That's a publicity still from the 1930 movie "Check and Double Check."
It's an incredibly boring and unfunny movie.
http://www.youtube.com/watch?v=_-1u20Ofn2A
The only good part is the performance by Duke Ellington's Cotton Club Orchestra (there is also a scene where the entire band is hauled to the party in the Model T taxi).
The film is horrible. I couldn't get through it. Clocked out after about 10 minutes. Can't believe how we thought about "entertainment" as a nation years back.