Description printed on photograph's accompanying sheet of paper: "Hughes waves to cheering million. New York City--- Clean-shaven once more, Howard Hughes smiles his gratitude to the millions of New Yorkers who showered him with ticker-tape and torn paper--New York's own accolade, as paraded up Broadway, followed by his companions in the carbehind in the greatest reception since Lindbergh's. On the left is Grover Whalen, head of the New York World's Fair, 1939, and on the right, Al Lodwick, manager of the round-the-world record smashing flight. Credit Line (ACME) 7/15/38."
Transcribed from attached press release: "HUGHES TEST-PILOTS SECOND XF-11. CULVER CITY, Calif., April 5. Preparatory to making its first flight test today, Howard Hughes, famed flier-industrialist, is shown in the cockpit of the second XF-11 sister ship to the plane in which he almost lost his life in an accident last July 7. Hughes designed and built the ship, one of the world's fastest long-range reconnaissance planes for the Army Air forces in conjunction with the Air Materiel Command engineers."