Payne 204 Fly Rod 8'6" 3/2 #5 7'11" and a clear ring stripper

and a clear ring stripper

Mechanically sound with a smooth click drag

both Native and commercial

A gorgeous Mulholland Brothers Latigo leather reel case (formerly Holland Brothers)

Marked 38-4 on the wrap flat (the keeper is also on the wrap flat)

Payne 204 Fly Rod 8'6" 3/2 #5 7'11" and a clear ring stripperA nice Payne 204, 8'6" 3 piece and 2 tip for a #5 line. Good original condition. Shows signs of light use, i. e., some brassing of oxidation and some bag imprint, but the varnish is not gummy. All sections are full length with tight fitting ferrules. Wrapped brown with black edges. Agate stripper. Spanish cedar slide band seat. Butt cap stamped "E. F. Payne" and on the reverse, "Sold by H&D Folsom Arms Co, E. F. Payne Rod Co New York, Makers".