olivewhitman

According to Wikipedia, Seth Low was "an American educator and political figure who served as mayor of Brooklyn, as President of Columbia University, as diplomatic representative of the United States, and as Mayor of New York City." "Mrs. C. S. Whitman" is Olive Hitchcock Whitman, the wife of New York Governor Charles Whitman. Lorillard Spencer was "Military Secretary to New York Governor Charles Seymour Whitman."

Presumably they are watching the inauguration parade as her husband becomes Governor of New York.

one of several other Seth Low pictures in the Bain Collection:

Mrs. Whitman is Olive Hitchcock Whitman, and their daughter, who died in 1995, was also named Olive. See notes under:

Spencer later served in World War I, was seriously injured, and received the Distinguished Service Cross for his bravery under fire:
militarytimes.com/citations-medals-awards/recipient.php?r...
From the 1916 New York Red Book:

"Charles Seymour Whitman (September 29, 1868 – March 29, 1947) served as the 41st Governor of New York from January 1915 to December 1918."
en.wikipedia.org/wiki/Charles_S._Whitman

The photo was most likely taken on the occasion of the handover of a flying boat to the NY Naval Militia. See comment under

Thanks B-59 for linking this image to the related ones about the NY Naval Militia ceremony. We will add more details when we update the description.

Charles L. Poor, Commander of Battalion 1 of the New York Naval Militia. See article in the New York Times, November 2, 1915 "NAMES FLYING BOAT FOR NAVAL MILITIA"

Thanks B-59 for the details about Charles L. Poor and the ceremony. Looks like the family of Governor Whitman in the front row: www.flickr.com/photos/library_of_congress/8704880134/ We will add more details when we update the description.