Looks like the holder boarded at White Sulphur Springs West Virginia, the location of the Greenbriar resort owned by the C&O Railroad. I can't make out the destination.

The charge to the Pullman Company (who owned the car) was $1.25 with a 50% surcharge to the railroad (whose train was handling that car) of $0.63. The holder rode a seat rather than any sleeping car accommodations, so literally "sitting up in the lounge car" or riding the observation car rather than a sleeper.

The car number and seat number correspond to the diagram of the train for that given day, not the actual number or name of the car itself. Simplistically, the diagram starts being built when reservations for that day's train are opened.

A basic daily consist is already published and each reservation made at any agent reserves a space. As the spaces fill, the data is transmitted between agents so everyone knows which spaces are reserved and which are available for sale. If all the types of spaces on a particular car sell out, another car of the same plan is added and sales continue.

At some point, perhaps a week away from the day that train runs, cars are no longer added and only sales of un-reserved spaces in the now-established make-up of the train continue until it departs. Last minute passengers take what might be left.