Red Gutta Percha Mesh c.1890's.  Ball appears little used with 80% original paint.

An examination of the ball reveals that it is red everywhere where the paint has worn off.  This is because the ball is made entirely from red gutta percha, not black as was typically used. 

During the late 18th century the gutta percha used to make golf balls began as a gum material extracted from certain trees in Cochin China, Cambodia, Straits Settlements, etc.  During the course of being processed into its final, usable form, it would naturally become black due to oxidation, but it could be made red by using additives. Golf ball makers in the early 1890s offered both red and black gutta percha balls.  In the advertising section of the October 9, 1891 issue of Golf, Peter Paxton announces "Red and Black Gutta kept in Stock."  In the vast majority of instances, however, black gutta percha was used to make golf balls.  It kept its shape better, especially with proper seasoning (typically 3-6 months). 

Red gutta percha, on the other hand, performed well initially with much less seasoning when compared to black gutta percha. So if a ballmaker needed to make and sell a ball fast, red gutta percha worked best.  However, it did not fly as far (by reason of its composition) and would deteriorate quicker in the long run, because it never became as strong/durable as seasoned black gutta percha—which explains why red gutta percha was rarely used by ballmakers.  (For more on this topic see TCA2 v1 p330-331).