This report describes in detail with photographs and cross‐sectional views an x‐ray tube with a gyrating water‐cooled target which the authors have operated continuously for periods of hours at 287,000 volts and 105 milliamperes. The theoretical predictions of DuMond, Watson and Hicks as to the ratio of safe load in moving and fixed targets seems to be roughly fulfilled by these results. The computed power output in the form of x‐rays alone is some 3/4 kilowatt. The report further describes in detail the power supply equipment consisting of a synchronous motor driven 40 kw motor generator set giving 150 cycle current both half‐waves of which, after transformation to high voltage, are rectified by two thermionic valves (filament emission 2 amperes maximum) of our own design and construction here fully described. The powerful electrical filter system to reduce the ripple to a low value and some technical problems arising from the large power rating of the equipment as well as the facilities now almost completed for stabilizing and measuring precisely the high voltage supplied to the x‐ray tube are discussed. At the outset a brief indication of the program of research work projected for this set is given.