Captain Edward Baletti Sr.'s "PALACE III" from Hoboken, NJ circa 1949. She was built in 1942 at East Greenwich, RI, as the US Navy Submarine Chaser "SC-1322". The US Navy gave her to the Baletti family after World War II as compensation for damages done to the converted steam yacht "PALACE", which was seized for the war effort. She sailed from Hoboken until the late 1970’s when she was sold, relocated to Florida and renamed "THE LORDS MERCY".