El Banco Mercantil Mexicano
This bank was authorised[text needed] by federal charter on 3 December 1881 and began operations on 27 March 1882The Two Republics, 30 March 1882.
American Bank Note Company print runs
The American Bank Note Company produced the following notes. They produced a special vignette of a statue of Columbus (C 139).
The 1881 print states 'pagará en la Ciudad de México' but this was changed for the 1882 run to 'pagará en la Ciudad de _______' so that the notes could be issued by the branches.
|November 1881||$1||10,000||A||1||10000||with 'pagará en la Ciudad de México'
|February 1882||$5||30,000||A||100001||130000||with 'pagará en la Ciudad de ______'|
|June 1882||$1||25,000||A||10001||35000||with 'pagará en la Ciudad de México'|
|$1||12,500||A||35001||47500||with 'pagará en la Ciudad de ______'|
The ABNC reprinted one $1,000 note (A 1501) in April 1882 to replace a missing banknote at the bank's request. The original was then presented, untrimmed and with forged signatures, to the bank and the person arrested. It was thought to have been stolen in the Veracruz Customs HouseABNC letter F. G. Mead, agent, Mexico City to ABNC, 12 May 1884.
Presidente de Consejo
|José Gargollo was a Spaniard, a director of Diligencias Generales and member of the Convención Española.|
|Bénito Arena Bermejillo|
|Genaro de la Fuente|
|José V. del Collado|
The bank opened branches in various states, having made agreements that gave it favourable tax treatment and regulated the use of its notes within the state. These notes had the name of the branch handwritten in and also had a more visible overprint.
The state executive agreed a contract with Toribio Bracho, representing the bank, on 31 March 1882 La Voz de Mexico, 27 October 1882 and it was expected to open at the end of the yearEl Siglo Diez y Nueve, 30 October 1882.
The state government agreed a contract with the bank on 10 February 1882El Siglo Diez y Nueve, 13 May 1882 and the branch opened on 1 November 1882.
In November 1881 it was reported that the bank would open a branch in LeónEl Siglo Diez y Nueve, 28 November 1881; El Diario del Hogar, 1 December 1881.
On 2 August 1882, Francisco Ogarrio, representing the state of Yucatán, and José V. Collado, for the bank, agreed a contract to open a branch in Yucatán. The contract allowed the bank to issue banknotes which would be accepted as legal tender in all payments to the state and municipalities with the bank obliged to redeem them in cash at the bank’s branch. The contract was approved by the state’s Congress on 30 SeptemberEl Siglo Diez y Nueve, 25 October 1882; La Oposicion Radical, Año I, Tomo I, Núm. 98, 30 September 1882 but lapsed without a branch being established.
The branch opened on 1 August 1882. The director was Mariano F. Pasquel, a member of an ancient and moneyed family with links to Veracruz and Mexico City, and the cajero J. M. Pérez DîazEl Foro, 3 August 1882.
The branch opened on 15 August 1882 with Luis Rivera MacGregor in chargeEl Foro, 15 August 1882; La Sombra de Arteaga, Año XV, Núm. 22, 27 August 1882.
On 7 March 1882 the bank entered into a contract with the state of Coahuila to establish a branch in Saltillo and agencies in other towns. The government would accept the bank’s notes to the exclusion of any other bank which did not have branches and cashed its notes for hard currencyEl Siglo Diez y Nueve, 22 May 1882.
The branch opened on 8 October 1882.
San Luis Potosí
In July 1882 the state government authorised the bank to set up a branches in Tampico and elsewhereLa Patria, 26 July 1882.
The branch opened on 20 May 1882 with A. F. Grinda as director and Ramón Herrera as cajeroEl Foro, 24 May 1882.
In August 1882 the firm of Kimball y Albordi y sócios applied to establish a branch of the bank in ZacatecasLa Voz de Mexico, 3 August 1882.