A number of years ago I used oxalic acid, an oxidizer, to lighten some weathered wood in an attempt to get back to the original color and grain. It pretty well accomplished what I wanted it to do. I am not sure how it might work for you since the stain has migrated from the cross cut grain upward. I would not rule it out though.
Does Sarco still have 1928 stocks without the hardware? They used to have a ton of it, but the chance of color matching would be a crap shoot.
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