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 investors^{the 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.

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. The bank was finally liquidated in 1930.

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 ordered^{the 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.
M. Otero
Luis G. Camacho was appointed interventor on 28 August 1898^{CEHM, Fondo CDLIV Colección José Y. Limantour, 1a. 1883, carpeta 9, legajo 2359}.
Juan J. Farías
Jeronimo Treviño Galindo
Javier Larrea

Presidente

Viviano 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.
Constantino de Tárnava
Francisco Armendariz
Evaristo Madero Evaristo Madero and his sons were the largest producers of guayule, a raw material for crude rubber, in Mexico. They had banking businesses such as in the Banco Central Mexicano, Banco Mercantil de Monterrey, Banco de Nuevo León, and Banco de La Laguna, as well as industrial companies such as the Compañía Industrial Jabonera de La Laguna, Compañía Nacional Explotadora de Carbón y Coke, La Estrella, Hilados y Estampados, Compañía Fundidora de Fierro y Acero de Monterrey, and the Compañía Metalúrgica de Torreón. Their mining companies included Santa María de la Paz, Matehuala, Angustias, Dolores y Anexas in Pozos, Santa María de la Paz, La Purísima Concepción y Anexas, Catorce, Nueva Quebradilla y Anexas or Compañía Minera y Beneficiadora El Edén, Compañía Exploradora y Beneficiadora de Minerales de Zacatecas, and Ramón Corona de Naica, and the Carbonífera de Sabinas.
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.

Cajero

Andres Martinez Cardenas

Amador Paz

Paz took over from Pedro Olvera at the beginning of August 1896^{The Two Republics, 8 August 1896: Semana Mercantil, 10 August 1896: Diario del Hogar, 11 August 1896}

Gerente

Ernesto 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.
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.
Rodolfo M. Garza
Marcelino Garza see in Presidente above

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.