On Sun, 28 Dec 2014 19:19:21 +0000, PVK "octave at btinternet.com"
wrote:

Thanks, Mitch, that is a fabulous photo, both from the aviation and the
naval architecture aspects. I wonder where it was taken ? A Scottish
loch maybe.

Happy New Year to you

Paul
Cambridge
UK

I was also curious, did some diging. Found it online marked as "HMS
Courageous at Boka Kotorska, Yugoslavia (Montenegro) in 1929"

http://www.maritimequest.com/warship...rageous_50.htm