I guess this was okay back in the 1920's, when identity theft wasn't such a big deal. But nowadays, expect any sort of savings accounts information to be shredded when it's no longer in use. Perhaps it's a sign of a more innocent time and a more carefree time, considering that it was the roaring 20s.
While the adage of "Trash and treasure" come to mind, it's reflective of a completely different era. The seller gives a thorough history that is attached to the item, talking about how the Bank of Italy eventually became the Bank of America and was one of the few businesses to survive the earthquake of 1906.
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