San Miguel National Bank, Las Vegas, NM (Charter 2454)
San Miguel National Bank, Las Vegas, NM (Chartered 1880 - Liquidated 1920)
Town History
Las Vegas is a city in and the county seat of San Miguel County, New Mexico. Once two separate municipalities (one a city and the other a town), both were named Las Vegas—West Las Vegas ("Old Town") and East Las Vegas ("New Town"); they are separated by the Gallinas River and retain distinct characters and separate, rival school districts. Las Vegas is located 110 miles south of Raton, 65 miles east of Santa Fe, and 122 miles northeast of Albuquerque. The population was 13,166 at the 2020 census. In 1890 the population was 2,312, growing to 4,719 by 1930.
Las Vegas was established in 1835 after a group of settlers received a land grant from the Mexican government. (The land had previously been granted to Luis Mara Cabeza de Baca.) The town was laid out in the traditional Spanish Colonial style, with a central plaza surrounded by buildings which could serve as fortifications in case of attack. Las Vegas soon prospered as a stop on the Santa Fe Trail. During the Mexican–American War in 1846, Stephen W. Kearny delivered an address at the Plaza of Las Vegas claiming New Mexico for the United States. In 1847, the town was the site of the Battle of Las Vegas, which was a part of the broader Taos Revolt by local Hispanos and Pueblo peoples against United States forces. In 1860, the United States Congress passed a law allowing the Cabeza de Baca heirs to choose other grants in lieu of their Las Vegas grant.
The Atchison, Topeka and Santa Fe Railroad arrived at Las Vegas from the north on July 4, 1879. To maintain control of development rights, it established a station and related development one mile east of the Plaza, creating a separate, rival New Town, as occurred elsewhere in the Old West. During the railroad era Las Vegas boomed, quickly becoming one of the largest cities in the American Southwest. Turn-of-the-century Las Vegas featured all the modern amenities, including an electric street railway, the "Duncan Opera House" at the northeast corner of 6th Street and Douglas Avenue, a Carnegie library, the Castañeda Hotel (a major Harvey House), and the New Mexico Normal School (now New Mexico Highlands University).
The arrival of the railroad in 1879 brought with it businesses, development and new residents, both respectable and dubious. Murderers, robbers, thieves, gamblers, gunmen, swindlers, vagrants, and tramps poured in, transforming the eastern side of the settlement into a virtually lawless brawl. Among the notorious characters were such legends of the Old West as: dentist Doc Holliday and his girlfriend Big Nose Kate, Dave Rudabaugh, Jesse James, Billy the Kid, Wyatt Earp, Mysterious Dave Mather, Hoodoo Brown, and Handsome Harry the Dancehall Rustler.
Las Vegas had two National Banks chartered during the Bank Note Era, and both of those banks issued National Bank Notes.
Bank History
- Organized Jan 13, 1880
- Chartered Feb 9, 1880
- Liquidated Jan 2, 1920
- Consolidated with 2436 (First National Bank, Las Vegas, NM)
- Circulation assumed by 2436 (First National Bank, Las Vegas, NM)
In December 1879, a new national bank under the style of the "San Miguel National Bank of Las Vegas," was incorporated in Las Vegas with a paid up capital of $50,000. The officers were Hon. Miguel A. Otero, president; Mr. McNair, vice president; Jacob Gross, cashier. The directors were M.A. Otero, Mr. McNair, Joseph Rosenwald, Lorenzo Lopez, Frank Chapman, Chas. Ilfeld and Christopher Blackwell.
In June 1880, the bank advertised it conducted a general banking business with drafts for sale on the principal cities of Great Britain and the European Continent. It was located in the Rosenwald Building and the directors were Miguel A. Otero, Emanuel Rosenwald, Andreas Sena, Joseph Rosenwald, Jacob Gross, Lorenzo Lopez, and David Winternit.
In October 1881, the directors were Miguel A. Otero, Joseph Rosenwald, Emanuel Rosenwald, Jacob Gross, Andres Sena, Lorenzo Lopez, and Mariano S. Otero. The officers were Miguel A. Otero, president; Jacob Gross, cashier; Joseph Rosenwald, vice president; and M.A. Otero, Jr., assistant cashier. The bank had authorized capital of $200,000 with $50,000 paid in.
In March 1890, the officers were W.M. Eads, president; Jacob Gross, vice president; and D.T. Hoskins, cashier. The directors were Frank Springer, Jacob Gross, A.M. Blackwell, N.L. Rosenthal, Emanuel Rosenwald, W.M. Eads, and Henry Goke. Located on Sixth Street, the bank had capital of $100,000 and surplus of $50,000.
On Tuesday, January 9, 1900, at the annual meeting of stockholders, the incumbents were re-elected and were as follows: Dr. J.M. Cunningham, president; Frank Springer, vice president. These two gentlemen with John Hill constituted the directorate of the bank. D.T. Hoskins was cashier and F.B. January, assistant cashier.
In 1918, the officers were Dr. J.M. Cunningham, president; Frank Springer, vice president; and D.T. Hoskins, cashier. The bank had capital of $100,000 and surplus of $75,000.
On December 15, 1919, announcement was made of the consolidation of The First National Bank and the San Miguel National Bank under the name of the First National. The consolidated bank would have capital and surplus of $300,000. J.M. Cunningham, president of the San Miguel National would remain as president. Other officers would be S.B. Davis Jr., D.T. Hoskins, and Frank Springer, vice presidents; E.J. McWenie, cashier; Joshua Raynolds, J. Van Houten, James McNary, William J. Lucas, William G. Haydon, Chris Wigand, directors.
Official Bank Title(s)
1: The San Miguel National Bank of Las Vegas, NM
Bank Note Types Issued
A total of $1,072,050 in National Bank Notes was issued by this bank between 1880 and 1920. This consisted of a total of 97,260 notes (97,260 large size and No small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments Series 1875 4x5 1 - 3100 Territory Series 1875 4x10 1 - 5070 Territory 1882 Brown Back 3x10-20 1 - 6400 Territory 1882 Date Back 3x10-20 1 - 4400 Territory 1882 Date Back 3x10-20 1 - 2600 1882 Value Back 3x10-20 2601 - 5345
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1880 - 1920):
Presidents:
- Miguel Antonio Otero, 1880-1881
- Mariano Sabino Otero, 1882-1885
- William Martin Eads, 1886-1892
- Dr. Joseph Martin Cunningham, 1893-1919
Cashiers:
Other Known Bank Note Signers
Bank Note History Links
- San Miguel National Bank, Las Vegas, NM History (NB Lookup)
- The Raynolds Brothers: Pioneer Bankers of the West (Part I) (SPMC PM#78)
- New Mexico Bank Note History (BNH Wiki)
Sources
- Las Vegas, NM, on Wikipedia
- Don C. Kelly, National Bank Notes, A Guide with Prices. 6th Edition (Oxford, OH: The Paper Money Institute, 2008).
- Dean Oakes and John Hickman, Standard Catalog of National Bank Notes. 2nd Edition (Iola, WI: Krause Publications, 1990).
- Banks & Bankers Historical Database (1782-1935), https://spmc.org/bank-note-history-project
- Weekly New Mexican, Santa Fe, NM, Sat., Dec. 20, 1879.
- Daily Gazette, Las Vegas, NM, Wed., June 9, 1880.
- The Las Vegas Gazette, Las Vegas, NM, Thu., Oct. 27, 1881.
- Las Vegas Daily Optic, Las Vegas, NM, Wed., Mar. 19, 1890.
- Las Vegas Daily Optic, Las Vegas, NM, Tue., Jan. 9, 1900.
- La Voz del Pueblo, Santa Fe, NM, Sat., Mar. 30, 1918.
- Albuquerque Morning Journal, Albuquerque, NM, Tue., Dec. 16, 1919.