CROESUS CAPITAL MANAGEMENT CORP
13F-HR, 2000-02-14
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                       UNITED STATES
                      SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                  FORM 13F

                            FORM 13F COVER PAGE

Report for the Calendar Year or Quarter Ended: December 31, 1999

Check here if Amendment [  ]; Amendment Number:
This amendment (Check only one.): [ ] is a restatement.
                                  [ ] adds new holdings entries.

Institutional Investment Manager Filing this Report:
Name:     CROESUS CAPITAL MANAGEMENT COR
Address:  12 E. 49TH ST.
          NEW YORK, N.Y. 10017

13 File Number: 28-4772

The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person
signing the report is authorized to submit it, that all
information contained herein is true, correct, and complete, and
and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of
this form


Person Signing this Report on Behalf of Reporting Manager:

Name:      RICHARD F. PITONZO
Title:
Phone:
Signature, Place and Date of Signing:

    RICHARD F. PITONZO  February 10, 2000


Report Type (Check only one.):
[ X]        13F HOLDINGS REPORT.
[  ]        13F NOTICE.
[  ]        13F COMBINATION REPORT.


I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934
<PAGE>
                           FORM 13F SUMMARY PAGE


Report Summary:

Number of Other Included Managers:         0

Form 13F Information Table Entry Total:    2

Form 13F Information Table Value Total:    516



<PAGE>
<TABLE>                          <C>                                            <C>
                                                                FORM 13F INFORMATION TABLE
                                                              VALUE   SHARES/ SH/ PUT/ INVSTMT   OTHER        VOTING AUTHORITY
           NAME OF ISSUER        TITLE OF CLASS     CUSIP   x($1000) PRN AMT  PRN CALL DISCRETN MANAGERS   SOLE    SHARED    NONE
  ------------------------------ ---------------- --------- -------- -------- --- ---- -------- --------- -------- -------- --------
D AO TATNEFT USD SPON ADR REG S  ADRS STOCKS      03737P306      261    27500 SH       SOLE                  27500        0        0
D ROSTELECOM SPONSORED ADR       ADRS STOCKS      778529107      255    15000 SH       SOLE                  15000        0        0
S REPORT SUMMARY                  2 DATA RECORDS                 516        0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
</TABLE>


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