This lot should read vellum laid on board and not paper laid on cardboard.
PROPERTY FROM AN ITALIAN PRIVATE COLLECTION
J. Helland, The Studios of Frances and Margaret Macdonald, Manchester, 1966, p. 151 (mentioned)
Royal Scottish Society of Painters in Watercolours, 33rd Exhibtion, Edinburgh 1912, cat. no. 168, price 55
Royal Glasgow Institute of the Fine Arts, 52nd Exhibition Glasgow, 1913, cat. no. 532, price 65