Hey Pete,
So now that I am on terminal leave here at the end of my Marine Corps career, I have gotten back to Florida and am slowly digging through boxes of stuff we had packed away.
I found that Busby that is a spot-on twin of the one you pictured. It is identical. It has a nice lining inside, and a leather band marked:
SHOWERPROOFED BY
REG. U.S. PAT. OFF.
"CRAVENETTE"
THE MALLORY HAT CO.
I am thinking this is a hat worn by a doorman or bellhop from a 1940s or 50s era hotel, and was made and likely stocked by this company for sale to hotel chains needing to uniform thier staff.
Anyhow, I think I paid 10 bucks for mine. It will be used to display the elusive Busby cover if I ever run across one so I don't cover up my one and only German enlisted busby.
S/F
Bryan.