298 BANQUET. 



corded the very great privilege of joining with you in acclaiming our retiring president, and 

 showing our appreciation of the continuous and splendid work he has done for this Society, 

 and, through the Society, for our whole nation. Gentlemen, I ask you to rise and express your 

 regard and esteem for our retiring president. Commander Stevenson Taylor. 



The entire company arose, amid great applause, and gave three cheers for Commander 

 Taylor. 



President Taylor : — Admiral Capps did not tell you the whole story of the Council 

 meeting on Wednesday. He only mentioned the small part I played in it. He tried to 

 initiate about four years ago an endowment fund for this Society that would eventually grow 

 to afford a sufficient sum so that we cguld do what we desired in the way of giving prizes, 

 the entertainment of foreign guests, or what not, that might arise, which would otherwise in- 

 volve an outlay for which individual subscriptions would have to be solicited. That scheme 

 fell upon bad times — ^the war broke out, and shipbuilding fell down to 225,000 tons a year 

 instead of 500,000 tons a month, and the matter was postponed until last Wednesday, at the 

 Council meeting, when Admiral Capps brought up. the subject again. We found that we had, 

 by al ruling made a few years ago, about $18,000 already in the endowment fund, so he asked 

 the members of the Council to make that at least $25,000, and they did that right on the 

 spot. They have not asked any member outside of the Council for any contribution; your 

 turn will come some time in the future. That, it seems to me, illustrated the deep thought and 

 great interest in this Society that Admiral Capps has held for so many years, and I want 

 to say that no other one man in this Society has given it so much personal, careful consid- 

 eration. That is not known to the members at large, but is known to me, who have been 

 close td him all these years — no man has given so much thought, which has been so well di- 

 rected and borne such fruitful results in the advancement of this Society, as Washington 

 Lee Capps.. (Applause.) 



And now, gentlemen, I have two or three words of thanks to say to you all. I have en- 

 joyed the work as president of your Society. Having worked particularly hard recently, I 

 am naturally glad now to be relieved, but I will never lose my regard for this Society. I 

 will never decline to do anything I can to advance its interests and I will always hold in my 

 heart charming memories of the very many, many friends I have made, friends that still stand 

 by me to the end. (Prolonged applause.) 



This meeting, is adjourned. 



The company then dispersed. 



