As indicated by the caption, this image shows a portrait of Clarence Mackay's father John William Mackay (SH202aspouse2).
The caption accompanying this photograph reads as follows:
A portrait of the founder of Harbor Hill's sybaritic feast, Clarence Mackay's father, John William Mackay. had a prominent place of honor above the library's shelf-less mantelpiece. The ornate gilded frame was carved by an Allard craftsman.
See Harbor Hill, Clarence Hungerford Mackay's Mansion.