The original Vale of Leven Football Club were powerhouses in the early Scottish game, winning the Scottish Cup three times in succession (1877, 1878 and 1879) and defeating English FA Cup winners Wanderers in 1878.
In December 1876 Vale of Leven became the first Scottish club to beat Queen's Park (the first time they had ever lost in Scotland in their ten year existence).
Vale of Leven faded with the advent of professionalism and went out of business in 1929.
I'm guessing the Fergie referred to in the badge is John 'Jake' Ferguson, Vales' Scottish International forward.