Beautiful Victorian Scrapbook on Muslin from Oakland, California ~1903

I found this in a box of books at a yard sale today. It's a beautiful scrapbook with a lot of local pieces in it. The lady who sold it to me said that she believes that it was made by the grandmother of a woman she knows who is mixed African American / Caucasian. I think it's just really beautiful. The person was definitely fond of racehorses, because there's quite a few of those in it. Has anyone every seen one of these on muslin w/ stitched edges before? i haven't.