Moonbeam III is sometimes known as Moonbeam of Fife.
She was built in 1903 in the traditional way - oak frames, teak planking, freeboard in elm, deck beams in oak and teak plates - as opposed to the later Moonbeam IV which was composite.
She was very soon converted to yawl rig to improve her rating under the YRA rule.
20 years later her then owner (Johnson) commissioned Moonbeam IV, and the two yachts are still (2018) racing together in the Mediterranean.
The photo below shows her (sail no 88) with Moonbeam IV (sail no 8).