Transcribed from attached press release: "LITTLE BIT Only an inch and a quarter in diameter, this "microbit" enables engineers at the Hughes Tool Company, Houston, Texas, to estimate the performance of full-size bits for the oil drilling industry. The company operates the largest testing laboratory of its kind anywhere in the world and produces thousands of rock bits necessary to drill deeper and deeper as the world's shallow oil wells have become exhausted. Howard Hughes terms the Hughes Tool company the "keystone" of his industrial empire."
A section of Howard Hughes' "Spruce Goose" or "Flying Boat" being moved (with a police escort) from the Hughes Aircraft plant in Culver City, California to Terminal Island in the Los Angeles Harbor where the plane was assembled in June of 1946. Date stamped on back of photo.