New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1899-09-17

Tho han<ruptcv 81 DERIVES. says the -
Petersburg correspondent 81 tho "BerIlnor lag
biatt" may have serious effects on the minus
tries of Russia. since the immense cap''"' %
this firm was leading factor in many "''7'
widely diverse undertakings. Sn"ud inc "
WIGS enterprises be finally iiqudated ih'us""D'
or ,l.rs. and vorlmcn would Doc thrown ou' or
work 1t is Of interest 20 not" the origin anu
history Of this vast property. ITS cornerstone
was the Moscow Riasani-J raljsk Railroad ANU
its branch lines. winch were built by the father
Of the recently bankruptel DERIVES ana drought
him, in his first 3OOOOOo0 rubes Closely con-
nected with this undertaking was vast
fleet plying on the Volga and the Caspian sea.
4 great steamship line on the Nolga. which had
been founded in 1Sl3 was practically IN bank
rurtcv when IL fell into Derwies's hands and
aourisbing under his management became a
prosperous enterprise. In order to make his own
engine. he established great machine SHOP
and soon afterward the largest cement manu-
factory IN Russia and an insurance company
Later DERIVES started great oil business III
Raku another big railroad line, and finally
great bank Of his own which financed all these
undertakings and made large prohts All THESE
gigantic enterprises were governed by and de-
ucndcnt on one mans wifi. one concern sup
ported another. one afforded employment ana
profits to another. Thus this mighty group OF
diverse business enterprises. probably unique in
the whole Of Europe all I'm the hands or one
man. each protecting and reinforcing the others
seemed to be safe from all danger so long as
all were managed with one purpose and on
sound basic.
When the elder DERIVES died the property
ne left amounted to 100000 rubles or
SGO.0O0OOO half Of which went to his son Paul
and the other half was divided between his
widow Wiera Nikoajewna and the younger
son. Sfergiei Paulowitch Won DERIVES. A large
mart Of these two shares may have remained
/ involved in the mass Of Paul Derwies's affairs
and may have gone 10 ruin with them. Yet
Wjera Nlkojewna and Sfergie DERIVES stu
/ possess property valued at many millions that
was otherwise invested and is not affected by
the failure
Paul DERIVES the younger knew absolutely
nothing about the business and the colossal or
ganization that he suddenly put at the
head Of AS Junior officer OF the Guards with
! an income Of. say 81. 125 900 a year, ne had no
. other interests than for horses and dissipation.
| and was quite satisfied that he had found for the
| management Of his colossal estate an energetic
and careful agent, according TO all appearances
in the person OF Colonel Andrei Alexandrowitch
Pomeranzew. So he thought ne had no need to
bother himself about It personally. Handsome
! Paul lived only for his pleasures and let Pom
eranzew manage the business according to his
! own ideas In Moscow young DERIVES became
! so enamoured Of one Of his flames that he mar
ried her. This episode had serious results The
| young husband one day found in Nine. Der
WEISS conduct cause for separating from her.
He took the affair by no means tragcaily on the
contrary. he was glad to be free Of the lady. and,
| had her
1nc0O0O rubles in cash and sent her on her way.
! The unpleasant experience, however, had its
effect on Dcrwies's mental condition. H. closed
his splendid St Petersburg palace the Eng
! ush ouay with the famous ceilings by MakoW-
| ski for which the artist received the pretty sum
| 81 100000 rubles and betoOk himself to his
| magnificent country seat Staroehiowo where
! the farming operations brought in annual
! deficit II 2UNOOO rubes Here the millionaire
| lived only for his horses. The stable In stare
shnowo is said to be- a palace
In the mean time Pomeranzew was managing
| the millions and at first undoubtedly with the
greatest success Many new enterprises were
| started in which Pomeranzew invested DERIVES
! capital In the financial circles ~ -. Peters
! burg the manager Of the DERIVES estate was
! held in the highest esteem on account Of his
| enormous capacity for work and the great com
pass Of his knowledge The whole Of the Sigan-
| tic group Of Industries controlled by DERIVES ne
! managed with a firm hand. and there is no doubt
that AT first notwithstanding the enormous ex-
| travagances Of the possessor Of the fortune. the
fortune grew For twelve years PomeranzeN
| stood admired envled and hated. at the head OF
this business which every one supposed TO be-
fin the most perfect condition.
Like n thunderhot from a clear sky. there
fore came the news the other day that DERIVES
,ould not honor a draft for luo~" rubles The
millionaire was Immediately summoned To- ST
Petersburg and receiver was appointed 10
examine his affairs Pomcranzcv vas removed
from his po-t-in the opinion of many people a
haety and III considered step. FOR no one else