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Scrape that active rust off with a SE razor blade and then you will know more. Hopefully it is just a bubble on the surface. It will be interesting to see how this plays out. I would proceed with...

I think you'll find that that is very close to the window of speculation with razors most of the time. Somewhere between 10 to 30 years.
By the way, remember that website. He's a member of SRP...

This is from strazors.com. Here's the link.
STRAZORS.com - all about classic razors - Carl Friedrich ERN, Solingen-Wald.

1893 was the year the hexa machine was introduced but I think you're right...

My guess is they didn't know what they had. Man, where am I when these things show up? Speaking of which I hope someone here got that lot of 32 I think that had the Wade and Butcher FBU in it....

Yeah I agree with Aggelos. That was the first one my eye went to. I'm not sure what you paid for that lot but the value of that one alone probably far outweighs it. Most are probably mid to late...