Merchants Exchange Bank
Historical marker location:Francisco Vaello Puig opened the Merchants Exchange Bank in Benavides in 1908. With the success of the Texas Mexican Railroad and the discovery of oil reservoirs, Benavides became a thriving small railroad town with a bright future. The Merchants Exchange Bank grew to reflect the wealth of the times. In 1937, the Vaello family built and relocated the establishment to this sandstone structure. In 1961, financial pressure on the bank ultimately crippled the business. By 1962 the bank closed, and Benavides began a steady decline which the closure of the bank compounded. The remaining structure acts as a testament to the former prosperity of the town.
RECORDED TEXAS HISTORIC LANDMARK – 2015
As one of the most visible programs of the Texas Historical Commission (THC), historical markers commemorate diverse topics in Texas history, including: the history and architecture of houses, commercial and public buildings, religious congregations, and military sites; events that changed the course of local and state history; and individuals who have made lasting contributions to the state, community organizations, and businesses.
In the late 19th century, Texas became known for its cattle drives, in which cowboys would move herds of cattle from Texas to railheads in Kansas and other northern states. The cattle drives were dangerous and difficult work, but they played a key role in the development of the American cattle industry.