location was finalized, W.P. Blake, chairman of the trustees, and G. Lee Phelps, missionary to the Native Americans, visited the future building site. They gathered and arranged twelve stones, commemorating God's leadership of the Israelites across the Jordan River into the Promised Land. Plans for the administration building had been drawn and a contract for construction of the building had been signed on June 3, 1910. The total estimated cost to construct, equip, and furnish the building was $140,000. The trustees reported that the City of Shawnee "through its development company, gave to the denomination sixty acres of land worth $1,000 per acre and a cash bonus of $100,000". Dr. J.M. Carroll, San Marcos, Texas, was selected as the school's first president and construction on an administration building commenced in February 1911. The university opened in September 1911, holding classes for 150 students in the basement of the First Baptist Church and in the Convention Hall of Shawnee. Students came from other universities and preparatory schools, and at the close of the 1911–12 school year nine students received degrees. Included in the first student body were three men who later served as United States Senators: Josh Lee and Robert S. Kerr of Oklahoma and Huey P. Long of Louisiana. A general depression in the State in 1911 however had a negative effect on the finances of the BGCO, as well as the development company that had promised the $100,000 cash bonus, which it was unable to deliver, and construction on the Administration Building was halted. After the completion of the first school year in 1912 Dr. Carroll resigned and recommended that operations of the school be temporarily suspended. His recommendation was adopted and the university was placed in a period of "suspended animation" while further organization and fund-raising progressed. The report submitted by the Board of Trustees to the BGCO annual meeting in 1914 discussed the need for completion of the construction of the administration building and recommended the convention "begin at once to provide for the equipment of the building and make other necessary provisions for the opening of school in September, 1915". Frank M. Masters, pastor of the First Baptist Church of Ardmore and a member of the BGCO's Education Commission, was selected by the school's Board of Trustees as the president who would re-open the university. The Administration Hall (renamed Shawnee Hall in the 1920s) was finally