I have since found the missing piece, but lost it just as fast! This seems to be early auto racing related. It reads, "John _______Speedway, Philada. & New York"
Might it be railroad related? Apparently, there was a railroad speedway that ran through NJ that connected PHILA and NY. The following Google Book result says that section of track as "historic"
PBK, I think you i.d.'d it. A bicycle badge! There was a "speedway" and the name at the top could possibly be John Wannamaker. I never even considered anything but auto. Good call!