Class officers elected for the first time – James Robert Gardner is the first Senior Class President in the history of Lambuth College.
Issues arise in paying salaries and bonds; students have issues paying bills; a barter system is organized to help students, faculty, and staff. President Womack and his family, and the school faculty and staff, begin eating in the dining hall at Lambuth College because of financial hardship. The College is supplied with provisions through a barter system with businesses of Jackson; students do any kind of work to cover tuition; salaries are rarely paid.
The Lambuth College Roll Call is established, providing for the collection of $1 from every church member in the Memphis Conference; the Memphis Conference sells $75,000 in bonds to help pay for Lambuth College expenses.
Efforts to refinance Lambuth College indebtness fail; teachers' salaries are cut; the Memphis Conference Board of Education recommends conducting a Lambuth College Crusade led by Bishop Darlington to pay off the College mortgage.