El Banco de Guerrero

A federal concession for a bank in Guerrero was granted on 30 September 1903, but the promoters had difficulty in raising the necesary finance and had to ask for extensions to the time-limit and a reduction in the capital required. The first bank did not actually open until three years later.

In March 1906 a meeting of shareholders was called to choose a Consejo de Administración in Iguala, a Consejo Consultivo based in Mexico City, and two comisarios. The board was composed of Antonio Lavín, Guillermo Mastache and Cándido Nava; the consejo consultivo of Ricardo Honey, Emilio Velasco, Porifirio Díaz (hijo), Joaquín Eguía and Tomás P. Honey, and the comisarios were A. Lozano R. y Enrique Carral. Rogerio L. Hersberger was appointed director and Eduardo W. Dawe, cajero contador.

The bank opened in Iguala, the only town in Guerrero with a rail link to Mexico City, on 2 July 1906 with its offices in the Hotel Universal.

Branch offices were opened in Acapulco and Bravos (Chilpancingo).

Following an investigation by the Comisión Reguladora e Inspectora de Instituciones de Crédito the bank's charter was cancelled on 15 December 1915.

Under Obregón decree of 31 January 1921 the bank was placed into Class B (for banks whose assets and liabilities were about equal and which were given a short time in which to obtain the necessary funds to resume) and allowed to resume all customary operations except the issue of bank notes. The bank was finally liquidated in 1921.

American Bank Note Company print runs

The American Bank Note Company produced the following notes. They engraved special vignettes of Vicente Guerrero Saldana (C 280) for the faces, of the church at Taxco (C 942) for the $100 note, and of a view of Acapulco for the reverses.

Guerrero 5 A 35379

Guerrero 5 A 35379 reverse

 Guerrero 50 A 03001

Guerrero 100 A 1470

Guerrero 500 specimen

Date Value Number Series from to
June 1904 $5 40,000 A 00001 40000
$10 20,000 A 00001 20000
$20 15,000 A 00001 15000
$50 10,000 A 00001 10000
$100 2,000 A 0001 2000
$500 200 A 1 200


When the ABNC produced another run of notes at the beginning of 1914 they altered the dateline on the plates from "Iguala__de_____de 190_" to "Iguala__de_____de19__" .

Guerrero 10 B 29390

Guerrero 20 B 18914

Date Value Number Series from to
February 1914 $5 50,000 B 40001 90000
$10 25,000 B 20001 45000
$20 15,000 B 15001 30000
$50 10,000 B 10001 20000
$100 7,000 B 2001 9000



RogerioRodrigo according to the report of the interventor, 20 January 1907 (Memoria de las Instituciones de Crédito correspondiente a los años de 1904-1906, tomo I, vol. II) G.Hershberger was the first manager but resigned in early October 1906, after just four monthsreport of the interventor, 20 January 1907, Memoria de las Instituciones de Crédito correspondiente a los años de 1904-1906, tomo I, vol. II. sig Herschberger
Ignacio Olea Daza sig Daza


Cándido Nava sig Nava
Emilio Velasco sig E 1906
Thomas P. Honey sig T Honey
Richard HoneyRicardo (Richard) Honey emigrated from Cornwall, England to Pachuca, Hidalgo in 1862 at the age of twenty-three. He bought an iron mine in Ixmiquilpan, and established a mine in Pachuca. He built the first iron bridge in Mexico, which crossed the river Tula in Tasquillo. Honey was incredibly successful and used his riches to purchase more iron mines, at La Encarnación, near to Zimapán, 75 kilometres north-east of Pachuca. He also acquired various smelters.
Honey married Emma Jane Phillips, another Cornish immigrant and had four sons and five daughters. His main residence was in Mexico City, where he founded the Jockey Club. He also founded the Reforma Athletic Club in Pachuca.
During an illustrious career Honey was the president of three banks, an iron and steel works, two mining companies, a paint factory and was a director of two railway companies, the Ferrocarril Nacional Mexicano and the Ferrocarril de Pachuca-Tampico.
Honey was known for the treatment of his workers, including always paying 25 centavos a day when the minimum wage was 18 centavos, and his humanitarian efforts to help the indigenous population.
Unfortunately, some of Honey’s investments ultimately failed, the revolution increased his misfortunes and he died on 12 June 1913 practically penniless.
sig R Honey

Porfirio Diaz hijoPorfirio Díaz, hijo

Porfirio Díaz hijo was involved in the Banco Internacional e Hipotecario de México, the Banco de Hidalgo, Ferrocarril de Veracruz al Istmo, Compañía Manufacturera de Cigarros el Buen Tono, Compañía Irrigadora y Eléctrica en el Estado de Hidalgo, and Fábricas de Papel San Rafael.

sig Diaz
Antonio Lavín sig Lavin


Luis de la Canal y Gual was the Inspector General de Instituciones de Crédito who signed the bank's notes and presided at its inauguration on 2 July 1906, but by the end of that year Miguel Montúfar had been appointed Interventor. sig Interventor 1906

Jorge Berriozabal

Jorge Berriozal was the grandson of General Felipe B. Berriozal, a Mexican hero.

sig Berriozabal

Other personnel

Ricardo Buen Abad was manager (gerente) from