Sample knit with worsted weight yarn, US 8 needles
Depending on how you plan to use the stitch, you may want to add at least two extra stitches to the multiple (one edge stitch for the beginning and end of each row) to make working Rows 1 and 3 easier. I have added the edge stitches in my sample above as shown in the video, however there are no edge stitches represented in the instructions below.
When slipping, slip purlwise
Multiple of 2
Row 1 (rs): *sl 1 wyib, k1, yo, psso both the knit stitch and yo
Row 2: purl
Row 3: k1 *sl 1 wyib, k1, yo, psso both the knit stitch and yo; rep from *, end k1
Sample knit with fingering weight yarn, US 7 needles
Sample knit with worsted weight yarn, US 8 needles
And here are both - each sample is six repeats of the pattern. Hopefully you can see the difference in size between yarn weights. You don't need to use light weight yarn to knit beautiful lace!
I copied this off from an old newspaper; unfortunately the name and edition date of the newspaper do not show on the copy. I have a lot of stitches saved from a paper out of New York from the late 1800's, so my best guess is that this particular lace comes from an edition of that paper.
A note as to Row 4 - the instructions for Row 4 begin as follows:
"Slip the first stitch, knit the second and slip the first one over the second, leaving only one stitch on the needle. Knit the next stitch and bind it off in the same manner. Continue this binding off until there are but fourteen stitches on the left hand needle, which, with one on the other will make fifteen stitches, the number started with."
I tried Row 4 with the first stitch slipped and also knitted as I show in the video. I don't think it makes any difference whether or not the first stitch is slipped, at least I didn't see any. Also, you will be binding off 4 stitches - unless you've made an error in a previous row, binding off 4 stitches should leave you with the required 15.
Cast on 15 stitches
Knit one row - this set up row is not repeated
Row 1: k3, yo, k2tog, k3, yo, k1, yo, k6
Row 2: k6, yo, k3, yo, k2tog, k3, yo, k2tog, k1
Row 3: k3, yo, (k2tog) twice, yo, k5, yo, k6
Row 4: Bind off 4 stitches - you should have 14 sts on the left needle and 1 on the right - k1, yo, k2tog, k3, k2tog, yo, k2tog, k1, yo, k2tog, k1
Sample knit with worsted weight yarn on US 7 needles
Depending on how you plan to use the stitch, you may want to consider adding a few extra stitches for a border to neaten up the edges, and make it easier to work the sl 1-k1-yo-psso at the beginning and end of Rows 1 and 3.
Slipped stitches are slipped purlwise. Pattern begins on right side.
Multiple of 2
Rows 1 and 3: *sl 1, k1, yo, psso both the k1 and yo
You may notice in the video that for the first sl 1-k2tog-psso, I slipped the stitch knitwise, and in the two subsequent repeats, I slipped it purlwise. As you can see from the picture of the sample, there really isn't a difference in appearance based on how the stitch was slipped. Slip the stitch however you prefer for this stitch pattern. Generally, if a pattern does not state which way to slip, you should slip purlwise. When a stitch is slipped purlwise, the stitch doesn't change - meaning the orientation of the stitch remains the same. Slipping knitwise twists the stitch so that the left leg of the stitch is in front of the needle.