This has me frustrated, partly because I'm from Seattle, and I usually have some idea about labels from there, and partly because I swear I've tried to figure this out before but can't find any evidence. Ge??? Paulson It is in a dress and jacket set
The original nomination application for the Olympic to be in the National Register of Historic Places mentions that "along the mezzanine were originally located specialty shops". Seems likely that this came from one of those shops.
It appears to be Gen-Paulson, for owners Gen Newcomb and Helen Paulson: from a 1958 Seattle directory.
Genevieve Newcomb was born Genevieve Paulson in 1899 (and died in 1977) and I believe Helen was her sister. I found Gen-Paulson in the 1948 Seattle directory, but the only directory I found before that was 1942, at which time Gen Newcomb was working somewhere else.
Everyone, I thank you so much for your ideas...and Maggie, you seem to be right. Lynne! Thank you for all the details! I would love to have visited the Olympic in the 1950s.