For more than half a century, poets and playwrights at the forefront of the American artistic scene sought sophisticated, appreciative audiences by coming to Cambridge to present their works.

And, for more than two hours last night, many of those same artists returned to Cambridge to reminisce about the now-defunct Poets' Theatre, which was home for an experimental drama and poetry group that performed from 1915 until 1968.

"The Poets' Theatre stood for bringing the words of poetry off the page and into the mouths of actors and the hearts of the audience," said noted playwright and poet Donald Hall, who was involved with the group in the 1950s. "It was part of a remarkable time in Cambridge."

Last night's speakers addressed an audience that filled Agassiz Theatre in the first part of a two-night program. Tonight, scenes from plays first performed at the Poets' Theatre will be presented. The program is part of a two-day celebration of "Poets' Theatre Days," proclaimed by the mayors of Boston and Cambridge and by Governor Dukakis.

"The Theatre served as an oasis and a seedbed for ideas," Nora Sayre, a journalist and drama critic, told the audience. "It was a home for writers and performers when artists were considered oddities."

Working with the theatre, she said, gave her a "premonition of the off-off Broadway movement. Those involved had an appetite for experiment and cultural rebellion, and they would try absolutely anything."

William Alfred, Lowell Professor of the Humanities and author of many pieces performed at the Theatre, served as a member of the"Resurrection Committee" responsible fororganizing the commemorative event. In hispresentation, he praised the unity of the companythrough the years despite artistic differences."They fought like wet cats," he said of thecontributing artists. "But they had a sharedvision."

"We were connected by our vision," said Hall."It brought together theatrical people and poets."

The theatre existed on the verge of bankruptcyfor most of its lifetime. Actors and poets often"sewed their own costumes while learning theirlines," said Sayre. "But they saw a thrill inpresiding over abject poverty."

Last night's crowd was given an eerie reminderof the theatre's fate when the program wasinterrupted by fire alarms from within thetheater, forcing the assembly to file onto thelawn to await the fire company.

The Poets' Theatre burned to the ground in thelate 1960s, and while some people continued itsperformances elsewhere, it was "never the same,"said Master of Ceremonies Peter Davison. "The firespelled doom for the group."

"If the Poets' Theatre had been aswell-equipped as this one, it might still bearound today," said Davison when the audiencereturned to the theater