The business was started more than forty years prior to its failure by New York Supreme Court justice Henry Bischoff (1827–1902).
[1] Aside from banking deposits, the company maintained a significant trade in selling of steamship tickets to people traveling overseas.
[1] This location served as a workplace for customs house brokers and forwarders and receivers of money on deposit for safekeeping.
At the time of its failure, the financial institution had 1,000 depositors with deposits in the amount of $360,000, secured by a surety bond of $100,000.
[3] A receiver, Maurice Delches, was appointed by New York Supreme Court justice Charles L. Guy, on January 10, 1914.