GAM did produce some photo cards, see the example. The photographic production was by Unione Bromografica Milano, which also produced photographic cards for other publishers eg Leo.
The logo being such a compressed monogram, sellers often list the cards under GMA, GPM and GMP. Italian sellers can list them all under Amical. The logo on the photo card shows the actual letters very clearly.
The following is an account by Jean Michel Gravoueille, based on a collection of 1300 postcards illustrated by E Colombo, which suggests (very strongly!) that GAM is a marque of A. Guarneri.
The edition of the first postcards with the GAM logo begins in 1920 at no. 538 and ends in 1933 at no. 2505 (more than 300 series). Different variants are observed and many series were published several times with different publishers' names or logos: GAM and GAM Ultra; GAM and GAM Edizioni Amical; GAM, GAM Ultra and GAM Edizioni Amical but also GAM Ultra and Clou; A. Guarneri and Clou; A. Guarneri, GAM and Amical (series no. 2334); A. Guarneri, GAM Ultra and GAM Edizioni Amical; A. Guarneri, GAM and GAM Edizioni Amical; Guarneri and GAM Edizioni Amical... Concerning A. Guarneri, between 1929 and 1931 45 series were published under this publisher's name (in full in the central part of the back). Some of these series also exist in editions GAM, Amical and Clou as mentioned above. It is also important to note that the serial numbers A. Guarneri, GAM and its variants and Clou fit into the same chronology.I'm afraid in earlier versions of this site I favoured Dell'Anna and Gasparini (publisher of degami cards), rather than Guarneri as the publisher of GAM, which I now believe was a mistake.All of these observations suggest that the GAM postcards and its variants (including Clou) were published by “GUARNERI AMILCARE” in Milan.
Some illustrations of GAM or A. Guarneri postcards were taken up by degami and OMGS for “variant” editions around 1940.
Next page, more example cards