Enrique Halphen and Company owned a number of properties including a store in
David, Panama in 1911. Sometime during the years of the worldwide depression
(1920's and 1930's), the company fell on financial hard times and sold most
of their chain of stores to Aristides Romero. Palo Alto was a coffee finca
located in Los Naranjos in the prime Boquete coffee region. It was founded
by the American James Denham in 1898. He named it Palo Alto
after his hometown in California. Palo Alto was about
750 acres in extent. It was known for producing a high quality coffee, and
included the Panama Canal Company among its customers. James Denham died
in an accident in March, 1918.
Enrique Halphen and Company is mostly known for its chain of stores, but
obviously entered the coffee business at some point and issued this token.
Apparently they purchased James Denham's Palo Alto finca after his death
in 1918 and ran it for a while, perhaps until their financial debacle in the
mid to late 1920's.
This token is somewhat similar to the Enrique Vazquez token, so it may have been
manufactured by the same company.