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"There are four notable races a year. The first is rowed in May for a banner of red and gold; the white and gold pennon and, as well, the green in August; the blue pennon in October."
Source:
The gondolier's sombre meeting room with regatta flags in a case against the wall. Photo by Gribayedoff.
Outing magazine, vol. LI no. 6, March, 1908, p. 649.