El Banco de Jalisco

On 26 July 1898 Ramón Alcázar, representing himself and a group of leading businessmen (Manuel, Justo and Francisco de Paula Fernández del Valle, Antonio Gas, José S. García, Manuel L. Corcuera, Fortoul Chapuy y Compañía, Francisco Martínez Negrete é hijos and Moreno Hermanos), signed an agreement with the Secretaría de Hacienda to establish a bank of issue in Guadalajara.

The first board consisted of Justo Fernández del Valle as Presidente, Francisco M. Martínez Negrete as Vicepresidente, José Lauro García as primer vocal, Manuel L. Corcuera as Segundo vocal and Antonio Gas as tercero vocalEl Popular, 26 June 1898. A more substantive board had been formed by November, with Justo Fernández del Valle also acting as manager until a definite appointment was madeEl Popular, Año II, Núm. 634, 8 October 1898. The full line-up was Vocales propietarios: Diego Moreno, Justo Fernández del Valle, Antonio Gas, José L. García and Manuel Corcuera; Vocales Suplentes: Manuel Fernández del Valle, Francisco Martínez Negrete and D. Luis Fortoúl; Comisarios: Francisco de P. Fernández del Valle and. Ramón Alcazar.

The bank opened for business on 28 November 1898La Voz de México, 29 November 1898: Semana Mercantil, 2 January 1899 in a building on the calle López CotillaLa Patria, 1 December 1898. At first the bank’s notes had difficulty circulating because the already-established branches of the Banco Nacional de México and Banco de Londres y México refused to accept themLa Patria, 28 December 1898{/foornote}.

On 15 November 1899 the board approved the establishment of a branch in TepicEl Contemporaneo, San Luis Potosí, 25 November 1899, the Secretaría de Hacienda gave its approval on 28 December and the branch was opened at the beginning of March 1900La Patria, 27 February 1900.

On 2 June 1900 the Secretaría de Hacienda authorised the bank to open a branch in Colima but because of staffing difficulties the bank had to ask for two separate extensions and the branch was never opened. On 24 August 1901 the Secretaría de Hacienda authorised the bank to open a branch in Zamora, Michoacán. Finally, a branch was established in Ciudad Guzmán (Zapotlán) on 31 March 1903letter of interventor Gómez y Velasco, 31 March 1903, in Memorias de las Instituciones de Crédito correspondiente al año 1903.