[Cliff Bowman]

That is the most plausible explanation to me, the Hill and Rentzel both had the correct red name during the earlier printing process but both then also had an incorrect black name as part of the final black ink print run that then covered the correct red name, it was eventually caught and the black name was removed from the printing process. ETA, to answer your original question if my last theory is correct then the card is technically a black name card, if it wasn’t out of register then the final black ink print run would have covered the correct red name with the erroneous black name.