This instrument is what we Portuguese call a "Senhorinha", a Parlor guitar, made by Manoel Pereira dos Santos. The label is not dated, but he opened his shop in 1885, and the current owner says her grandmother left a handwritten songbook dated 1924 along with the guitar. This lets us suppose the instrument was probably made at the beginning of the 20th century. It came to me in a very sad condition, and it was my pleasure and privilege to repair it, having just finished the job (October 2009). A lovely, lovely instrument!
To see the whole repair, please click on the link below: http://www.acousticguitarcommunity.com/group/guitarmakers/forum/topics/restoring-an-old-instrument