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#1
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I believe SGC may have given the Goodwin as well as the current Heritage Red's CdVs the P&S designation based on the print type and format. The Heritage example has a Chadwick advertisement instead of a P&S ad on the reverse, but the format is almost identical to the known P&S CdVs. The American News on 117, 119, and 123 Nassau St was the agent. It appears The American News was the printer and distributor of the P&S CdVs as well as others with a silmilar print style on the reverse. The Cincinnati team was very famous in America in 1869. The American News cashed in on this popularity.
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#2
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Thanks Gary it sounds like a plausible reason for SGC label as P&S. I see the Heritage one has an address unlike Goodwin so typeface would be only way to attribute it to P&S. I only see one clear P&S reverse on a CDV sold by Mile High in 2010.
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