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YMKG purchases its first ship at a cost of $3,150. The three-masted, oak-beamed schooner, William Bisbee, became the José Gasparilla I. This ship had a 33-foot beam with a length of 143 feet.

The Krewe begins the King’s Ball, a dance held annually in the spring. The traditional King’s Dinner was sometimes held the same night as the Ball and sometimes one week prior. The King’s Ball was discontinued in the 1960s; however, the King’s Dinner has continued, as each new King hosts an elaborate dinner for his court, past royalty, and other special guests.

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