Frances Willard was chosen as the new president of the College, and fundraising for the new College began, with the most prominent costs being those associated with the construction of the new building. A large celebration was held on July 4, 1871, titled a "Ladies’ Fourth of July," in order to fundraise a portion of these costs. The day included baseball games, comedy, a parade, and laying the cornerstone of the new edifice. Despite the success of this event, and other efforts to secure funding for the new college, the Chicago Fire of 1871 caused significant financial suffering for many of the donors and new sources of funding had to be sought out. This time, the call was answered by Stephen Lunt, who donated $50,000, from the proceeds of the sale of land in Rogers Park, towards the construction of the new building.