President Holmes served Iowa Wesleyan from 1866 to 1869. Charles Avery Holmes D.D. of the Pittsburgh Annual Conference was made president upon the retirement of Dr. Elliott in 1866. He continued to attack the financial problems that plagued the University. Fortunately, the end of the Civil War increased the enrollments and in 1869 for the first time in the University’s short history, there was a small surplus in the operational account. The first great financial crisis was over when Dr. Holmes resigned to return to pastoral work. During the next year, Senator Harlan once again assumed the presidency.