This is an extremely rare, early example of William Morris' involvement in the weaving of hand-knotted carpets produced in the coach house and stables of his house, Kelmscott House in Hammersmith. The trademark incorporates an "M" (for Morris), a hammer (for Hammersmith) and wavy lines (representing the Thames). All of the Kelmscott era carpets are of similar small size.
cf. Linda Parry, William Morris,1996, p. 279, M101 and Malcolm Haslam, Arts & Crafts Carpets, 1991, p. 64, fig. 39 for further illustrations of this model.