Philco Hi-Hat Club Tie

This is a very interesting tie that I found at a local shop. I could find very little information. The info that I found follows...

OK... I took the word "ugly" out of the title!

From the internet:
The Philco Hi Hat Club was a club for sellers of Philco products (radios, tubes etc) - the more you sold, the more gifts you could receive. Philco always placed great emphasis on sales, establishing a quota system early on - if a dealer did not sell their quota, they might lose their Philco franchise.