In late 1907, TKE was preparing to petition Phi Delta Theta once again at the 1908 convention when an event took place that would forever change the course of history for the fraternity. At the annual initiation banquet on October 19, 1907, speeches were made that both advocated and questioned the continued petitioning of Phi Delta Theta. At the banquet, Wallace G. McCauley delivered a blistering speech known as "Opportunity Out of Defeat". The powerful address called for an abandonment of the petitioning initiative and a new campaign to make TKE into a national fraternity itself. While there was some opposition at the time, the movement ultimately took hold, and by 1908, TKE was well on its way to becoming a national fraternity in its own right. The speech was published in the first issue of "The Teke" in January 1908, and by November of that year, work was beginning on a new constitution. At the chapter meeting held on Monday, February 15, 1909, the new constitution became official. The first Conclave of the Grand Chapter of the new national fraternity of Tau Kappa Epsilon convened on February 17, 1909.