All things considered, and based on the evidence presented thus far, I am currently of the opinion that our mystery man in the photograph is neither Theodore Roosevelt nor that of Bat Masterson. This doesn't mean I am giving up the search, but rather that I am moving on to other possible candidates.
Furthuremore, I intend to take the advice of those individuals who pointed out that the best course to follow would be to focus more on trying to decipher the penciled text, as well as other bits of evidence such as the stamped word on the edge of the photo. By the way, I followed Big Cy's suggestion and scraped off some of the paint on that stamped word, only to discover that the word itself started to come off as well because the two were mingled as one. It may very well be that of an artist or studio name, but we will likely never know unless I have a professional work on it. Which brings me to Breezie's suggestion of employing someone to examine it more closely, that I may do eventually. In the meantime, I invite others to join me in what might best be described as my own feeble attemps at research and identification. Plus, my offer to compensate the individual(s) who find verification of the individual's identy, resulting in the sale of the photo, still stands.
I more than anyone would love for the photograph to be that of someone famous, but I have to admit that the task of this becoming a reality may be a difficult one to prove.
Below is a link to the best website I am aware of, and the one I have been using almost exclusively in the search of old photographs. It is called "Picsearch." Just enter the name you are looking for in the search box, and then scroll through an almost endless array of corresponding photos. It's fun and may eventually turn up the person we are looking for.
Link:
http://www.picsearch.com/
Thanks again to everyone for your much appreciated time and efforts here, as they are fully acknowledged. And please keep in mind; It isn't over until the fat lady sings!
Sincerely,
SODABOTTLEBOB ... a.k.a. ~ "The California Kid"