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likely made in the early to mid-1920's
Spencer-Churchill
I will quote Marty here since he says it as well as anyone could: "Rarely seen in any condition are EF Payne rods
Cigar grip with a cap and ring reel seat over a lightly varnished Spanish cedar spacer
Ferrule fit is excellent
Bill Ballan 2 1/2" Fly Reel EF Payne Rod Company likely made in the earlyFor sale here is a Bill Ballan Fly Reel excellent condition. Set up for RHW. 2 1 2" diameter, 3 4" spool width. Weighs 4 3 4 oz.
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