Probably had another 3c stamp on it that someone wanted for their collection.
Even with the second stamp, it's not a particularly valuable cover.
The odds are, it was endorsed via Cairo and Chicago so that it would go the most direct way by rail. There was a rail line from Mobile up through St Louis that would have passed through Cairo. From there, it would be put on a different train for Chicago, then one for London, Ontario.
6c rate for letters up to 1/2 oz.
For a map of the rail line in about 1900 (the Gulf, Mobile, and Ohio line), see:
http://www.gmohs.org/TertiaryPages/MnOMapFull.htmThe same routes would have been available earlier (and later - you can still go from Chicago to New Orleans by rail).
Without the endorsement, the post office may have put it on a ship for New York, where it would be then put on a train for Buffalo and then London. Probably would have taken a few extra days that way.