A couple thoughts, probably way off.
The ones in the old newspaper look like the W is right against the side of the button reinforcment. This one isn't. I'd the databse at the HOF seems to show the away uniforms as being the only ones with Newark on them Home had the N in a circle. So it probably should be gray, but the database shows the away as very light, so maybe white?
Since the team moved from Indianapolis and Indy used similar uniforms maybe they reused them? If they did there might be signs of other lettering.
Unless it was unused in 14 and madeup for one of the new players for 15. If it was done later that might explain the mismatch of the exact letter location.
Totally crazy thought
Newark had a player in 1916, Rupert Mills who was local and had legal training.
http://en.wikipedia.org/wiki/Rupert_Mills
Since his contract required him to show up and be in uniform, he did.
I can't help but think that a defunct team might not supply him with a uniform, especially if it meant they had to pay him too. And if he bought his own, it would probably not be an exact match.
Does it have any Provenance?
Steve B