This one comes from Frahm's Hopper period. We learn that is possible to use steam-driven phallic symbols to make women's underwear slither to the ground. Notable for several interesting details:
A man across the street is able to take in the entire scene despite his distance from the event, and grins; the woman who sees is consumed with sympathetic shame.
The main leering man is once again looking at a point slighty past her neck.
Another man is simply standing in a hole, wondering when Walker Evans is going to come along and take his picture.