PAGING THROUGH H
ABBOTSFORD T RIBUNE PUBLISHED IN ABBOTSFORD THURSDAY, DECEMBER 6, 1951
THE TRIBUNE-P HONOGRAPH PUBLISHED IN ABBOTSFORD WEDNESDAY, DECEMBER 9, 1981
Scidmore Jewelry Store, Colby, forcibly entered Burglars entered the Scidmore Jewelry Store at Colby some time during Monday night and took 34 watches, between 40 and 50 stone rings for men and ladies and three sets of matching diamond engagement and wedding rings. The loss was covered by insurance.
Because of extra merchandise purchased for the holidays, these items were not in the safe where they would ordinarily have been kept.
The burglary was discovered where Mr. Scidmore came to open his place of business Tuesday morning at 9 o’clock.
Undersheriff Ray Kutsche, Neillsville, and Traffic Officer Nelson of Owen were there Tuesday morning taking fingerprints. Marks in two places showed unsuccessful attempt at entrance through the front door. The burglars were unable to break a lock on the back door, but entrance was gained by prying off a bar.
High school has modern route for messages A new intercommunication system is now functioning at the high school and workman will probably complete the job over the weekend, in the grade building.
The system has a master control panel in the office with AM and FM radio and a record player attachment. There are 12-inch speakers in all of the classrooms and the janitor’s room.
Announcements can be made from the central point in the office to anyone, groups, or all rooms simultaneously.
Fiesta restructuring finances The Fiesta Corporation of Colby is undergoing a financial restructuring under Chapter 11 of the state bankruptcy laws, but plans to be back to full production after the first of the year, according to Fiesta President Ray Outlaw.
Fiesta has a cash flow problem caused by a part of the federal government’s tardiness in paying bills, Outlaw said. About 90 percent of Fiesta’s manufacturing is government contractor work, mostly for the Armed Services. “We have a bill for $954,000 they owe us, and it is four months overdue,” Outlaw said. “That really killed us. We hear now that half of it will be paid next week, and the remainder before the end of next year, so that will be a big help.”
Bankruptcy proceedings under Chapter 11 are less drastic than those under the Chapter 7 liquidation statute. Under Chapter 11, the firm restructures finances but continues to operate so it can “provide employees with jobs, pay creditors, and produce a return for stockholders.” Through the proceedings, it is hoped “the debtor can extend or reduce debts so the company can be returned to a viable state.”
Fiesta has worked out a plan for paying reduced amounts of current debts. Creditors cannot start any legal proceedings during the Chapter 11 program, which Outlaw said would last 150 days.
The subject came up at the Colby City Council meeting last when aldermen received a request for reduced water bill payments from Fiesta.
