A very nice EF Payne model 98 fly rod, 7', 2-piece, 3-tips built for a #4 line. Very nice DF action. 3 ounces. Refinished. Sold by Clapp and Treat in Hartford, CT. Decent varnish. The main wraps are brown with yellow edges. The extra band at the keeper and male ferrules is purplish. The rod has been re-done with an agate stripper and period snake guides but the tip tops are modern large hoop. All sections are full length and I see no damage to the cane anywhere. One male ferrule is a replacement (a very good copy though) as it was pinned and is tighter than the other two. The other two show some wear but are perfectly functional and fishable. The oxidation on the hardware is 100%. 5 1/2" medium cigar grip that has been replaced (Clapp and Treat always had a thin band of lignum vitae wood in the middle of the grip). The reel seat is a cap and ring over walnut. The butt cap has the older "EF Payne, Rod, EF Payne Rod Co, Makers" in a cartouche and on the reverse "Sold by, Clapp and Treat Co, Inc, Hartford". The rod packs in a high grade poplin bag that comes close to matching the original. The tube looks to be original but the brass cap has lost the felt. This will be a very nice fishable 98 for someone.