Posted By:
Alan ElefsonHi-
Those are Tobacco company leather inserts from circa 1910. The nonsports forum on Net54 (click on the link at the top of the page) has several threads about these. Bob Forbes and Dan C have extensive collections of these (and I think Bob is writing a book on them), so definitely post these over there. Also, if you click on the gallery link on the Nonsports forum you will probably find many scans of similar leathers (and be able to determine if the holes are supposed to be there).
Good luck,
Alan