C&N #1 photo with unusual lettering

Ken Martin put me on to this photo that was posted to the Early Rail list on Yahoo. It comes from a glass plate negative in the collection of Tom Evans. I worked with Tom to get a good scan, and this is the result. It looks to me to be C&N 2-6-0 #1 pulling C&N combine #50. What seems odd is that the tender appears to have the circular herald.
In other photos, I have only seen this logo on the later locomotives (Climax no. 2, Shay no. 25, and 2-8-0s no. 30, 31, and 32). No. 1 came from the factory with the road name spelled out on the tender, and there are a few photos in service that match the builder's photo. All of the locomotives seem to have been re-lettered with a simpler scheme using just initials (either "C&N RY" or "C&N-W RR"), so it seems unlikely that the railroad ever applied that logo themselves. At first I thought that this photo might show #1 with the tender from #30, 31, or 32, but the tender looks more like #1's (the others have their tanks wider relative to the side sills, and frames shorter relative to the tank length). Also, the top and bottom stripe on the three 2-8-0s do not continue above/below the logo - they merge into arcs on the sides of the logo, while this photo seems to show the stripes continuing across.