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A nice Leonard 38H fly rod, 7' 2-piece, 2-tip built for a #4 line. Serial #567. Unusual oxidized hardware to go along with the classic red wraps. This rod looks to be from the pre-fire period at Leonard. 3 up node pattern construction. 10 cork 5" cigar grip shows some roughness from cleaning. Butternut slide band cap-and-ring seat. Butt cap die stamp reads "HLL, H.L. Leonard rod co, makers" in cartouche. The cap and ring were oxidized but only 5 to 10%. Shows moderate use for a rod of this age. Original tube but non-original bag.