URUGUAY EARLY 1920´
"J.C." JOCKEY CLUB
MONTEVIDEO
see this e bay listing from Uruguay. https://www.ebay.com/itm/256025037007?hash=item3b9c4808cf:g:NagAAOSwzhhkIuJN&amdata=enc%3AAQAHAAAA0LvmhyhU6ZTQ6%2Bp2gObsm9TO972rZaDu3tdHSIDuy0bJKRjCGtpcI3PUXUjytHXcLwpvIb8rglzerRSM3%2FbP2QseMfa5Gm8nGT8MmWBGTk2RakE2kh6Nw5ULgKkiN2ICktfQaHaekNhHvMO8J3NooueIxjaEf7%2FYVn19WV9qW0mPCx2LRLwa1cZg7p9VsPCHAi1Rd5pmDNqwrgF%2FePqEtTNsPathuvNrq%2FdreJ37wzc3hRpfimoxkjbXNBfrtdMJer3J%2BC8tu9KtrTHx%2B52bPsQ%3D%7Ctkp%3ABk9SR-r_q5PlYQ
It matches these two UFC's (pictures from Chip Guide & E bay)