There were a few occasions when various mining companies in Hidalgo were obliged to issue their own notes.
The first was in February 1914 when because of the difficulty in obtaining notes and coins the companies had trouble in making their weekly payrolls. Several companies agreed to issue vales from 5c upwards, most in a common format. These were gradually withdrawn after a few months when counterfeits appeared and undermined the acceptability of the notes.
The second was in February 1915 when the newly-arrived Carrancistas, under governor Fortunato Maycotte, invalidated the Villista and Convention issues that made up the bulk of the currency in circulation. The mining companies were authorised to issue bearer cheques, this time for amounts greater than one peso.
These issues continued through 1915 because of the difficulties caused by the poor communications between Pachuca and Mexico City, but were withdrawn between December 1915 and February 1916.
The following mining companies issued notes:
La Compañía Metalúrgica de Atotonilco El Chico
La Compañía de Real del Monte y Pachuca
La Negociación San Rafael y Anexas
La Negociación Minera Hacienda Grande, Purisima y Minas de Guadalupe y Anexas
La Compañía Minera y Beneficiadora de Maravillas y San Francisco
La Compañía Explotadora de Minas
La Compañía de Minas la Blanca y Anexas
La Compañía de Santa Gertrudis
Hacienda de Beneficio "San Diego"
The Hidalgo Copper Mining & Smelting Company
Compañía Minera y Fundidora de Zimapan