When: The style of the mount as well as the dates on the banner for the Labor Day weekend lead me to the near certain conclusion that this was taken in August of 1949.
Where: Reno, NV. Labeled on the mount, so that made it easy enough, and a quick look at Google imagery of "Old Reno Photos" shows this to be Virginia Street, just south of the Reno sign. Sure enough, in looking at the present day image, I can pick out that the building behind the "FRONTIER" sign is still standing!
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Who: Harold Smith's club lasted until 1995, and was later demolished. Apparently, the Kodachrome shows the construction of a mural depicting pioneers on the trails westward. A short history of the club can be found here!
How (much): I picked up this for $7.50 on ebay.