Paine & Co, St. Neots Bag Seal, Image by StuE, Found by Aurelius.
One side has PA(INE) curved above & Co with a dash beneath the o in Co. The other side has ST NEOTS with a half size capital T in ST.
The following is taken from the Town Council's history of St. Neots "Other industries included Messrs. Paine & Co, Brewers of national repute."
The following is from Wikipedia History of St Neots
"James Paine acquired Foster's brewery in the Market Square in 1831."
From the curators of St Neots museum:-
Paines ran their brewery on the Market Square until 1980s. They also ran a flour mill in Bedford Street, and 'John Bull' malt extract and malted flour seemed to be a particular speciality. We have quite a number of items in the museum collection connected with Paines. There are also records in the County Record Office in Huntingdon. A good general description of the company is given in CF Tebbutt's book 'St. Neots'