Williams No. 39?

[Rowdy]

I found this badge/tag in my folks yard today. It appears to be aluminum, and the lettering says:

Williams
No.39
White ?ule

I can't read the first letter of the last word, but it's either R or B. I'm betting it says "white rule". The penny is just for scale. Sorry for the crappy pic, but I had a hard time getting the camera focused.

Aynone know what this may have come off of, and when?

Thanks!