Definitely not shell.
Thought I found some AE Leeds shell Cordovan, model number matched the shell sheet, but there was micro creasing. For $8 picked up anyway, can always return. Further review leads me to believe these Leeds are not shell. The on line Issuu catalogs from 1985 showed a 9548 in polished burgundy, couldn't remember what year the changed the inside orientation of the logo (Wes?).