Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1913-04-11
exchange BANK
RAISES CAPITAL
INCREASES AMOUNT OF STOCK
HUNDRED AND FIFTY TIIous-
AND DOLLARS.
BIGGEST BANK IN state
Has More Than Seven Hundred
Thousand Dollars on Hand 10
Protect Deposltors.

At meeting of the stockholders OF
the Exchange National bank held al
its banking rooms yesterday afternoon
the capital of the institution was in
creased from S150,000 to s25O,0O0,
The surplus was also increased from
$500 to $150,000. This gives the
bank a total Of 100000 of capital
and undivided profits. There Is but
one bank in Oklahoma with a larger
capital stock than this and but ono
where the combined capital, surplus
and undivided profits equal these
figures. The exchange National Is
the first on the roll Of Oklahoma
banks in the matter Of deposits ana
deposits are what makes a bank.
In making this Increase in the
assets the stockholders have been
actuated by the sole purpose of keep
ing apace with the progress in all lines
of business in this city. The bank
was organized because of the faith Of
the organizers in the growth of Tulsa.
They believed in the combined pros
perity of this city. They believed that
it would go on and on until It was
the first city in the state in CONNER
cial importance, in population and in
progress. With the firm determina-
ton to make the Exchange National
the first financial institution not only
in Tulsa but in Oklahoma and the
southwest the organizers and incorpo-
rators have steadily kept their ideal
In view and the present success of the
institution attests the wisdom of their
policy. The last statement of all the
banks in the state made to the comp
troller of the currency, under oath,
shows that the Exchange is first with
two Oklehoma City banks second and
third.
In spite of the optimism which ami
mates all Of the stockholders and d.
rectors of the bank its course has been
marked by extreme conservatism. II
has not embarked in hazardous en-
terprses nor has it inflated its stock
beyond reasonable and fair earning
power, The present increase in capl-
tai stock is amply justified, in fact,
taking all the conditions into consider
alton the directors believing that the
customers Of the bank, individual de-
positors the man who had one dollar
AS well as the man who had thousands
was entitled to additional protection.
after deliberaticn have decided that
with capital stock of $25O.OO0 and
surplus and undivided profits account
Of S190,000 additional the deposltors
will not only have more protection
than Is afforded by any bank In the
state but that the bank will be in a
position to handle all the business Of
sound character which 1t may secure
or which can be offered II. The ad
dition TO the capital stock with the
surplus and undivided profits increase
the protection to .depositors 5000. 900,
making the total protection to de-
positors over 100000. This is solid.
emphatic, tangible testimonial of
the strength and influence and solv-
ency OF the institution and speaks
louder than words.
The history of the Exchange Ma
tional bank from its organization in
1910 1t opened for business on
February 9th of that year. has been
the doors were thrown open the de-
pOsits totalled s404,67i.14. The next
statement showed substantial in
crease and every statement published
since then has shown an increase. In
not one of them made during the
three years past has the deposits fallen
below the previous statement. The
last statement published this week
shows deposits of S2,461,s49,61 ex-
ceedng by more than $4,000 any
other bank in the state. This growth
has not been meteoric or sensational,
it has been but a record Of progress
steadily and hardly won. 1t is the
material expression of the confidence
of the people in the management of
the bank, an expression of Its progress
siye policy and of its sound business
principles.
Tulsa is going ahead, Tulsa is going
to he the center of population In the
state. Tulsa is going to be the center
of population in this and other states
tributory thereto. Naturally such
conditions demand a financial institu-
tion which is prepared at all times
to handle the securities OF enterprises
of moment; enterprises which are con-
trlbuting and which will contribute
much to the material prosperity in the
future and to the welfare of all the
people of Tulsa and that is the guild
ing purpose OF the stockholders In in
creasng the protection to depositors
through the large increase in assets
of the bank.
The directors of the bank, and the
officers as wei. are all interested in
the growth and the prosperity OF
Tulsa. Look at this list for just a
moment: p j. White, j. II. Evans, X.
NJ. McFarlin, r. S. Litchfleld, Homer
NJ. Preston. L. w. Sinclair. J. A. Hull,
u +. Connolly, II +. Sinclair, Thomas
White. o. Fl. Leonard. The invest
ments of these gentlemen in Tulsa
and the territory tributory to Tulsa |
will run into the millions. They have