El Banco de Zacatecas

Palacio de Gobierno and Banco de Zacatecas

(image courtesy Federico Sescosse collection, provided by Luis M. Gómez-Wulschner)

The Banco de Zacatecas^{for a detailed history of the bank, see María Guadalupe Noriega Caldera, El Banco de Zacatecas: regulación, organización, operaciones y administración (1891-1916), Universidad Autónoma de Zacatecas, December 2018}, granted a concession on 3 March 1891, was founded on 25 May 1891 by Jesus and Antonio García, Rafael Villalpando and Luis Macías with a capital of $600,000 and began operating on 8 December of the same year. Most of the founding members were men of lineage, well-known business men, merchants and land owners^{The first board were Genaro García, as presidente, Luis Macías, Rafael Villalpando, Enrique Hatchandy, Cayetano Arteaga, Jaime G. Würst, Leopoldo Viadero, Francisco Pérez, Agustín G. González and Juan Breña}. Unsurprisingly, over a dozen of the shareholders also owned shares in the Compañía Guanajuatense-Zacatecana which was the last private enterprise that leased the Zacatecas Mint (1876-1895).

Following the Ley General de Instituciones de Credito, on 12 November 1897 the bank, represented by Genaro G. García, renounced its existing rights and entered into a new contract with the federal government.

German Dectjen was manager of the main offices. Then, Juan Henkel was manager from [December 1894] until August 1896 when he signed his last balance sheet. He was replaced by J. B. Meyer.

The branch in Aguascalientes, on the corner of calle Juárez and calle Madero, 1900

In 1897 the bank established a branch in Aguascalientes, though its notes already circulated and were accepted in the most important shops^{The bank’s records list a junta de vigilancia in 1894 with Carlos M. López as vocal propietario, Rafael Arellano Valle as vocal propietario, Carlos Sagredo as primer vocal suplente and J.RG. Kerland as manager (AGN, Fondo: Antiguos Bancos de Emisión, Serie: Banco de Zacatecas, Libro: Actas de Consejo Sucursal de Aguascalientes, Año: 1894, fs. 30)}. In July of that year the board asked the Aguascalientes Congress for certain tax exemptions for the branch that it proposed to set up in the capital and, having received them^{decree núm. 856 dated 10 July 1897[text needed] (published in Rafael Arellano, Memoria en que el Ejecutivo del Estado de Aguascalientes, da cuenta a la H. Legislatura, de los actos de su administración, en el periodo de primero de diciembre de 1895 a 30 de noviembre de 1899, Aguascalientes, Imprenta de Ricardo Rodríguez Romo, 1899, anexo número 69)}, began operation on 1 September, with Genaro E. Kimball as manager ^{The Junta de Vigilancia for the branch in 1901 was Carlos M. López, Rafael Arellano Valle and Felipe Ruíz de Chávez. (AGN, Antiguos Bancos de Emisión, Caja 1716, Libro 2835, Actas del Banco de Zacatecas, 1897-1903). Up to 1914 Carlos M. López headed the Junta, Luis P. Ibargüengoitia was manager and Camilo Chávez Guinchard cajero (AGN, Antiguos Bancos de Emisión, Caja 2110, Libro 3640, Actas sucursal de Aguascalientes 1914 - 1916)} . On 1 July 1902 the bank opened another branch in Lagos de Moreno, Jalisco, under the management of Luis P. Ibargüengoitia^{AHEZ, Fondo Notarios, Serie Período Independiente, Subserie Luis D. Hernández, Libro 16, Tomo II, Año 1902, Número 96, 16 June, “Poder conferido por el gerente del Banco de Zacatecas en favor de D. Luis P. Ibargüengoitia gerente del citado en Lagos”}.

From the beginning of the armed movement in 1910 until the end of 1913 Zacatecas did not suffer serious conflict. Nonetheless, at the beginning of 1914 the winds of war began to blow across the mountainous regions of Zacatecas and with the approach of the revolutionary forces the board took the decision on 2 June 1914 to close the head offices and move to Mexico City.

On 8 December 1915, following an investigation into the bank's finances, the Comisión Reguladora e Inspectora de Instituciones de Crédito declared that the bank was within the terms set by the Ley General and would keep its concession.

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.

ANBC print runs

The bank issued notes in seven denominations ($1, $5, $10, $20, $50, $100 and $500) printed by the American Bank Note Company in New York. All of them bear a vignette (C 181) of Francisco García Salinas^{Francisco García Salinas was born on the Hacienda of Santa Gertrudis, Zacatecas in 1786. He studied in the seminary of Guadalajara and returned to his hometown to dedicate himself to the mining industry. When the War of Independence ended, he was counselor of the Municipal Government of Zacatecas during 1821. While a Senator in 1825, he pointed out serious financial errors to the Ministry of the Treasury. Because of this, he was appointed Minister of the Treasury in the cabinet of Guadalupe Victoria. He held this post until 1828 when he was elected Governor of Zacatecas (1828-1834). In 1841, President Santa Anna offered him the post of Minister of the Treasury once again, which he refused shortly before his death. He died in San Pedro, Zacatecas in 1841.} (governor from 1828 to 1834) on the face as well as different allegories and rural or industrial scenes.

The ABNC engraved special vignettes of "oxen ploughing" (C 438) and "a view of a mining district" (C 441).

For the backs the ABNC engraved a special vignette of the Cerro de la Bufa (C 439).

The American Bank Note Company's print runs were:

On 8 April 1913 the bank asked for a quote for 76,100 notes in six denominations^{ABNC, folder 603, Banco de Zacatecas (1913-1931)}. The ABNC quoted $2,493.00. U.S. Gold, F.O.B. New York, on 5 May and the bank placed the order on 21 May.

On 6 August the ABNC forwarded, by Wells Fargo Express (via Veracruz), a box containing 20,000 $10 (31501-51500), 1,000 $20 (13001-14000), 1,600 $50 (8001-9600), 3,000 $100 (3501-6500) and 500 $500 (651-1150). These were received by the bank by 20 August. On 27 August the ABNC sent a box containing 10,000 $5 (60001-70000) and on 16 September completed the order by forwarding, by Wells Fargo Express (per steamer via Veracruz) a box containing 40,000 $5 (70001-110000). The bank had received all the notes by 17 October.

When Huerta was modifying the Ley General de Instituciones de Crédito Charles Blackmore, the Resident Agent in Mexico City, tried to interest the various banks in ordering $1 and $2 notes and wrote to the Banco de Zacatecas on 10 November. On 24 November J. P. Macías, the bank’s manager, wrote that he was coming to Mexico City and would call on Blackmore to discuss the printing of such notes. However, the order was ultimately placed with the Mexico City firm, Eduardo I. Aguilar.

The plates used in printing the bank’s notes were cancelled by the American Bank Note Company on 28 October 1931^{The plates were:
1 – 6 on $1 face plate made on order 15 June 1891
1 – 6 on $1 back plate made on order 15 June 189
2 – 1 on $1 tints Nos. 1 & 2 made on order 15 June 189
1 – 4 on $5 face plate made on order 15 June 189
1 – 4 on $5 face plate #2 made on order F 3753
1 – 4 on $5 back plate #3 made on order F 3753
2 – 1 on $5 tints Nos. 1 & 2 made on order 15 June 1891
1 – 2 on $10 face plate made on order 15 June 1891
1 – 2 on $10 back plate made on order 15 June 1891
2 – 1 on $10 tints Nos. 1 & 2 made on order 15 June 1891
1 – 1 on $20 face plate made on order 15 June 1891
1 – 1 on $20 back plate made on order 15 June 1891
2 – 1 on $20 tints Nos. 1 & 2 made on order 15 June 1891
1 – 1 on $50 face plate made on order 15 June 1891
1 – 1 on $50 back plate made on order 15 June 1891
2 – 1 on $50 tints Nos. 1 & 2 made on order 15 June 1891
1 – 1 on $100 face plate made on order 15 June 1891
1 – 1 on $100 back plate made on order 15 June 1891
2 – 1 on $100 tints Nos. 1 & 2 made on order 15 June 1891
1 – 1 on $500 face plate made on order 15 June 1891
1 – 1 on $500 center back plate made on order 15 June 1891
1 – 1 on $500 border back plate made on order 15 June 1891
2 – 1 on $500 tints Nos. 1 & 2 made on order 15 June 1891 (ABNC, folder 603, Banco de Zacatecas (1913-1931)}.