El Banco Mercantil de Monterrey
This bank opened its doors on 6 December 1899. The concession[text needed] had been sought by Enrique C. Creel and Tomás Mendirichaga on 19 May 1899 and approved by President Díaz on 14 October.
The bank's capital was originally $500,000 but increased in November 1899, before opening, to $2,500,000. The Presidente was Tomás Mendirichaga and other officers were Enrique C. Creel, Mariano Hernández y Mendirichaga, L. González Treviño and V. Rivero y Gajá, José A. Muguerza, Francisco G. Sada and José L. Garza. The board named Antonio V. Hernández manager, José L. Garza contador and Enrique Miguel cajero.
American Bank Note Company print runs
The American Bank Note Company produced the following notes. It engraved several special vignettes: a portrait of Mariano Escobedo (C232) for all the faces, a mountain peak (C 717) for the $5 note, the Estación del Golfo railway station in Monterrey (C 721) for the $10, the cathedral in Monterrey (C 720) for the $20, the theatre in Monterrey (C 722) for the $50, the Municipal Palace (C 718) for the $100 and the Government Palace (C 724) for the $500.
The original plates had the titles "Gerente", "Presidente" and "Interventor del Gobierno" and the text included "EN MONEDA DE PLATA".
|October 1899||$5||70,000||A-G||1||70000||Series changed every 10,000 notes|
|$10||35,000||H-N||1||35000||Series changed every 5,000 notes|
|$20||20,000||O-R||1||20000||Series changed every 5,000 notes|
||8,000||S-V||1||12000||Series changed every 2,000 notes|
||2,500||W-Y||1||2500||Series changed every 1,000 notes|
For the subsequent runs the title "Presidente" was altered to "Consejero", the text to "EN MONEDA CORRIENTE" and "Monterrey" and "19" erased.
|June 1906||$5||40,000||H-K||70001||111000||Series changed every 10,000 notes|
|$10||30,000||O-Q||35001||65000||Series changed every 10,000 notes|
|$20||20,000||S-T||20001||40000||Series changed every 10,000 notes|
||10,000||W-X||8001||18800||Series changed every 5,000 notes|
|July 1910||$5||60,000||L-Q||111000||170000||Series changed every 10,000 notes|
|$10||20,000||R-S||65001||85000||Series changed every 10,000 notes|
In April 1914 the ABNC produced the following notes. However, they were never delivered and were all destroyed in October 1924.
||$5||70,000||R-Y||170000||240000||Series changed every 10,000 notes|
|$10||50,000||T-Y||85001||135000||Series changed every 10,000 notes|
|$20||30,000||T-V||25001||55000||Series changed every 10,000 notes|
|$50||12,000||X-Z||10001||22000||Series changed every 5,000 notes|
Antonio V. Hernández was the first manager of the Banco de Nuevo León. He left that bank on 31 August 1899 after certain disagreements and went to work for the Banco Mercantil de Monterrey. He resigned on 28 February 1904 for personal reasons.
|José L. Garza was in the beginning the bank's accountant (contador).|
Manuel G. Rivero was the bank's first Interventor.
Rivero gave up his office in February 1901 and was followed by Bernando Reyes, hijoinforme of Interventor Bernando Reyes, hijo, 22 July 1901 Memorias de las Instituciones de Crédito correspondientes á los años 1900-1902, vol. I.
Manuel F. Gómez
Gómez took over from C, Madrigal on 9 September 1903informe of Interventor Gómez, 18 January 1904 Memorias de las Instituciones de Crédito correspondientes al año 1903
|V. Rivero y Gaja|
|José A. Muguerza|
|Francisco G. Sada|
The bank refused to produce its documents to Carranza's Comisión Reguladora e Inspectora de Instituciones de Crédito but the commission based its decision on the balance dated 31 December 1915, which showed that it did not comply with the Ley General, and so, on 8 March 1916, the commission nullified the bank's concession.
Somone who was a bank teller in Brownsville, Texas, from 1912 until his bank failed in 1929 reported that after the Mexican banks closed in 1916 the American banks, along the border at least, continued to honour Banco Nacional and Banco Mercantil de Monterrey notes for quite a lengthy time afterwards. Apparently the banks had built up quite healthy credits in American funds in various banks on the American side. The Brownsville banks forwarded the banknotes to Laredo for collection and continued to do this until the Laredo bank notified them that funds were finally exhaustedletter R. O. Bork, 10 September 1972.
Under Obregón's decree of 31 January 1921 the bank was placed into Class A (for banks whose assets were greater than their liabilities) and allowed to resume all customary operations except the issue of bank notes.