Rust's American Record Label Book says that the LaBelle 5000 series were all label paste-overs of existing Columbia stock. The arrangement apparently existed between Columbia and LaBelle in 1919 and 1920. Per Rust, Columbia insisted that the labels bear no artist credit, apparently hoping that the identity of the LaBelle discs would not be traced back to themselves.
Interestingly, Rust discusses only the LaBelle 5000's in his book, and on the strength of that dismisses LaBelle as just a label, with no records of its own. The sole illustration of the LaBelle product in his book, however, is not a LaBelle 5000, but a disc from a 1000 series with an actual artist credit (The Indiana Syncopators). The disc dates to 1923 and is drawn from the Olympic/Triangle pool of material. Perhaps LaBelle never did get to issuing records of its own, but it clearly had a longer, more involved history than Rust sets out.
Your copy, jscaptura, seems to be quite typical for the output of La Belle Phonograph Records, New York. The company seems to have existed from ca. 1919-1921 as a subsidiary of Columbia, releasing Columbia recordings with pasted-over labels (dates quoted per M. Sherman & K. Nauck, "Note The Notes", p. 48). The date fits with the date of the other copy depicted, whose labels list 5 patents in 2 lines and thus date to between 1919-1920. Would be interesting to see your A side as well.
Later (until 1923?), the La Belle label belonged to John Fletcher's Fletcher Record Company in New York, which produced, among others, Olympic Records (source 1), (source 2).
I assume the relabeling has something to do with the financial difficulties Columbia suffered during these years. In 1919, the company went public in order to finance a huge, unsold inventory of phonographs that they had unwittingly ordered from cabinet makers just before the short-lived post-ww1 boom in record and phonograph sales ended. An unscrupulous investor acquired a controlling interest of shares almost at once and drove up the share price to $65, only to then sell off his stock and make the share price plummet to below $2. As a result, the company began to struggle financially and finally went into receivership in October 1923 (info from M. Sherman & K. Nauck, "Note The Notes", p. 29).
The side with "I Am Climbing Mountains" has the correct label on it, but the "Golden Gate" side has a label for another record company, La Belle, but the correct title. The runout on the "Golden Gate" side has 78585 stamped in it, which is correct for the Columbia release.
I can't find anything about "La Belle". How were they related to Columbia?