P M JAN 17
M. C. Ry.
Is this a railroad cancel and am I reading the Ry. portion correctly? And if it is, is it for the Michigan Central, which I am certain was called "railroad" rather than "railway" at the time?
With the small portion of purple ink in the bottom margin I would guess that this stamp was bulk cancelled while still in the full pane and then used on a waybill as likely the other stamps in the pane.