. "There's going to be a court hearing pretty soon, and I will present my plans for the future." Sponsors have reacted sympathetically to present cir- cumstances, Silverstein ported. re- Channel 21 presents heavy schedule of foreign and classic movies, along with weekend Spanish-language programming. Zales fine watch values to keep you going strong! BAYLOR BAYLOR BAYLOR Aquaflex OO BAYLOR 17-Jewels Faceted Crystal BARON BARONESS $1Q88 -21-JeweU $1 C88 "l7.Jewel* 17 Drew Style 13 )j Shop The Convenient Way We're nothing without your love. 1969 FIRST IN ARIZONA what a funny name DON'T TRY TO PRONOUNCE IT-SEE ITI AT PARK CENTRAL.

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