What does this mark mean?

What does this mark mean?

Dear gseiler

The motif represents a mythical mermaid “MELUSINE”, a lovely story possibly originating in Luxembourg, it was used a lot in German and Scandinavian heraldry and other european countries,

As to the inicials i couldn’t find a thing, perhaps you could give us a veiw or a description of the whole peice and maybe one of our other SILVER SURFERS can throw some light on it.
Even take a closer look you might find more marks.

all the best

Harry hood.