Transcribed press release from back of photograph: "Howard Hughes' flying boat, world's largest plane, rides free off Terminal Island in Los Angeles Harbor immediately after its launching yesterday. The plane's vertical stabilizer tip rides about 80 feet above the water as the air giant floats for the first time. With Hughes at the controls, the colossal craft will get first water taxi tests today."
Howard Hughes (wearing hat) receives congratulations from Mayor Fiorello La Guardia at Floyd Bennett Airport in Brooklyn. The gentleman wearing a polka dot bow tie, standing behind the mayor is Grover Whalen. Mr. Whalen was president of the 1939 New York World's Fair.