Copyright: 4 Original photography - WesternMiningHistory.com
Description: The Percha Bank in Kingston, New Mexico was built in 1884 and was once the largest bank in the biggest city in the New Mexico Territory. At the height of its silver mining boom the population of Kingston topped 7,000, outstripping Albuquerque by at least 1,000 people. The town was founded in 1882 after a rich lode of silver ore was discovered by miner Jack Sheddon. Soon many mines dotted the area, including the Iron King Mine, after which Kingston was named.
The silver panic of 1893 and the establishment of the new gold standard dropped silver prices 90 percent. With the mines playing out and profits becoming losses, the town began to fold. Most residents left, tearing down buildings for materials to be used elsewhere, and the Percha Bank, once home to 7 million dollars in silver mined in the area, closed its building and moved offices to neighboring Hillsboro to support the gold mines there.
Text from the New Mexico Tourism Department