It looks like something that was cut out of an old baseball guide, like the ones produced by Spalding or Reach. I'm not sure how early they did these, but I have an Oakland Oaks team photo clipped from a 1912 guide, and it's cropped and labeled the same way. There's lots of these clippings on eBay, and they don't sell for much, although some of sellers claim they are some kind of premium, or even, a card.
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