Just my opinion, but I'd say the bottom border should be larger as the case in the Engle scan below. To me, the white space between the top of the photo/top edge and the bottom of the text (text, not the photo)/bottom edge should be equal.
Those (top of photo, bottom of text) were the printing parameters, so that's what the centering should be based on.
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T205 (208/208)
T206 (520/520)
T207 (200/200)
E90-1 (120/121)
E91A/B/C (99/99)
1895 Mayo (16/48)
N28/N29 Allen & Ginter (100/100)
N162 Goodwin Champions (30/50)
N184 Kimball Champions (37/50)
Complete: E47, E49, E50, E75, E76, E229, N88, N91, R136, T29, T30, T38, T51, T53, T68, T73, T77, T118, T218, T220, T225
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