Transcribed from attachment to photo: "TOUGH TEST - A hard formation drilling test is begun in the big laboratory at Hughes Tool Company, Houston, Texas, where any drilling condition found anywhere in the world can be duplicated. Here, where the vast majority of rock bits used in the U. S. and Canada are produced, is the cornerstone of Howard Hughes' industrial empire; it was principally the income from the oil drilling equipment company which enables Hughes to branch out into many other fields."
Typed onto a piece of paper attached to the image: "Howard Hughes at the microphone, during his brief address at Official Municipal welcoming ceremonies in the Council Chamber at City Hall. In his speech, Hughes disclaimed credit for the flight and heaped praise on the "men who designed and perfected to its present remarkable state of efficiency, the modern American flying machine and equipment." New York, New York."