Really a gem of a small watercolor I think, late 19th c. I would guess, with a lovely, keen looking deer standing at a stream enveloped by a dense, impressionistically painted landscape. The backside of the frame shows that it was framed by Foster Brothers on Boylston St, Boston, founded in 1893 by brothers Stephen Bartlett Foster and John Roy Foster, and renowned for making unique carved and gilded frames, especially in the Arts and Crafts style. The gold mat in combination with gilded frame here thus feels quite right, and I've come to really love the effect, making this deer feel all the more like a jewel.
Framed: 11" x 9 5/8". Sight" 5" x 3 1/2". Painting is in excellent condition. There are some scattered minor losses to the surface of the frame, to my eye not detracting at all.