Sentence:  Whenever he saw the schapskas and lances he would be cautious; when these lances were <WSD>pennoned</WSD> with black and white, and when the schapskas and schabraques were edged with yellow, he would keep out of the way altogether. 
Meaning of the word marked with <WSD> tags:  Bearing one or more pennons (of a pole, spear, mast, etc.).