Holt recalled that, in late 1864, one member of the club had suggested that a university club be created. Joseph Kernochan died in late 1864 and the estate was broken up, including the family's Second Avenue house. Francis and his brother J. Frederic took rooms on 12th Street, where the Red Room Club continued to meet through early 1865. Incorporation and early difficulties The University Club of the City of New York was officially incorporated on April 28, 1865, by act of the New York State Legislature. The club was incorporated "for the purpose of the promotion of literature and art, by establishing and maintaining a library, reading-room, and gallery of art, and by such other means as shall be expedient and proper for such purpose." The founding members had graduated from various colleges and universities in addition to Yale. The club's first president, Theodore William Dwight, was a Hamilton College alumnus and a professor at the Columbia College Law School. George Van Nest Baldwin was the vice president, Theodore B. Bronson was treasurer, Edward Mitchell was secretary, and the founders listed in the acts of incorporation were appointed to the club's council. The original constitution did not appear to have initiation fees and the club seems to have not restricted membership based on how long ago a member graduated from a college or university. Nonetheless, membership was restricted to men. After incorporation, the club officers wished to collect $4,500 from members to raise money for a clubhouse. In November 1865, Dwight announced that all membership dues had to be paid immediately, but that less than half of members had paid their dues. The next month, the club was able to sign a short-term lease at a townhouse on 9 Brevoort Place. This clubhouse was on what is now 10th Street east of Broadway. In its first year, the University Club had over 100 names on its rolls. The club had so little money, the townhouse's landlady agreed to accept $750 of the $1,250 lease payment. Disputes over financing continued through 1867, even though the space was subleased to Loyal Legion, which similarly had low finances. Having no money to pay off outstanding debts or lease space, the University Club moved out of Brevoort Place in late 1867. The club was nearly dormant for the next twelve years, with low membership and no permanent clubhouse. In 1869, the club met