... is as follows:

>> Palace Club:
The Palace Club is another of Galveston, Texas', many gambling
dens. The club located at 2014 Ave E was first raided in 1941 and
the owner Woody Walker plead guilty to the crime of allowing
gambling on his property. His fine - $25! The club was again found
to have gambling in 1957 when the city cracked down on the illegal
activities of Galveston. <<

The link to his page on the Palace Club (includes a copy of the same ad as is shown in Frank Chalfant's book, dated there as April 4, 1947) is:

http://www.chipster.net/txpal.htm

The link to his attribution of the $20 chip is:

http://www.chipster.net/txpalx.htm

As always, thanks to Ed for his effort in putting together both his website and his guide to illegal chips. ----- jim o\-S