Having defeated the Royal Yacht Squadron’s Valkyrie II with Vigilant in 1893 Nathanael Greene Herreshoff designed and built Defender 2 years later to defeat the keel cutter Valkyrie III in 1895, the 10th defender of the tenth America’s Cup. Defender defeated Vigilant to earn the right to defend the Cup in 1895. Later, Defender was towed to the residence of owner, C. Oliver Iselin, in New Rochelle, where it remained docked for four years. J. P Morgan and W. Buttler Duncan purchased and prepared Defender to race trials against Columbia in 1899. Valkyrie III was a keel cutter, designed by George Lennox Watson. It was built at the D&W Henderson on the Clyde in 1894-1895 for a syndicate including Lord Londsale, Lord Wolverton, Captain Henry McCalmont and headed by Lord Dunraven of the Royal Yacht Squadron. Valkyrie III had a steel frame, a hull planked with American elm and teak, and a pine deck. In a controversial series the English boat not only failed to distinguish itself but having been disqualified early on then refused to race – a unfortunate claim of cheating was made by Lord Dunraven which nearly caused an end to the Cup competition.