Abstract: A semi-transparent, tray-like container having a flat bottom and substantially vertical side and end walls defining a storage space has flange-like projections on each side wall inner surface in proximity to but spaced from the bottom to define, with the bottom, a retaining channel which slidably receives a removable panel assembly containing a plurality of hinged overlapping transparent envelopes which can be flipped like pages to display flat objects such as photography, stamps, recipes and the like contained therein. The retaining channel holds the panel assembly securely in place with little or no movement even when the envelope pages are turned with the result that the flat objects remain organized and in place in the container for safe storage and convenient display. The container bottom is constructed with supporting legs which may project into the opening of a like container for stacked alignment therewith to provide a system of a plurality of stacked tray-like containers.