Carlo Quagliotti, 1904
Difficult to see in my image, but it's there. (That was a tough one to find!)
However, another publication describes the pictured Quagliotti display as follows: "Carlo Quagliotti di Torino (automobili, canotti Hurtu e motociclette Quagliotti)." Quagliotti was an official Hurtu importer. Based on this information, the apparent four cylinder engine, and the radiator shape, the chassis in the puzzle photo is probably not a Quagliotti creation, but more likely that of a Hurtu Type 23 (4-cyl Aster engine) from the same year.