You won't believe who was making 78 RPM records in an uglier time in our nation's history. I even ran into one of these in a musty pile of 78s at a flea market in Spokane, WA in 1998.
I did some research and to my surprise, these records were custom pressed by Gennett Records of Richmond, Indiana, ironically the biggest independent jazz label in the Midwest during the 1920s and the original label home of Louis Armstrong, Jelly Roll Morton and King Oliver.
This actually wasn't uncommon, as very few labels then had any restrictions on the kind of material one could record for their custom records division. As long as it didn't bear the name of the manufacturing label, anything goes.
I love the hysterically self righteous generic name of the "performers" on this record; "100% Americans with Orch. Acc." Sounds like one of those pretentious right wing "town hall" meetings.
I can only imagine Louis Armstrong, or King Oliver's band, sitting opposite the "100% Americans", all dressed in their sheets in the hallway outside the Gennett studio, all awaiting their turn to cut records. I wish somebody had a camera ....
More on this record here (Story begins @ 20:00): http://www.pbs.org/opb/historydetectives/video/2256476136/