Phonozoic nomenclature. Prior to this I've seen dates on this type anywhere from 1951 to 1954. This one is the oldest I've found, clearly dated to April 20th 1949.
The writing on the label is pretty clear.. for French cursive. It looks like it reads "Le mot de l'accueil Jubile[somthing] de notre dame mere seu Jeanne de Valois." It seems to be a speech from an event at Notre Dame. Since it's in french I assume that it was recorded at Notre Dame de Paris, not the Catholic university in Indiana.Unless one of my readers is fluent in French I don't expect to get any further with this one.