This section is from the book "The Steward's Handbook And Guide To Party Catering", by Jessup Whitehead. Also available from Amazon: Larousse Gastronomique.
Commence this design by opening out the napkin with points to and from and right; and turn down all the corners to the centre, thus reducing the square smaller, turn the napkin over to the right, keeping the points in the same places as at commencement; it then appears like fig. 1, except that the points are all underneath. Next turn up the point nearest you marked A by dotted line to B.
You now get fig. 2; and in this figure turn down the uppermost of the two top corners marked A by dotted line seen about three parts down shown in diagram; it then forms fig. 3. Turn the napkin over to the right. You then get a similar figure to last. Turn down the top point A to bottom point B, and it forms fig. 4. Now turn the napkin over towards you, and the points will then be a top like fig. 5. In this figure all that remains to do is to turn down the uppermost top corner, and turn the right-hand corner "B underneath by dotted line until it reaches centre of points. Put back the point just turned down from top. You then still have two points at top. Turn the napkin over to the right, and do the same with the other corner, which is now to the right hand, by tucking it underneath the uppermost top corner; and the Cap is complete by setting it up like fig. 6, showing it finished.
In commencing this beautiful fold, you must open a napkin out square in front of you, and turn down top edge by the middle until it reaches the bottom edge near you, then take the left side A A in fig. 1 over to right side B B by dotted line X X; you then still have a square napkin as at commencement, only a reduced size. The four points of the napkin are now at right-hand bottom corner, which points must be moved pointing directly towards you, as depicted in fig. 2: and in this diagram fold the napkin in half, taking the part marked A near you to top corner B by dotted line X X, when it will then resemble fig. 3. Proceed to turn the right-hand side by dotted line to centre X X, and repeat the same with the left hand; you then get fig. 4. Turn the whole over, and turn up the bottom points A A by line X X in fig. 5, and close it like a book by the centre, and you then get fig. 6. If you look carefully at the top corners of this diagram you will see there are four points, indicated by the figures 1, 2, 3, 4. Turn the napkin on the edges on left side of fig. 6 marked A A, or hold the napkin by the same edges in the left hand, and commence to pull up the points, with No. 1, continuing with the other numbers until they are all standing up, as seen in fig. 7; those points give the appearance of sails.
The yacht is then finished, and a little manipulation with the fingers and these points can be made to have a very pretty effect.