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Todd I think I know who the publisher may have been, and I think Bob Lemke has a good idea too, although I've never spoken with him. Hint: It's the same publisher (imho) of the m101-6 set, or at least the initial iteration of that set.
The m101-4s were not released by the Sporting News until August, 1916. This is far into the baseball season, so it's not unreasonable to suspect that a prior version or two preceded it. However, when I looked at old microfiche of TSN from 1915 and 1916, I saw no prior advertisements or notices that the cards were coming from that periodical.
I would really appreciate some help on my research into these sets. Does anyone have a m101-4 Del Pratt card?, if so, please provide a scan. Also, I would like to know if anyone has a m101-5 card of one of the players who appeared only in that set-WITH a Sporting News back. Let me know if you need a list of those players exclusive to m101-5.
Paul, the player selection is just about as mysterious as the rest of the questions surrounding these sets. Although you are right about Wallace being on the way out, and m101-4 appears to have replaced several players in that capacity, m101-4 inexplicably added Josh Devore, who hadn't played (and would not play thereafter) a game in the Bigs after 1914.
Todd