Page 168 - Buck Tilton - Outward Bound Ropes, Knots, and Hitches 2 ed.

Take the working end around the standing part
and up through the loop.

The midshipman’s hitch is another misnamed knot. Not

actually a hitch at all, the knot is a slide-and-grip loop that
can be adjusted when something needs to be suspended at

a specific height or a line needs to have slack taken out.
When a load is applied to this knot, it deforms the standing

part of the line at enough of an angle to cause the knot to
grip firmly. When the load is off, the knot slides freely. If the
working end is left long enough, a stopper knot can be tied

around the standing part of the line, giving this knot a
semipermanent position on the line. This knot may be used

by campers to add tension to tent lines and by climbers to
hang gear.

There was no officer more junior in the British Royal Navy
than one with the rank of midshipman. The name of

midshipman’s hitch suggests a knot of naval birth that
performs less than perfectly. The knot, however, deserves a
high rating in utility.