Due to the financial crisis, the Church Board of Education temporarily ceases financial support of the Church schools, and as a result approximately twenty stake academies are forced to close. In addition, "Young University" - which Talmage had been released from the Latter-day Saints University to oversee and which had been planned to open in the fall of 1893 - was postponed indefinitely, despite the building and preparations being planned.
[Chronology of the Life and Work of James E. Talmage, J. Trevor Antley, https://docs.google.com/document/d/1MJsHY83JZL_n6CjWq11y1trT_CVXMMXAx2uYOWAwn0c/edit#heading=h.2zfdaoa]
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