I'm no expert, but it looks like a portion of a "4-on-1" exhibit card, although the writing would be far bigger. I imagine this is much larger than t206 size given the small writing necessary to write all that.
Looking forward to the answer...
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http://imageevent.com/derekgranger
HOF "Earliest" Collection (Ideal - Indiv): 244/342 (71.4%)
1914 T330-2 Piedmont Art Stamps......: 114/119 (95.8%)
1923 V100 Willard's Chocolate............: 177/180 (98.3%)
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