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 1889. It opened to the public on 1 February 1890, with a capital of  700,000 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 bank’s capital was increased to $1,000,000 in July 1893 and to $1,250,000 in July 1898. 

The bank opened a branch in Campeche on 1 January 1898 with Manuel García Gual as manager^{El Correo Español, 12 January 1898. Manuel García Gual was director of the branch of the Banco Yucateco in 1907 (El Diario, 20 February 1907). In January 1908 it was rumoured that he would be made sub-director of the Banco Yucateco, at the time that it was being merged with the Banco Mercantil de Yucatán (El Diario, 22 January 1908; El Tiempo, 23 January 1908).
Manuel García Gual was a deputy and interim governor in January 1906, substitute for governor Tomás Aznar y Cano in February 1907 (El Diario, 20 February 1907; El Popular, 21 February 1907) and October 1909 (The Mexican Herald, 2 October 1909).
He owned the hacienda Hobomó, in the municipality of Chiná.}.

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

The bank increased its capital to $2,000,000 in August 1899, and to $3,000,000 in October 1899. 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.

After opening the bank took advantage of the clause in its concession stating that it would be granted terms as favourable as any other bank to get its contract modified, on 27 May 1891^{[text needed]} to that of the Banco de Zacatecas. It was allowed to issue notes up to three times the amount of funds that it held, and to issue $1 notes. So in July 1891 the ABNC engraved a special portrait of an Indian girl (C 442).

In 1897 the bank added a $1,000 note.

These 39,400 notes were received, duly authorised and stamped by the Secretaría de Hacienda at the beginning of October 1897, and began to enter circulation from October to December. By 31 December $550,000 had been put into circulation, and the other $450,000 was put into circulation in January 1898^{Memorias de las Instituciones de Crédito correspondientes a los años 1897-1898-1899, tomo I}.

The 12,500 $20 and 10,000 $50, totalling $750,000, were authorised by the Secretaría de Hacienda on 17 March 1898 and stamped from April until 5 July 1898. Of these $190,000 were put into circulation in April, $330,000 in May, $180,000 in June and the final $50,000 (1,000 $50) on 5 July^{Memorias de las Instituciones de Crédito correspondientes a los años 1897-1898-1899, tomo I}.

On 22 April 1899 the ABNC changed the face plates of all the denominations by changing the year date from “189_” to “1___”^{ABNC, folder 151, Banco Peninsular Mexicano (1907-1932)}. For the April 1899 run the serial letters spelt BANCO YUCATECOO.

On 21 December 1899 the $5 face plate was altered by changing the year date from “1___” to “19__” and the $20 face plate by changing the year date from “1___” to “19__”^{ABNC, folder 151, Banco Peninsular Mexicano (1907-1932)}. For the December 1899 run the serial letters spelt MERIDA DE YUCATA.

The surviving plates were cancelled on 28 October 1931 (order F 3477)^{The plates were:
1 – 6 on $1 face plate made on order 14 July 1891
1 – 6 on $1 back plate made on order 14 July 1891
2 – 1 on $1 tints Nos. 1 & 2 made on order 14 July 1891
1 – 4 on $10 face plate #2 made on order F 141
1 – 4 on $10 back plate made on order 13 November 1889
2 – 1 on $10 tints Nos. 1 & 2 made on order 13 November 1889
1 – 2 on $20 face plate made on order 13 November 1889
1 – 4 on $20 face plate made on order 21 December 1889
1 – 2 on $20 back plate made on order 13 November 1889
1 – 4 on $20 back plate made on order 21 December 1889
2 – 1 on $20 tints Nos. 1 & 2 made on order 13 November 1889
1 – 4 on $50 face plate #2 made on order F 141
1 – 4 on $50 back plate made in 1898
1 – 4 on $50 back plate #2 made on order F 141
2 – 1 on $50 tints Nos. 1 & 2 made on order 13 November 1889
1 – 4 on $100 face plate made in 1898
1 – 4 on $100 face plate #2 made on order F 109
1 – 4 on $100 back plate made in 1898
2 – 1 on $100 tints Nos. 1 & 2 made on order 13 November 1889
1 – 1 on $500 pesos face plate made on order 13 November 1889
1 – 1 on $500 pesos centre back plate made on order 13 November 1889
1 – 1 on $500 pesos border back plate made on order 13 November 1889
2 – 1 on $500 pesos tints Nos. 1 & 2 made on order 13 November 1889
1 – 1 on $1,000 face plate made on order 23 February 1897
1 – 1 on $1,000 centre back plate made on order 23 February 1897
1 – 1 on $1,000 border back plate made on order 23 February 1897
2 – 1 on $1,000 tints Nos. 1 & 2 made on order 23 February 1897.
(ABNC, folder 151, Banco Peninsular Mexicano (1907-1932))}.

Branches

In its new concession, of 18 September 1897, the bank was given the right to establish branches and agencies in Yucatán, Campeche and Tabasco.

Campeche

The branch in Campeche was at calle del Comercio 16.

Ciudad de Carmen