Design: Silver is an appropriate background colour, and the metallic look would become more popular in the 1950s (e.g. the Kapp label). As well, various kinds of loose script would become popular for the label name (compare with the Original label). Someone has drilled a hole through the upper part of the distorted music note, no doubt to listen to distorted playback.
History: 'Silvertone' was the brand name used by Sears, Roebuck for its line of records from 1915 to 1927. It was revived in 1941-42. The record was manufactured in red vinyl, a material that would be used for the emerging LP fomat.