Posted Wednesday, July 15, 2009 --- 12:40 p.m.

From Reedsburg Police:

REEDSBURG --- A Reedsburg police officer was flagged down early Tuesday morning by a man reporting his friend had his throat slashed.

The incident occurred in the 400 block of N. Walnut St. at approximately 1:15 a.m. Officers identified the victim as William Martinez Fiallos, 26 of Reedsburg.

Fiallos advised, through an interpreter, that he was involved in a disagreement over money with Gilberto "Danny" P. Talavera, 38 also of Reedsburg.

Fiallos stated that during the disagreement Talavera produced a knife and slashed him across the throat. Talavera then fled the scene.

Fiallos was transported to Reedsburg Area Medical Center for treatment and then later transported to UW Hospital in Madison.

Fiallos is reported in serious but stable condition.

Police are searching for Talavera as the investigation continues.

"We believe that Mr. Talavera is still in the area and encourage anyone with information as to his whereabouts to contact us immediately," said Reedsburg Police Chief Tim Becker. "This incident occurred between two subjects who knew each other; this was not a random act and I don't believe anyone else is in any danger."

Reports were sent to the Sauk County District Attorney's Office for review, requesting an arrest warrant for Talavera.