El Banco de Tamaulipas

After the Ley General, between 1899 and 1902, there were three attempts to obtain the concession for the bank in Tamaulipas. The first was headed by a group of English investors with business in TampicoCEHM, letter Demetrio Salazar to José Yves Limantour, Mexico City, 29 December 1899 and the second was by the American businessman, Melitón Cross, of Matamoros and the hacendado Rómulo Cuéllar, of San FernandoA reason for the failure was the drought that afflicted the north of the state and consequent loss of income and lack of capital (CEHM, Colección José Y. Limatour, CDLIV.2a.1901 carpeta16, legajo 26341, letter Melitón H. Cross, Matamoros to J. M. Zevada Baldenebro, Mexico City, 4 June 1901 but both were unsuccessful. However, by 1902 some businessmen from Tampico and Tula and the governor, Pedro Argüelles, were convinced that a bank would stimulate the local economy. The new promoters were Tomás Ugarte, shareholder and manager of the casa comercial Ugarte y Jáuregui; Gerónimo Bergán, owner of the casa de comisiones Federico Stussy Sucs, both from Tampico, and Juan José Castaños, from Tula, a town in the southeast of the stateCEHM. letter Guillermo Obregón to José Ives Limantour, Mexico City, 28 February 1902.

Governor Argüelles as a companion in arms of President Díaz and friend of Limantour helped authorise the concession of 26 March 1902. The founding document and statutes were signed on 25 June and the bank started business on 15 OctoberLa Voz de México, 17 October 1902.

Originally the bank had a capital of $1,000,000 but four years after its opening Guillermo Obregón solicited Limantour to increase it to $2,500,000CEHM, letter Guillermo Obregón to José Yves Limantour, Mexico City, 20 November 1906.

American Bank Note Company print runs

The American Bank Note Company produced the following notes. The company engraved special vignettes of a child (C 251) for the $5 note, of de la Garza (C 254) for the $500 note and the arms of Tampico (C 847) for all the reverses.

Tamaulipas 5 G 00000

Tamaulipas 5 G 00000 reverse

Tamaulipas 10 E 6271

Tamaulipas 20 P 1938

Tamaulipas 50 F 114

Tamaulipas 100 F 398

Tamaulipas 500 specimen

Tamaulipas 500 specimen reverse

Tamaulipas 1000 specimen

Tamaulipas 1000 specimen reverse

Date Value Number Series from to
May 1902 $5  40,000  A 1 20000
B 1 20000
$10  20,000  A 1 10000
B 1 10000
$20  10,000  A 1 5000
B 1 5000
$50  2,000  A 1 1000
B 1 1000
$100  1,000  A 1 500
B 1 500
$500  200  A 1 100
B 1 100
$1000 100  A 1 50
B 1 50

 

Date Value Number Series from to
March 1903 $5  10,000  C 1 5000
D 1 5000
$10  5,000  C 1 2500
D 1 2500
$20  5,000  C 1 2500
D 1 2500
$50  4,000  C 1 2000
D 1 2000
$100  4,500  C 1 2,250
D 1 2,250
$500  200  C 1 100
D 1 100
$1000 50  C 1 25
D 1 25

 

In May 1903 it was suggested that some criminals had put counterfeit notes into circulation. This was false. What had happened as that a visitor to Mexico City lost $700 in brand new Banco de Tamaulipas notes, He reported this to the police who told some casas de comercio to report anyone offering Banco de Tamaulipas notes. One policemen said this was because there were counterfeits, and this was picked up by a reporterEl Tiempo, México, 28 May 1903. In fact the stolen notes were recoveredEl Tiempo, México, 28 May 1903. However, this canard was still publishedEl Correo de Chihuahua, 414, 2 June 1903.

For the March 1911 and September 1912 runs the ABNC altered the face plates by engraving "Tampico" and erasing "de  de 190-" from the dateline on the face plates

Date Value Number Series from to
March 1911 $5 50,000 E 1 50000
$10 25,000 E 1 25000

 

Date Value Number Series from to
September 1912 $5 60,000 F 1 60000
$10 20,000 F 1 20000
$20 2,500 F 1 2500
$50 1,000 F 1 1000
$100 2,000 F 1 2000
$500 200 F 1 200
$1000 100 F 1 100

 

Date Value Number Series from to
January 1914 $5  120,000 G 1 60000
H 60001 120000
$10  20,000  G 1 10000
H 10001 20000
$20  10,000  G 1 5000
H 5001 10000
$50  8,000 G 1 4000
  H 4001 8000
$100  2,000  G 1 1000
H 1001 2000
$500  400  G 1 200
H 201 400
$1000 200  G 1 100
H 1 100

 

Date Value Number Series from to
June 1914 $5 100,000 H 120001 220000
$10 30,000 H 20001 50000
$20 10,000 H 10001 20000
$50 6,000 H 8001 14000
$100 2,000 H 2001 4000

 

On 15 February 1914 General Pablo González, in Matamoros, prohibited the circulation of any Mexican banknotes under pain of a fine or corporal punishment Periódico Oficial, Tamaulipas, Tomo XXXIX, Núm. 14, 18 February 1914. Two days later Tamaulipas’ governor, Luis Caballero, offered holders the chance to exchange their notes for Constitutionalist currencyPeriódico Oficial, Tamaulipas, Tomo XXXIX, Núm. 14, 18 February 1914. On 19 February, Caballero, noting that the period conceded by Carranza on 6 December has expired, took over the agencies of the Banco Nacional de México, Banco de Tamaulipas, Banco de Nuevo León and Banco Mercantil de Monterrey in Ciudad VictoriaPeriódico Oficial, Tamaulipas, Tomo XXXIX, Núm. 15, 21 February 1914.

On 4 June 1914 Caballero prohibited the circulation of all banknotes dated after 23 February 1913. Holders could hang on to their notes until the banks resumed their operations and took responsibility for these issues Periódico Oficial, Tamaulipas, Tomo XXXIX, Núm. 48, 17 June 1914; SD papers, 812.516/94. On 22 June the Jefe de Armas added that people did not have to repay any outstanding debts until the banks had regularised their positionPeriódico Oficial, Tomo XXXIX, Núm. 50, 24 June 1914.

However, once he had assumed power, Carranza reversed his prohibition and allowed federal offices to accept banknotes whilst ordering an examination into the conduct of the banks LINK Periódico Oficial, Tamaulipas, Tomo XXXIX, Núm. 71, 5 September 1914.

On 19 December 1915 Carranza's Comisión Reguladora e Inspectora de Instituciones de Crédito ruled that the bank was in breach of its concession and declared it insolvent.