This cleverly designed tri-fold invitation was produced by Dennison and first appeared in their 1916 Bogie Book. Considering how clean this example is, I feel the buyer snagged it at a bargain price. Although the SGV is $165, I've seen these trade for up to $225. I like the nearly faceless ghoul holding a parade lantern. This Dennison treasure has eluded my grasp all these years. I had seen this but forgot to add it to my Watch List.
Mark B. Ledenbach's vintage Halloween collectibles blog.