Wow... Based on continued research this evening, I just found that this negative is derived from the original image used at the top of the following card:
"1922 E121 American Caramel Babe Ruth (Photo Montage)"
https://sports.ha.com/itm/baseball-c.../50016-56010.s
And used in the American Carmel Company advert for the 60 or 120 (?) card set.