I can't add all that much. The Frasek Company was around since at least the 1930s through at least the 1970s. Here's a cover being sold on eBay that refers to the company name as the addressee:
http://www.ebay.com/itm/US-C23-on-1...em339173b00aBy the looks of internet search engines, it would appear they specialized in approvals back in the day, which was very typical of the time.
Incidentally, the addressee on the cover shown in the original post, Marion V. Button, is noted to have died in 1990 as confirmed by this link:
http://www.findagrave.com/cgi-bin/f...Rid=16301135