The Collaborative International Dictionary of English v.0.48:

Laced \Laced\, a.
   1. Fastened with a lace or laces; decorated with narrow
      strips or braid. See Lace, v. t.
      [1913 Webster]

   2. Decorated with the fabric lace.
      [1913 Webster]

            A shirt with laced ruffles.           --Fielding.
      [1913 Webster]

   Laced mutton, a prostitute. [Old slang]

   Laced stocking, a strong stocking which can be tightly
      laced; -- used in cases of weak legs, varicose veins, etc.
      --Dunglison.
      [1913 Webster]