Apple v. American Nat. Bank

Jake L. Hamon owned 100 shares of stock in the Guaranty State Bank of Ardmore, of the estimated value of $15,-000. He owed the bank, on two promissory notes, approximately $40,000 when he died. The bank filed its claim with the administrator of his estate, which claim was allowed. The Guaranty State Bank was then converted into the American National Bank of Ardmore and the administrator of Hamon’s estate delivered the stock certifl cate in the state bank to the new bank for the purpose of having a stock certificate issued for a like amount of stock in the national bank. The bank .held both…