Different Styles of The Queens Bays Belt Buckles

[wright241]

I have enclosed a picture of 2 'Bays' belts with buckles that have slightly different monogram's - hint, I need some help from a 'Bays' guru here......

One of them appears to be from the early 1900's with its 'widish' monogram and curving (in) leaves - as this is almost exactly the same as a pouch from 1901 - I assume that it is from this period.
The other has much more upright leaves and the monogram itself is narrower.

Is this significant with regard to the period used or is it just a different manufacturer?

Any help would be appreciated and thanks.
david