Worlds of Ultima: The Savage Empire/Weapons and armors

Each character can equip up to four items: a weapon, a shield, an armor and a necklace.

Also, characters have four equipment slots that are unused in the game: headgear, footwear, left ring and right ring. These are "leftovers" from the Ultima 6 game engine.

Weapons
The attack value of the weapons is approximate, and based on the ranking of the manual.

Shields
Shields can be equipped only with a one-hand weapon.

Necklaces
Apparently, necklaces have no effect. Still, there is an equipment slot specific for them.