La Compañía de Santa Gertrudis

Santa Gertrudis

The original Santa Gertrudis was denounced in 1874.

1914 issue

When the various mining companies received permission to issue vales, the Compañía de Santa Gertrudis subscribed for  $35,000.00, a figure based on its requirements for four weeksAHMM, Fondo Norteamericano, vol. 41, exp. 15, Dirección General, Correspondencia, Mar 1913 – Nov 1914 Weekly Gossip letter.

Colección Numismática Banxico #4429

  Date of issue Date on note from to Value
5c after 21 February 1914 2 February 1914      
10c      
20c      
$1      
           

 

The company put its vales into circulation as soon as they received them and they started circulating on 19 FebruaryEl Imparcial, 19 February 1914. On the first day the local Oficina del Timbre served notice that they would be fined 40 centavos for each vale issued, irrespective of its denomination, in conformity with the stamp law which stated that all cheques of denominations less than $100 would necessarily carry four centavos in revenue stamps, with a fine ten times this amount. They also started to cause great lack of confidence by announcing that the holders of vales would be prosecuted. The matter was taken up with the governor who wired immediately to Mexico City, following which the local office was promptly wired to keep out of controversy with mining companies over vales issued without stamps; that they had been proceeding exactly according to instructions received from the Government and were not to be molested in any wayAHMM, Fondo Norteamericano, vol. 41, exp. 15, Dirección General, Correspondencia, Mar 1913 – Nov 1914 weekly gossip letter 17 February 1914.

The Santa Gertrudis and other companies while admitting that the workmanship of the vales was inferior felt that they would be difficult to duplicate and that they would serve the purposeAHMM, Fondo Norteamericano, vol. 41, exp. 15, Dirección General, Correspondencia, Mar 1913 – Nov 1914 Weekly Gossip letter. However, on 15 June it was reported that  a number of crude counterfeit 50c and $1 Santa Gertrudis notes had been circulating. The company posted notices warning the public and asked the District Judge to take action though the latter was reluctant because of the question of the validity of the vales.AHMM, Fondo Norteamericano, vol. 41, exp. 15, Dirección General, Correspondencia, Mar 1913 – Nov 1914 letter G. C. García to D. S. Calland, Boston 15 June 1914.

The Santa Gertrudis company, like the others with the exception of the Compañía Minera y Beneficiadora Maravillas y San Francisco whose vales were different, decided to withdraw their 50c and $1 notesAHMM Fondo Norteamericano, vol. 41, exp. 15, Dirección General, Correspondencia, Mar 1913 – Nov 1914. It was announced that they would cease circulating and be withdrawn on 8 JulyEl Imparcial, Tomo XXXVI, Núm. 6498, 5 July 1914. By agreement with the other companies, the 5c, 10c and 20c vales continued in circulation until further notice, but as all the plates were the same, they expected the counterfeiters to move on to the other denominationsAHMM, Fondo Norteamericano, vol. 41, exp. 15, Dirección General, Correspondencia, Mar 1913 – Nov 1914.

1915 issue

On 2 March 1915 accidental governor Coronel José L. Aguilar agreed to a request from the Compañía de Santa Gertrudis S.A. y Beneficiadora de Pachuca, S.A. to issue $70,000.00 in vales of 20c and 50c, without revenue stampsAGN, Fondo Gobernación Periodo Revolucionario, caja 93, exp. 36, folletos 8 Secretario general L. de la Vega to [    ], Pachuca, 20 August 1915. We know of the 20c note, dated 1 March 1915.

There was also a series of cheques al portador, dated from March 1915 to [        ]1915, drawn on the Banco Mexicano de Comercio e Industria, for $1, $2, $5, $10 and $20. The fact that the $2 was Series E shows that it was a later addition to the original proposal.

Gertrudis 1 2

Gertrudis 1 2 reverse

Gertrudis 2 2

Gertrudis 2 2 reverse

Gertrudis 5 2

Gertrudis 5 2 reverse

Gertrudis 10 2

Gertrudis 10 2 reverse

  Date on note Series from to Value
$1 22 March 1915 A      
26 April 1915      
24 May 1915      
$2 19  April 1915 E      
1 June 1915      
$5 22 March 1915 B 00001    
$10 22 March 1915 C 00001    
$20 10 June 1915 D      
          $70,000or may be $80,000

 

In late April it was reported that the Compañía Minera de Santa Gertrudis, with the support of local busineseses and with Obegrón’s authorisation, had issued $80,000 in cartones, guaranteed by bars of silver. These were well received but the following day the Jefe de las Armas in Pachuca had ordered that they been withdrawn and substituted by others of forced circulation and with a similar guarantee to the Veracruz Gobierno Provisional notes. This caused public outrage. Small traders picked up their goods and took them home. Later groups of women and boys marched through the streets with ‘gritos’ and ‘mueras’. The soldiers tried to break up the demonstration and, when they responded by throwing stones, opened fire. The cavalry was brought in and order finally restored at midnight, after several deaths and many injuredEl Norte, México, Tomo I, Núm. 8, 29 April 1915. . It should be emphasised that theprotest was against the government's vales and in favour of the Santa Gertrudis issue.

On 9 September the Secretaría de Gobernación stated that since this 1915 issue of $70,000 had not been authorized by the Primera Jefatura the government should grant the company a prudent length of time to withdraw the notesAGN, Fondo Gobernación Periodo Revolucionario, caja 93, exp. 36, folletos 8.