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MILMO
GROUP | HISTORY
1800’s
1845
- Patricio Milmo O’ Dowd left Ireland to come to
America in pursuit of fortune.
1848 - He established the first banking agency
in the north of Mexico under the name Casa Milmo with
branch offices in Matamoros, Eagle
Pass, Laredo, Texas and later Torreon.
1861 - Patricio
Milmo married Miss Pudenciana Vidaurri daughter of General
Santiago Vidaurri and Dona Juana Vidaurri, descendants
of Vasquez Borrego, one of the founders of Laredo, Texas.
1862 - Patricio Milmo expanded his businesses
to cotton, mining, transportation, steel production, cattle
and sheep raising. He acquired several ranches and shares
in the furniture factory “La industrial” and
in the soap factory “La Esperanza” of Villa
Lerdo. Also, he gained a partial
interest
in the National Railway to transport his
coal and became “coal partner” in La fundador
steel company.
1863 - Patricio Milmo opened the Milmo
Bank of Monterrey in Monterrey, Mexico.
1882 - Patricio Milmo and Daniel Milmo
purchased the land for the establishment of a new bank,
“Milmo National Bank of Laredo”, and received
the federal bank charter from the US government in July
of same year.
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