To continue, as for the red, 2-Cent U.S. issue, it's in very fine condition! The duplex cancel from the Manila P.O. is quite fine, too! The large, "PAQUEBOT," cachet is quite neat, too!

Lastly, as for the envelope, itself, it's in fair-good condition. It obviously has some stains on either side from some unknown source. There is a large piece of the envelope that has been removed, most likely when it was first opened almost 96 years ago. The back flap is about 60% intact. Noted imperfections aside, this remains a rare piece of paquebot mail! I haven't seen but one, other item of a similar nature in all of my years of collecting!