This is "The First Automobile Race in America" by Robert Schulz, from the Smithsonian collection, apparently painted in 1895 as well. The race itself was postponed for awhile after the Times-Herald announced a cash prize for the winner of a race of practical road vehicles. It snowed heavily the night before and only a handful of cars showed up. J. Frank Duryea won in, well, a Duryea, but it took him almost 8 hours to cover 50-odd miles.