Water Pearl was the offspring of Watercress and Pearl V., who were also both offsprings of thoroughbred racehorses such as Spingfield and Firenze,  an American Thoroughbred Hall of Fame racehorse.
Watercress Pearl V. Springfield Pearl V.'s dam was the great Firenze, a four-time National Champion racemare and a Hall of Fame inductee. Firenze (18841902), also recorded as "Firenzi", was an American Thoroughbred Hall of Fame racehorse. 
Firenze (18841902), also recorded as "Firenzi", was an American Thoroughbred Hall of Fame racehorse. Springfield was the sire of Watercress. Pearl V.'s dam was the great Firenze, a four-time National Champion racemare and a Hall of Fame inductee. Water Pearl was a well bred colt sired by the English stallion Watercress, a winner of top races including the 1892 Prince of Wales's Stakes and the 1893 Hardwicke Stakes for trainer John Porter. 
