El Banco de Nuevo León

Banco de Nuevo Leon

On 5 August 1891 the Secretario de Hacienda agreed a contract with Francisco Olivares and Manuel Peniche, representing a group of local investorsthe most prominent were Evaristo Madero who contributed $260,000, Marcelino Garza ($50,000), General Gerónimo Treviño ($30,000), Rómulo Larralde ($25,000) and Viviano L. Villarreal ($24,000), to establish a bank of issue in Monterrey with a capital of $600,000 and the right to set up branches in Nuevo León, Coahuila and Tamaulipas. The bank began operations on 1 October 1892 at 17 calle del Comercio (today Morelos).

As a consequence of the Ley General de Instituciones de Crédito of 1897 the bank entered into a new concession, which was approved by Congress on 22 November 1897.

The bank paid very good dividends to its shareholders: 12% in 1897 and 15% each year from 1899 through to 1911, with one exception, 14% in 1905.

American Bank Note Company print runs

Antonio V. Hernández was commissioned by the board to contact the American Bank Note Company regarding the printing of notes The board determined to issue notes of $1, $2, $5, $10, $20, $50, $100 and $500, up to the stipulated maximum of $1,800,000, though in fact the $2 note was never produced. Hernández left for New York on 30 April 1892 and returned on 11 June.

The American Bank Note Company engraved special vignettes of Ignacio Zaragoza (C 193), the arms of Monterrey (C 477), a view of Monterrey (C476) and of a river and mountain (the Santa Catarina river and Cerro de la Silla) (C 475).

Date Value Number Series from to
June 1892 $1 50,000   00001 50000
$5 20,000   00001 20000
$10 20,000   00001 20000
$20 10,000   00001 10000
$50 3,000   00001 3000
$100 1,500   0001 1500
$500 100   1 100

 

Date Value Number Series from to
March 1894 $5 20,000   20001 40000
$10 10,000   20001 30000
$20 5,000   10001 15000
$50 4,000   3001 7000
$100 2,500   1501 4000
$500 300   101 400

 

For the next printing the title "El Cajero" was changed to "El Gerente".

Date Value Number Series from to
May 1899 $5 80,000   40001 120000
$10 30,000   30001 60000
$20 10,000   15001 25000
$50 2,000   7001 9000
$100 2,000   4001 6000
$500 600   401 1000

 

For the next printing the dateline "Monterrey ______18__" was changed to "Monterrey ______19__" .

Nuevo Leon 5 specimen

Nuevo Leon 5 specimen reverse

Nuevo Leon 10 specimen

Nuevo Leon 10 specimen reverse

Nuevo Leon 20 specimen

Nuevo Leon 20 specimen reverse

Nuevo Leon 50 specimen

Nuevo Leon 50 specimen reverse

Nuevo Leon 100 specimen

Nuevo Leon 100 specimen reverse

Nuevo Leon 500 specimen

Nuevo Leon 500 specimen reverse

Date Value Number Series from to
December 1902 $5 120,000   120001 240000
$10 60,000   60001 120000
$20 20,000   25001 45000
$50 4,000   9001 13000
$100 2,000   6001 8000

 

Date Value Number Series from to
November 1909 $5 64,000   240001 304000
$10 24,000   120001 144000
$20 7,500   45001 52500
$50 6,000   13001 19000
$100 3,200   8001 11200
$500 340   1001 1340

 

Date Value Number Series from to
September 1912 $5 64,000   304001 368000
$10 24,000   144001 168000
$20 7,500   52501 60000
$50 6,000   19001 25000
$100 3,200   11201 14400
$500 340   1341 1680

 

When Huerta allowed banks to issue $1 and $2 notes the Banco de Nuevo León, since it had received $1 notes from the ABNC in the past, ordered a new batch,wth "El Cajero' altered to "El Gerente" and the dateline changed to 19__.

Nuevo Leon 1 specimen

Nuevo Leon 1 specimen reverse

Date Value Number Series from to
December 1913 $1 50,000   50001 100000

 

The bank orderedthe bank later claimed that it had only asked for a quotation, but that the ABNC made a mistake and printed the notes (ABNC, letter to Charles Blackmore, Resident Agent, Mexico City, 3 April 1916) another 50,000 $1 notes in May 1914 but these were never delivered and destroyed in October 1924. 

Date Value Number Series from to
May 1914 $1 50,000   100001 150000

Signatories

Interventor

Benigno Guerrero

Guerrero was appointed Interventor on 18 August 1892.

sig Benigno
  sig Interventor 2
Luis G. Camacho was appointed interventor on 28 August 1898CEHM, Fondo CDLIV Colección José Y. Limantour, 1a. 1883, carpeta 9, legajo 2359. sig Camacho
Juan J. Farías sig Farias
Jeronimo Treviño Galindo sig Trevino
Javier Larrea sig Larrea

Presidente

Viviano VillarrealViviano L. Villarreal y González was a stock-holder in many industrial and mining firms as well as a practicing lawyer and a politician who was governor of Nuevo León on two occasions.

He was born in San Nicolás Hidalgo, Nuevo León on 2 December 1838, the son of a powerful landowner. After studying law he served as a judge and a deputy in the local congress. He was then Secretario General during the governorship of Jerónimo Treviño and became governor himself on 4 October 1879, taking over from Genaro Garza García, and handing it over to Garza García on 4 October 1881. Thirty years later, at the beginning of the Revolution, Villarreal, who was a supporter of Madero, was chosen governor for 1911 to 1915 but resigned after Madero’s assassination.

He died in Monterrey on 24 September 1938, at the age of 100.

He was the brother of Felicitos Villarreal, secretary of the treasury under the Convention, in 1914-1915.

sig Villareal
Constantino de Tárnava sig Tarnova
Francisco Armendariz sig Armendariz
Evaristo Madero  
Marcelino Garza was a businessman from Saltillo who controlled the Compañía Industrial Saltillera, associated with Evaristo Madero’s Compañía Industrial de Parras in the Compañia Industrial del Norte, S. A. sig Garza

 Cajero

Andres Martinez Cardenas  sig Cardenas
Amador Paz  sig Paz
  sig Cajero

Gerente

Ernesto MaderoErnesto Madero took over as managing director on 10 September 1899 and left on 9 July 1908.

Madero was from the powerful, regional Madero family He was born in Parras, Coahuila on 12 October 1872, the son of Evaristo Madero and uncle of the future president, Franciso I. Madero. He was a businessman and large landowner and served as  Secretario de Hacienda from 26 May 1911 until 18 February 1913.

After the decena trágica he fled to the United States. He died in Mexico City on 2 February 1958.

sig Madero
Rodolfo J. García took over as managing director on 9 July 1908 but resigned in January 1911, supposedly for reasons of health. In fact he had learnt that Enrique Martínez Sobral, Jefe del Departamento de Crédito y Comercio of the local Secretaría de Hacienda, was going to take over the bank’s management, though on learning of the intrigue Sobral declined the invitation. However, Javier Larrea, the Interventor, then took over. Larrea was forced to resign as manager on 22 May 1911, following the fall of Porfirio Díaz, and García took over but resigned on 2 October 1911 when he assumed the office of Primero Magistrato Municipal. sig Garcia
Rodolfo M. Garza sig Gerente

Marcelino Garza

see in Presidente above

sig Garza

 Other personages

Antonio V. Hernández was the bank’s first manager. He left the bank on 31 August 1899 after certain disagreements and went to work for the Banco Mercantil de Monterrey.