El Banco Yucateco

Yucatán was one of the few states that supported more than one bank, as they were established within months of one another by two competing groups of businessmen. The group headed by Eusebio Escalante Bates were traditional businessmen, linked by family networks with their strength in the south and west of the state. The second group, headed by Olegario Molina Solís, was composed of more recent arrivals, who had benefitted from the concessions and railroad contracts, and used these as a beachhead to increase their commercial and financial influence. Both groups were driven by loyalty to their own and aggression towards members of the other group.

The Banco Yucateco was financed by the trading house of Olegario Molina. The Secretaría de Hacienda granted a concession to establish the bank to Nicanor Ancona on 7 September 1899. It opened to the public on 1 February 1890, with a capital of 350,000 pesos^{Besides Nicanor Ancona as president, the board had, as vocales, Olegario Molina, Alonso de Regil y Peón and Florencio Laviada; as secretary, Fernando Cervera, and, as comisario, Eloy Haro.}.

The board agreed to increase its share capital to $1,250,000 and to open a branch in Campeche in January 1898^{Semana Mercantil, 10 January 1898}. The branch opened on 1 January 1898 with Manuel García Gual as manager^{El Correo Español, 12 January 1898}.

Following the Ley General the bank renounced all its rights and was granted a new concession on 18 September 1897.

By 1903 the bank's capital had reached 8,000,000 pesos. In 1905 it merged with the Banco Mercantil de Yucatán to form the Banco Peninsular Mexicano.

American Bank Note Company print runs

The American Bank Note Company produced the following notes.

Date	Value	Number	Series	from	to
November 1889	$5	20,000		1	20000
	$10	20,000		1	20000
	$20	10,000		1	10000
	$50	4,000		1	4000
	$100	2,000		1	2000
	$500	200		1	200

 

In July 1891 the ABNC engraved a special portrait of an Indian girl (C 442).

Date	Value	Number	Series	from	to
July 1891	$1	100,000		1	100000

 

In 1897 the bank added a $1000 note.

Date	Value	Number	Series	from	to
February 1897	$5	10,000		20001	30000
	$10	15,000		20001	35000
	$20	10,000		10001	20000
	$50	2,000		4001	6000
	$100	2,000		2001	4000
	$500	200		201	400
	$1000	200		1	200

 

Date	Value	Number	Series	from	to
January 1898	$5	40,000	TM	30001	70000
	$10	30,000	LA	35001	65000
	$20	12,500	OM	20001	32500
	$50	10,000	RC	6001	16000
	$100	5,000	AR	4001	9000

 

 For the April 1899 run the serial letters spelt BANCO YUCATECOO.

Date	Value	Number	Series	from	to
April 1899	$5	14,000	OO	70001	84000
	$10	25,000	EC	65001	90000
	$20	20,000	AT	32501	52500
	$50	15,000	UC	16001	31000
	$100	4,800	OY	9001	13800
	$500	200	NC	401	600
	$1000	200	BA	201	400

 

For the December 1899 run the serial letters spelt MERIDA DE YUCATA.

Date	Value	Number	Series	from	to
December 1899	$5	20,000	TA	1	20000
	$10	20,000	CA	1	20000
	$20	25,000	YU	1	25000
	$50	20,000	DE	1	20000
	$100	7,500	DA	1	7500
	$500	500	RI	1	500
	$1000	200	ME	1	200

 

Date	Value	Number	Series	from	to
September 1902	$100	10,000	MGJ	1	10000
	$500	1,000	CC	1	1000
	$1000	5,000	NEP	1	500

 

Date	Value	Number	Series	from	to
November 1902	$5	40,000	MGT	1	40000
	$10	20,000	MPC	1	20000
	$20	5,000	MGG	1	5000
	$50	10,000	MP	1	10000

 

Date	Value	Number	Series	from	to
December 1902	$5	40,000	HC	144001	184000
	$10	20,000	MH	130001	150000
	$50	20,000	BJ	58999	78998
	$100	10,000	JDC	31301	41300
	$500	600	JIL	2101	2700
	$1000	300	PD	1101	1400

 

Date	Value	Number	Series	from	to
May 1903	$20	15,000	MGJ	82499	97498
	$50	40,000	JDC	80999	129998
	$100	12,000	BJ	41301	53300
	$500	2.000	JIL	2701	4700
	$1000	500	PD	1401	1900