The monument is dedicated to the heroic death of the destroyer Steregushchy in the battle of the Russo-Japanese War. The monument depicts a part of the hull of the ship and two sailors who, according to legend, opened the kingstons and flooded the ship so that the enemy couldn’t get it.
This is the only St.Petersburg monument in the Art Nouveau style and the last, built before the revolution.
In the early 1930's and from 1947 to 1971, the monument also served as a fountain: water was supplied through the open kingston. Then the fountain was turned off, as the water was destroying the sculpture.