Mark you are right, there are definetly subtle differences between the two tags, but I do think that red tag could be 1920. I am however not certain because can't match it exactly. I have seen a few script Spalding variations from 1920.
My guess is still earlier generic Giants pennant, but I need to see if I can find that matching red tag in another 1920s or 50s example to be more certain.
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