The second picture appeared in an issue of the factory publication The ConRod; a few pages of which were reprinted in The New ConRod magazine, Sept-Oct 1980 (including the page with the image above), which is where I saw it.
The issue of the original ConRod is not identified, but there is mention of rebuilding the enamel shop, so it is believed shortly after the disastrous fire of March 1927. The only disparity is the forks seem to be strutted in these historic views, and presently the 750cc machine is fitted with normal (un-strutted) forks. The caption identified it as Reggie Pink, at Muskegon, Michigan. It would seem he submitted a copy to the Works, and they used it in their magazine.
-Doug