Notes in circulation

In accordance with its concession the bank had to publish an abbreviated balance sheet every month in the official bulletins of both state and federal governments. We therefore have the following details for the value of notes in circulation.

The value of notes in circulation was the value of notes issued to date, less the sum in the bank’s own holding, less the value of multilated notes withdrawn and destroyed.

        189818991900
Jan                 548,500 1,029,000
Feb                 565,000 985,000
Mar               33,500 605,000 1,048,000
Apr               80,200 655,000 1,078,000
May               177,000 715,000 1,078,000
Jun               242,000 740,000 1,108,000
Jul               288,000 750,000 1,130,000
Aug               317,000 778,500 1,141,000
Sep               377,000 808,000 1,182,000
Oct               418,000 862,000 1,207,000
Nov               482,000 961,000 1,215,000
Dec               515,500 1,004,500 1,255,975

 

 1901190219031904190519061907190819091910
Jan 1,272,975 2,033,425 2,179,515 2,458,375 2,527,745 2,560,460 2,516,575 2,399,360 2,296,635 2,421,575
Feb 1,298,975 2.043,785 2,200,535 2,460,390  2,664,735 2,584,235 2,601,910 2,364,295 2,433,850 2,536,945
Mar  1,365,975  1,989,955 2,237,195  2,504,950  2,800,115 2,594,020 2,663,310 2,378,030 2,358,815 2,557,490
Apr  1,417,975 2,081,405  2,267,255  2,450,695  2,772,305 2,541,245 2,430,835 2,387,670 2,342,165 2,616,255
May  1,472,000  2,089,020  2,315,315  2,428,175  2,738,690 2,450,735 2,623,700 2,458,635 2,302,240 2,479,150
June 1,500,000  2,110,195  2,407,725  2,389,690  2,837,210 2,428,465 2,527,405 2,458,745 2,434,275 2,502,415
July 1,500,000  2,047,590  2,492,800 2,429,415  2,757,670 2,388,045 2,526,275 2,500,795 2,418,775 2,589,885
Aug  1,550,000  2,094,765  2,538,905  2,495,965  2,730,530 2,427,655 2,456,690 2,299,530 2,298,260 2,509,355
Sep  1,572,000  2,066,875  2,444,485  2,497,910  2,698,415 2,425,545 2,524,255 2,228,900 2,321,935 2,363,010
Oct 1,713,870 2,100,295 2,541,605 2,615,970 2,607,810 2,409,475 2,420,635 2,292,625 2,219,895 2,307,645
Nov 1,854,100 2,090,280 2,379,635 2,581,975 2,698,475 2,480,630 2,421,300 2,222,900 2,246,520 2,423,690
Dec 1,872,680 2,157,225 2,536,230 2,572,585 2,703,030 2,546,845 2,408,485 2,306,690 2,218,100 2,389,210

 

 1911191219131914191519161917191819191920
Jan 2,437,865 2,789,420 3,069,690              
Feb 2,491,160                  
Mar 2,598,985                  
Apr 2,785,775 3,026,270                
May 2,815,045 2,884,380                
Jun 2,816,190 2,978,680   3,007,080            
Jul 2,796,420 3,235,805                
Aug 2,700,620 3,080,700                
Sep 2,689,860 2,871,230                
Oct 2,706,545 3,033,865     2,286,320report of Comisión Reguladora de Bancos, 8 March 1916          
Nov 2,740,520 3,048,985                
Dec 2,770,515                  

 

 192119221923192419251926 1927 1928  
Jan                    
Feb               379,755The Los Angeles Times, 16 February 1928    
Mar                    
Apr                    
May                    
Jun                    
Jul                    
Aug                    
Sep                    
Oct                    
Nov                    
Dec 1,214,485 824,215 674,030 552,565 467,405  397,750        

 

For the first few months of its existence the bank had to rely on coins as it did not have notes to put into circulation until the end of March 1898. When the bank finally issued its first notes they were so eagerly accepted that the bank, at first, could not satisfy demand and in October 1898 had to ask its shareholders for their second callAGHES, Fondo Oficialidad Mayor, tomo 1790. By 1900 the rate of increase in issue dropped, because the bank was approaching its then limit of $1,500,000.

Incinerations

Notes that had been mutilated or deteriorated were taken out of circulation and destroyed. Thus, on 20 December 1904 $300,000 in notes were incinerated.

After the revolution the bank withdrew and destroyed its notes, though records are patchy. On 14 December 1921 $515,000 was incinerated at the Banco de Sonora headquarters in Hermosillo in the presence of bank and government officialsTucsonense, 15 December 1921 and another half million pesos was destroyed in the same way on 14 April 1922Tucsonense, 15 April 1922.