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Withdrawals and incinerations

In 1908 the bank gave up its rights as a bank of issue and converted into a banco refaccionario. The bank quickly withdrew the notes in circulation. Holders of notes in Mérida, Yucatán, could hand them in at the local branch of the Banco Nacional de MéxicoDiario Oficial, Yucatán, Año XI, Núm. 3328, 9 October 1908 and on 30 October the bank agreed with the Banco Nacional de México for the latter to handle the withdrawal{footnote}Periódico Oficial, Año XXVII, Núm. 1884, 16 March 1909: Diario Oficial, Yucatán, Año XII, Núm. 3475, 31 March 1909.

The whole of the second ABNC print run of $1,500,000 was incinerated on 9 April 1909informe of Interventor Gual, 8 July 1909, in Memoria de las Instituciones de Crédito correspondiente al año 1909, vol. 1.

In addition, we have records of the following incinerations for the first print run.

Date Acta $5 $10 $20 $50 $100 Total number Total value
$
28 September 1908Memoria de las Instituciones de Crédito correspondiente al año 1908, tomo II   18,844 3,066 391 694 521 23,516 219,500
by 31 December  1908               6,000
9 April 1909informe of Interventor Gual, 8 July 1909 in Memoria de las Instituciones de Crédito correspondiente al año 1909, vol. 1               100,000withdrawn from issue
  10,000           480,000never issued
6 May - 29 June 1909informe of Interventor Gual, 8 July 1909 in Memoria de las Instituciones de Crédito correspondiente al año 1909, vol. 1               471,260
7 July - 31 August 1909Notes that had been kept in the caja de intervención (informe of Interventor Gual, 11 January 1910 in Memoria de las Instituciones de Crédito correspondiente al año 1909, vol. 1)               114,240
11 August 1909Notes from the Banco Nacional de México (informe of Interventor Gual, 11 January 1910 in Memoria de las Instituciones de Crédito correspondiente al año 1909, vol. 1)               18,630

 

Thus of the $1,500,000 in the first print run $1,409,650 had been destroyed by August 1909. By May 1914, when the liabilities had passed to the Banco Nacional de México, $6,725 remained outstanding.