A Real Toughie Precancel

This one really has me puzzled.
Looks to me like at left it says ANCH with N. below that. At right it looks to me like ANCH with the beginning of an E after that & with the N. below.
Anybody got any ideas? Thanks in advance.

This is probably not a precancel. Most precancels will fit within the space of a stamp. There are a few which were meant for commemorative size stamps (think special deliveries or parcel post stamps) which MIGHT have been used accidentally on a definitive.

More likely, this is part of a boxed city cancel or slogan cancel and there isn't enough there to make it out.

Stampman 2002:
You must be right. Can't locate anyplace in US called Anch. Closest I came is Ancho, N.M., but there's definitely no O there. Several states have had P.O.s in towns called Anchor. Nope! Thought of ANGH instead ANCH. Nope! Even considered ANCH as an abbreviation for Anchorage, but the N. on the line below belies that.
I win some; I lose some.
Thanks for your help.

Could the far right letter be a squared off "U"? There are several roadways throughout the US that might fit: Anchusa Street, Lake Jackson, TX & Lewisville, NC; Anchusa Trail, Austin, TX; Anchuca Cove, Millington, TN and Anchura Court, Fort Worth, TX. The word on the left could be "Branch" and the post office name could have used the name of the roadway now or in the past when the stamp was current.

Could the first word be part of 'BRANCH'?

Ah, thank you both for your suggestions. Will get to work on both.

To debunk Baldeagle's idea - there would not be a street names in a typical cancel.

This cancel makes no sense as a precancel - especially one containing a complete town name. So for a different theory: a parcel post roller cancel. While most of rollers like the sketch below are professionally made to contain a small number of full impressions of the town name around the perimeter, consider if the circumference only fit 4.5 town name impressions from the rubber mat cemented around the circle. Using "East Branch" as a sample town, the "East Br" (in red) was trimmed off to make it fit cleanly. Thus a double "Anch Anch" on this stamp just perfectly containing the exact portion of the joint area. Ranch? Branch? Take you guess until someone finds a larger portion of the cancel.



So when the mat containing the 4.5 town names is glued to the circular base of the hand cancel the trimmed joint will leave a printed impression on a (yellow) stamp like:

Great explanation John!

Thanks. It may or may not be correct, but that is my best guess. But it still doesn't solve the riddle of Where?

Sounds like a darn good explanation to me, too!

...aaah, to find myself among the cognoscenti!

Matter of fact, to make John Becker's explanation sound even better, East Branch, N.Y. has a post office. Don't forget that N. in the line under the ANCH.
Can't say that makes it definitive, but a lot more likely.