[southwestforests]

I found the illustration in context, with text,
Airmanship 2 Leading Cadet Training Rules of the

An airship in flight, has WHITE lights fore & aft, GREEN on top & and RED below. A stationary airship, has WHITE lights fore & aft, with two RED lights below.

However ... recent documentation from Germany supplied to the US's FAA is more in line with fixed wing aircraft, https://www.faa.gov/aircraft/air_cer...pTARIssue1.pdf

Transport Airship Requirements March 2000
Foreword
1 The Civil Aviation Authorities Luftfahrt-Bundesamt of Germany and Rijksluchtvaartdienst of The Netherlands have agreed common comprehensive airworthiness requirements for large airships to accomodate Type Certification applications for such aircraft in their countries. The new category Transport Airships is defined in Appendix C.
2 Existing airworthiness codes FAR P8110-2 of the Federal Aviation Administration of the United States of America and JAR-25 of the Joint Aviation Authorities of Europe have been selected to form the basis of these Transport Airship Requirements (TAR).

TAR 1385 Position light system installation
General: each part of each position light system must meet the applicable requirements of this TAR and each system as a whole must meet the requirements of TAR 1387 through TAR 1397. Position lights must be distributed in such a way that no aircraft crossing the airships flight path might endeavour to fly between bow and stern position lights.

(a) Bow position light: the bow position light must be a white light mounted as far forward as possible on the envelope and must be approved.

(b) Forward position lights: forward position lights must consist of a red and green light spaced laterally as far apart as practicable and installed on the widest forward part of the airship so that, with the airship in the normal flying position, the red light is on the left side and the green light in on the right side. Each light must be approved.

(c) Rearward position lights: rearward position lights must consist of a red and green light spaced laterally as far apart as practicable and installed on the widest rearward part of the airship so that, with the airship in the normal flying position, the red light is on the left side and the green light in on the right side. Each light must be approved.

(d) Stern position light: the stern position light must be a white light mounted as far aft a practicable on the tail and must be approved.

(e) Circuit: the bow position light, the two forward and rearward position lights and the stern position light must make a single circuit.

(f) Light covers and colour filters: each light cover or colour filter must be at least flame resistant and may not change colour or shape or lose any appreciable light transmission during normal use.