Fantastic reveal from St. Petersburg (Texas, not Russia). Three brands once resided in the building: Ermatinger hatters; Hayward’s toy shop; and the Wisteria confectionery company. Given the equal portion of wall space allotted to each business it is likely they split the cost of this sign three ways. It has been dated to 1929 and some additional research, including a visit by Ermatinger’s descendents, can be found in this article.
The photo above by William Mansell can be found with one other on this page.