Mark variant 1

Five discrete outlined punches preserve their circle/oblong border shapes, characters, and left-to-right sequence.
Medium confidence comparison reconstruction.
Maker's mark comparison reference
Compare 1 source-linked mark variant recorded under William Tay & Son Ltd. These are reconstructions for comparison, not source photographs or authentication evidence.

Five discrete outlined punches preserve their circle/oblong border shapes, characters, and left-to-right sequence.
Medium confidence comparison reconstruction.
Maker labels and date or location statements follow the cited source records. Similar names across source collections have not been merged. Compare the photographed mark and the complete object before relying on a resemblance.
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