Incredible Lederer bordeaux alligator hide clutch with slide latch frame closure and optional finger loop, circa early to mid 1930s vintage.
While the exterior is stunning, so is the interior- which is a water snake of some point or a very fine karung. 
Chrome frame and slide latch, inset alligator on top of latch.
Optional finger handle and chrome square "buckle" detail lay flat when not in use.
One beautiful section of alligator hide, with side seams only, smaller scales on the sides.
The interior has a large slash pocket on one side, and a small pocket on the other.
Small strap piece may have originally connected to the mirror, which is crackled and discolored, but present.
Gold embossed "made in Austria" on one side and "Lederer" on the other.
Beautifully hand stitched and constructed, this uber- luxe bag is a rare find in exceedingly useable condition!

Condition:
Very good overall- please see photos for actual condition.
Of note:
-Alligator is supple and shiny
-Chrome hardware shows light surface wear from age but retains shine
-finger strap is firmly attached and functions perfectly
-Slide latch functions perfectly
-There are light wear spots to the bottom corners
-One side bottom corner has some rough, darker spots as shown
-The interior- other than the mirror no longer being attached to its strap- is spotless
-No odors


Measurements:
frame is 7- 1/16" wide
bag is 7- 1/2" wide at mid section
6- 5/8" height, excluding slide latch
about 1" depth when empty, easily expands to 2- 1/2" with contents