The picture is of Marion Sweet, one of the radio actresses who portrayed The Dragon Lady on the Terry and the Pirates radio show that ran from 1937-1948. I listened to the show in it's later years. I never thought that the Dragon Lady dressed like that.
Of course at the age I was I probably couldn't have cared less. I still thought the world revolved around baseball. I discovered a little later that it didn't. I found this picture and an article in WIKI, the free encyclopedia on the internet. If you haven't found it you should. It also has old time radio shows like Terry and the Pirates that you can download and copy or just stream them and listen. It's a good thing as Martha Stewart used to say.