Found in, and I believe of, Pennsylvania, and I think earlier than later 19th century. Terrific color, wonderfully bold and graphic, completely unfussy. With "No.36" written at upper left, and "The Horse" written a couple of times in ink at top center--and again running vertically up from bottom center. Likely from a ledger in which its maker completed a series of watercolors of animals--if only I had them all! Watercolor on what I believe is laid paper, with a couple of embossed marks at lower right. 

8 11/16" x 7 5/16" framed, under glass, as found, with wood backing. All in  good antique condition.