Of course, wooden canoe fans first tried to I.D. the beautiful boat and the conclusion was a Kennebec. After that folks were guessing at the ID of the couple with no definitive answers. Recently I came across an ad posted on EBAY ad featuring the same shot, which identified the actors as Joel McCrea & Maureen O'Sullivan, who played the original Jane in the first Tarzan movie! They starred in a film together in 1935 called Woman Wanted. This shot may be promo photo or image from the film. Either way, it's one of my favourite vintage canoe pics.
September 2015 Update: CORRECTION - It turns out the lovely actress in the canoe is not Maureen O'Sullivan but another Hollywood legend, Fay Wray, the female lead in the original King Kong (1933) movie. See updated post HERE.