The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1918-12-04
OKLAHOMA CITY BANKS.
CON SOL|OATE WITH HUGH
N. JOHNSON PRESIDENT 7.
STATE NATIONAL BANK ABB
SORBS THE EXCHANGE MA
TIONAL AND INCREASES
CAPITAL.

Daily Oklahoma One of the
LARGEST financial deals in Oklahoma
in the last year was closed yester-
day with the sale OF the State EN-
change bank and its assets to the
State National bank.
The actual moving of cash and
securities from the State Exchange
bank to the State National bank
building was completed last night
and the consolidated institution,
which will be known as the State
National bank, will be open to-
morrow morning.
An increase in the capital stock
of the State National bank from
$250,000 10 $500,000 has been made.
The capital surplus and undivided
profits account has been increased
to 100000, which makes the bank
in point of capitalization, the largest
banking institution in Oklahoma
City.
Hugh NJ. Johnson, former presi-
dent of the State Exchange bank,
was elected president OF the reor-
ganized State National bank at a
meeting OF the board OF directors
yesterday. The resignation OF +. II.
Cooke, as president. was followed by
Mr.. Cookies election TO the newly
created Office OF chairman of the
board Of directors.
The List Of Officers.
The complete list OF officers Of
the State National bank now is f.
II. Cooke, chairman OF the board OF
directors; Hugh M. Johnson, orcsi-
dent; Prentiss Price, vice-president
George J.. Cook, vice ce-prcSidcnt; I.
W. Teter, vice president; Montford
VI. ones, vice president; ! Arthur
cashier; Frank L.
Clark. assistant cashier; Robert |.
Smith assistant cashier; Tom G.
Taylor. assistant cashier.
All OF the former directors OF the
State National bank are to retain
their affiliation with the bank. The
in addition to the Off
GERS named will consist OF; w. T. |
Hales, !. N. Dodson, w. f. Wilson,
W. NJ. Bonner, r. J. Edwards. B. r.
Iones, Lester b. Gum, F B. Zeiglcr,
.. F. Bennett, Walter d. Caldwell.
T. w. Gilliland, Don Lacy, F. w.
Sinclair. c, w. Boggs, Z. L. Jones
and L. =. Jackson.
Substantial interests in the con-
;olidated concern are held by all
If the directors. Each is well
;nown in business and professional
,irclcs here and they give the bank
me of the strongest directorates N
he southwest.
Hugh NJ. Johnson the new pres
dent OF the institution. is known
throughout the state, having been
successful Oklahoma Banker for
he last twenty wears. In that time
e has been the principal stock
Older and directing head of num-
rouS banks in the state.
Johnson Directed Campaign.
In addition to Mr.. Tohnson's bank
1g interests, he is one of the large
wners OF farm property and other
cal estate in the state. He was chair-
nan of the state democratic cam
aign committee in the recent cleo
ion and at that time added hun
reds of friends to his already largc
THROUGH his success
III and busireSS-like conduct Of the
ampaign. With Mr.. Tohnston'S
nusual successful experience. and
urrounded with such an execution
list of associates. there is no doubt
bout the rapid growth or standin~
{ the institution. The varied eX-
erience of the stockholders should
did to the successful conduct of the
usiness of the bank.
Montford NJ. Tones. newly elected
ice president of the bank is one of
ne wea'thiest oil producers OF the
tate. He is brother of B. B. tones
nd with his brother opened up the
)rumright oil fields.
7. w. Teter. the other new vice
resident. formerly was in the bank
lg business at Pawnee and is
nown THROUGHOUT the state as a
rcccssfuI and evorrienced banke-.
Doo,,1ar comment IN President