Transcribed from back of photo: "Howard Hughes in the cockpit of the new XF-11 reconnaissance plane which he designed and built in conjuntion with Air Material Command engineers. He is preparing for its first flight. One of the world's fastest long-range photo planes, it can attain a speed of over 400 miles per hour."
Howard Hughes talking to unidentified men who are presumably members of the press most likely about his completion of his Round the World flight in New York City, New York.