Spalding waterfall backspin irons were produced primarily in 1920 and 1921 under a patent issued in 1919 to William F. Reach. They were designed to add backspin to the golfers shots, be it a traditional strike or a cut shot. This example is stamped "Spalding Kro-Flite" with its bird logo on the back of the blade as well as "Harry Pratt Special" inside of an oval.  It is also marked "Pat Applied For," so you know it's an earlier model. Nice original shaft that also has its original leather wrap grip, although the grip shows some wear.

Condition is as shown in photographs.