Franklin Buchanan (800-74) was president from 868 to 869. A native of Baltimore, Buchanan had been the first superintendent of the U.S. Naval Academy and the highest-ranking officer in the Confederate navy.

He reinstituted the preparatory school, reduced tuition and rehired a science professor. Enrollment rose to 6 students.

Inquiries by the trustees revealed that Buchanan had committed the institution to approximately $6,000 in debts. Shortly thereafter, he resigned and moved to Alabama to serve briefly as head of an insurance company.