Circa 1900 Pony or Piccolo Project Banjo by Unknown Maker

Description

We're not sure who made this little banjo, or exactly when, but it comes rather close to matching the description of S. S. Stewart's "Pony Concert" banjo (it's obviously not a Stewart but 1890s S. S. Stewart catalogs are an excellent guide to banjo models offered at that time). Other possibilities are that it was intended to compete with various "Lady banjos" of the circa 1900 period which were similar in size.  We're assuming the neck was cut or broken at the 5th fret, but of course we can't be sure as we never had the missing section with the headstock.
We've had this for decades, it's time to send it off to someone who might actually do something with it. The neck is walnut, the fingerboard is dyed hardwood The head is 8 inches in diameter, and 2 1/4 inches deep. There are 18 hook & nut sets, all but one of the nuts are matching, and that lone nut is very close to the other 17.  Note the fancy notched tension hoop and cool shoes! Most of the rust you see is from the flesh hoop of the old skin head.  The dowel stick is slightly loose in the neck heel.
We assume "Pearl" was the name of the original owner. Lots of potential here as with the right neck, or a nifty restoration of this one, plus lots of polishing, you'd have cool little banjo.  Or it would make a great ukulele banjo.