An extremely rare 3 1/8’’ Hardy  Alloy Contracted Drum Perfect  trout fly reel with ivorine handle, Rod in Hand trademark, enclosed oval and straight line logos, important transitional reel with replacement brass foot, drum caged  and with large and small perforations, flat bridges each with two holes, raised and incised 1 7/18’’ central feature on face. Fixed 1896 check, no tension adjuster, no ball race, only raised, cone shaped brass bush, circa 1899.