I am restoring an old chest and while removing a cover under the lid I found this label. As you can see, it's completely undecipherable except for "***halle & co." However there's another label underneath it. I wonder if I can separate them by putting it in water (like stamps off an envelope), but I'm afraid of destroying it if it has any value whatsoever.

The chest is made of wood and metal, but it's in a horrible state. Hinges and screws have been replaced prior to my owning, and the wood is damaged. I plan on restoring it, but would like to know it's history. Judging by materials and the label, I recon this is from 1900-1940s and American.