This lace pattern was first published in The Queenslander on May 27th, 1911
I have updated the language used in the pattern, charted it, tested it with a stitch map and knit it to test for errors.
In Words
Cast on 26sts and knit one row
Row 1 (RS): K3, yo, [k2tog] twice, yo, k1, k2tog, [yo] 3 times, [k2tog] twice, yo, sl1-k2tog-psso, yo, k1, k2tog, [yo] 3 times, [k2tog] twice, yo, k2 (27 sts).
Row 2: K6, p1, k9, p1, k6, yo, k2tog, k2.
Row 3: K3, yo, k2tog, k2, yo, k2tog, k3, k2tog, yo, k3, yo, k2tog, k3, k2tog, yo, k2tog, k1 (26 sts).
Row 4: Knit to last 4 sts, yo, k2tog, k2.
Row 5: K3, yo, k2tog, k3, yo, k2tog, k1, k2tog, yo, k5, yo, k2tog, k1, k2tog, yo, k2tog, k1 (25 sts).
Row 6: Knit to last 4 sts, yo, k2tog, k2.
Row 7: K3, yo, k2tog, k4, yo, sl1-k2tog-psso, yo, k1, k2tog, [yo] 3 times, k2tog, k2tog, yo, sl1-k2tog-psso, yo, k2tog, k1 (24 sts).
Row 8: K8, p1, k11, yo, k2tog, k2.
Row 9: K3, yo, k2tog, k2, k2tog, yo, k3, yo, k2tog, k3, k2tog, yo, k3, yo, k2 (25 sts).
Row 10: Knit to last 4 sts, yo, k2tog, k2.
Row 11: K3, yo, [k2tog, k1, k2tog, yo, k5, yo] twice, k2 (26 sts).
Row 12: Knit to last 4 sts, yo, k2tog, k2.
Rows 1 to 12 form the pattern. Repeat for the desired length.
Charted
Cast on 26sts and knit one row
Rows 1 to 12 form the pattern. Repeat for the desired length.