Franklin Leads Academy During Trying TimesWhen President Brown resigned in the spring of 1927, the Board of Trustees elected as his successor a man who had been a member of the faculty since 1920, Colonel Jesse Franklin, the first member of the faculty to be elected to the position of president. Under his leadership, freshman college work was offered for several years by the Academy.
The classes were conducted by the faculty of the Academy, and students completing the courses satisfactorily received credit toward a college degree. The Extension Bureau of the University of Texas authorized the organization of classes in mathematics, history, and Spanish. Baylor University authorized the organization of classes in English through the Extension Bureau. This program was discontinued after a brief time.
The next few years were critical ones for our Texas private boarding school. Businesses were not prepared for the national economic crash which occurred in 1929. The enrollment dropped sharply as family incomes were reduced, and gifts were greatly curtailed. The academic standards of the school were maintained at the usual high level though serious financial difficulties began to arise, forcing the Academy into debt; and when President Franklin resigned in the Spring of 1931, the school was in serious financial condition.