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The hat and the roof of the grandstand match this picture from the Illustrated London News of 26th August 1950.

Edit: but I'm not sure about the collar.

President O'Kelly attended on Friday 11th August, arriving at 3 p.m. (Irish Independent - Saturday 12 August 1950)

Judging from a picture in the Illustrated Sporting and Dramatic News - Wednesday 24 August 1949 (which includes the presidental collar, matching this time), The picture was taken at the 1949 event, and the military man on the right is Prince Bernhard of the Netherlands.

Youtube is useful here: youtu.be/5jvaheS8AxU youtu.be/aayPjTAIJHs

Prince Bernhard of The Netherlands (1911 - 2004) was a character and a half - en.wikipedia.org/wiki/Prince_Bernhard_of_Lippe-Biesterfeld

Looking down Prince's Street. This O'Connell St. shot from the 20s shows signs pointing down this street to the Capitol:

Per Wikipedia: began life on 10 August 1920 as the La Scala Theatre and Opera House. Despite its name, the La Scala was a cinema. Paramount Pictures took over the lease on the building and renamed it the Capitol. Under new management, the Capitol ran a live show every week to accompany the current film ... The last stage show was on 29 October 1953. The Capitol continued as a cinema until 1972.

'Flight of the Doves' was released in 1971, which wrenches this photo out of the '60s ... www.imdb.com/title/tt0067104/ en.wikipedia.org/wiki/Flight_of_the_Doves

While fleeing across the Irish countryside, two orphans are pursued by their villainous uncle, a master of disguises. With Ron Moody, Willie Rushton, Niall Toibín, Dana (!) and Noel Purcell as the Rabbi (!!).

Congratulation for your beautiful Album.