Brothers Willard and Richard W. Young called and submitted a draft of a deed for the proposed university. We approved of it. There was some discussion concerning the name. They both favored calling the university 'Young University'. President [Wilford] Woodruff, Brother [Francis M.] Lyman and myself thought that would be a very good name. Brothers Lorenzo Snow and Jos[eph]. F. Smith did not seem to favor that name. They thought 'Brigham Young University' would be better. Brother [Heber J.] Grant did not express himself fully, though I rather think he favored the latter. The two points in my mind which made me favor calling it the 'Young University' are that the heirs seem to desire that name, and the name 'Brigham Young' is applied already to the college at Logan [Utah] and the academy at Provo [Utah], and the tendency would be instead of calling it 'Brigham Young University,' to call it the B.Y. University.
[George Q. Cannon, Diary, as quoted in Minutes of the Apostles of The Church of Jesus Christ of Latter-day Saints, 1835-1951, Electronic Edition, 2015]