This Wright golf tee is embossed "Wright Golf Tee, Pat Apld For," and appears to be made from vulcanite, or some other type of hard rubber.  The Label on the tee, which includes a green alignment arrow, reads:

"Aim your tee - You are bound to drive true.  Indestructible.  Lasts whole season.  Wright Golf Tee.  Height exactly right.  Protects face of driver. Reduces slicing. Gives greater distance.  Assures accuracy.  Use with pivoted ball rest in upright position."  

The "Pivoted ball rest"  that holds the ball could pivot down upon impact, as there is room for it to do so. Today, the pivoting tee seems set fast in its upright position from the years and years of not being used.  Across the very front portion of the tee there is a repaired crack. It is not noticeable when displayed, but clearly there when you look closely at the tee, as the picture shows.

The name of the maker of this tee, "Tee Manufacturing Co.  Cleveland, Ohio," is molded into the underside of this tee.