From vintage-royalty.tumblr.com/post/24781237986; removed more obvious spots with Photoshop and monocolor tint.
The dress in this photo does not have the epaulettes seen in this image and this image. She is holding Princess Royal Mary.
Keywords: 1901, Queen Mary, Victoria Mary of Teck, Mary of Teck, May of Teck, Princess of Teck, Duchess of York, Princess of Wales, Queen of the United Kingdom, Teck family, Windsor family, Princess, Queen, British, curly coiffure, earrings, necklace, partlet, high enclosing neckline, pin, necklace, pouter pigeon bodice, long tapered sleeves, cuffs, waist band, shallow vee waistline, A-line skirt