During the winter months of the 1903–1904 academic year at New York University, the idea of starting a business fraternity was first brought up. One of the founding members later suggested that it was Frederic R. Leach who first developed the idea for formation of a fraternity. Leach and Jefferson, along with Nathan Lane, Jr. and George L. Bergen, came to be known as the "Brooklyn Four". These men grew to be close friends while attending night classes, and they walked home together each night over the Brooklyn Bridge, hence their nickname. As the spirit of brotherhood grew stronger in the hearts and in the minds of the men from Brooklyn, they decided to suggest to the other members of their class that something be done to perpetuate it. They received hearty support from the men approached regarding their idea, and by the end of April 1904, things were beginning to take definite shape. Before the academic term came to a close, a date was set for a meeting to take place at the Hotel Saint Denis in which a plan for the organization would be outlined.