The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-04-22
THE FIGURES CLIMBING.
KROUsKOFF's LIABILITIES Up TO
THE 100000 MARK.

The Unsecured Debt Between $4,000
and $4,000 and the Secured
S49,OCO-sheriff Roman Appointed
Temporary Receiver on the Petition
of Creditors-Au the Banks Secured
by MortgaEes-The Causes Assigned
Tor the Failure.
s. Krouskof's failure is ore Of the heaviS
est that has occurred in Savannah IN recent
years His liabilities will foot up about
100000. and his assets. including his in
vestments in loan and bulldog comuanies
and industrial schemes, probably amount to
SIS 900. It is not yet known, however,
whether these investments will lie included
in the assets of the defunct house.
AL of Mr. KrousEotI's Savannah credit
ors are secured. but his unsecured indebted
ness, which Is mostly for merchandise and
goods from northern and eastern houses.
amounts to between $4,000 aud $4,000
The secured debt is $4,000. including a
mortgage held by the Oglethorpe Savings
and Trust Company for Sl5,5OO on Mr..
Krouskoff's real estate at Drayton and
Bolton streets and lot on Reppard street.
CAUSES OF THE FAILURE.
The reasons assigned for tho failure are
that Mr. hTouskon made a number Of OK
teusive Investments during the year in varl-
GUS companies which are not proving as
valuable as wns anticipated, together with
severe losses sustained by him III business
and the dizziness Of times, caused by the
etringeucy of the money market.
MIR krOuskoh had long been looked upon
as one OF Savanuah's solid merchants. and
the announcement Of his failure IL yester-
days MORNING News was rather in the
nature of q shock to the business commu-
nifty. He hopes to arrange an early and
satisfactory settlement with his creditors IN
order to resume business.
A RECEIVER APPOINTED.
neys for Louis Collat Of this
city and Stearns q Spingarn
and Nathan Wolff OF New York,
went before the superior court yesterday
morning and asked for the appointment OF
a receiver and the issuing of an injunction
against Mr.. Krouskoff TO prevent him from
in any way interfering with his assets
After hearing the petition Judge Falhgaut
appointed Sheriff Roman temporary receiver
to take charge Of Mr.. Krou3koff's assets and
TO hold and dispose Of the same under the
order Of the court for the benefit OF all the
creditors Of the defendant, and also granted
the restraining order as prayed for. The
hearing as TO the appointment of a perma-
Dent receiver will take place Tuesday,
April 90.
SOME OF THE UNSECURED DEBTS.
Besides the 81, 0OO due Stearns 8, Spin
garn, for which they are secured BY a mort
gage on the stock of millinery. Mr.. krcus-
koff is indebted to the firm for geo Is aud
merchandise to the extent Of s., 500 Is, and
TO Nathan Wolf for $3.50 10, neither Of
which debts are secured.
The petitioners allege that as Mr. KrOus-
koti75 unsecured indebtedness foots up
many thousands OF dollars, ana if the stock
Is disposed OF through receivers sale instead
OF at public cutlery, the creditors will re-
ceive better returns and a multiplicity Of
suits Will be avoided.
Another mortgage on the stock in favor
OF the Germauia Bank was filed Yesterday
In the superior court. IL is to secure the
bunk for q note of $3.50 Endorsed by NJ
Sternberg. Mr.. KrouskoH also gave deeds
10 the Merchants National Bank on his
two lots at Drayton and Bolton streets, and
lot on Reppard street, TO secure it for
$1,000 note made by 5. Sternberg and
Endorsed By Mr.. krouskoY and n. Stern
berg, and also to the Citizens Bank, on the
same property, TO secure il for "a draft and
two notes aggregating 5000. These drafts
and notes we're drawn 10y NJ. Sternberg and
Endorsed by Mr.. Krouskoh.
a PRIOR CLAIM on THE REAL ESTATE.
The deeds and mortgages on the real
estate, however, are subject TO the prior
mortgage 10 the DglethOrpe Savings and
Trust Company for SO, 800.
Mr. hrouskoR was surety Of r. /. LII
ienthal, guardian Of Eddie and Florrie
Lilienthal, minors. and as 81 900 was de-
posted with him as security against liaOil-
itY OH the bond, be yesterday. in order to
protect these minors, decided to them lots
Nos A and IS Duncan ward at Wesr B~Oad
and Seventh streets, and one share Of stock
IN the Robinson Steam Printing Company.
A large number of interventfons from the
unsecured creditors are expected TO be fled
in the suit within the next few days,