Photoart?

[effe]

I just picked up a 1920 Wisconsin Badgers panoramic team photo measuring 9.5 x 4.375 in. The print is glossy and in the lower left corner is printed "PHOTOART" with a number below it. Can someone tell me a bit more about what I have here? As you can imagine a search for photoart yields a lot of listings, but none that are of much help.

[effe]

I just found my part of an answer...They were a studio in Madison that sold photographic postcards. My photo is definitely not a postcard though, so I'll have to keep on digging.