Based on the packs I have studied, I believe your overprint reads as follows:
Manufr No. 40
Third District N.Y.
Nov I 1887
Although it almost looks like yours might say No 42 and your "I" should be a "1" after November. All other Goodwin & Co. packs I've studied list the month followed by a 1. I know baseball cards were distributed in packs at least into the month of October in 1888 (one of my packs has a baseball card notice stamped on the side) so this could have contained a card as well (late 1887 card).