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That's a badge off of a Spalding bicycle. Here's a link to pics of same. Gary
https://www.worthpoint.com/worthopedia/antique-bicycle-badge-spalding-400321766
Cool find.
Albert Spalding founded the company in 1876 in Chicago, initially specialising in the manufacture of baseball equipment. From around 1892/3, as A.G Spalding & Bros, they expanded to the manufacture of other sporting goods and equipment. Up until that point, they had also been sole distributor for high quality Bicycles made by the Overman Wheel Company of Boston but the two companies had a serious falling out which prompted a series of expensive lawsuits.
Spalding had begun making their own bicycles at their factory in Chicopee Falls in direct competition with Overman, and under-cutting their prices. Overman retaliated by invading all of the sporting markets in which Spalding had been operating. It was a commercial battle in which Overman was the loser. They almost went bust in 1897, didn’t really recover from a factory fire in 1899 and were sold in 1900. Spalding went from strength to strength, but sold their bicycle division to the American Bicycle Company in 1899.