Clearly a library cancel - one that the library places in a book to show it's ownership. It is most likely used here to show that the postcard was genuine.
The handstamp and the postal cancellation have the same date.
I expect the handstamp and initials were used to show the sender's postroom that the item was approved to be posted (and have a postage stamp applied).
The 'oval' marking appears to be a company 'handstamp', which was most likely used on most of their mailings, and, possibly used as a 'receipt' marking in some instances as well?
Nigelc is right . If you look the library is in the institute of technology , can be check on google but I'm pretty sure it's a university wrtiting to another university . Someone also sign probably to aprrove
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