It means "befitting a lord or noble; stately, dignified."
There are other, less common compound words with "lord" in them, like:
* Lord-lieutenant: a high-ranking official representing the sovereign in a county.
* Lord-mayor: the chief magistrate of a city.
* Lord-protector: a person who governs a country or territory in the absence of a monarch.
* Lord-chamberlain: an official in the British royal household responsible for ceremonial matters.
Let me know if you'd like to explore other compound words! 😊