My daughter and I were transferring our recent non-online auction acquisitions to another album and saw this bleeding through. It kind looked like a watermark I was very curious as to what it was. We had another that did not show this and it made me open to reveal the apparent stationary/ letter head of INTER-OCEAN TRADING CO in California.
Just figured we would share it.
Sadly it's folded and has staple holes, but we still like it.