Curatorial description (Accessed: 9 April 2020)
A hot air balloon ascent from the cattle yards opposite Newmarket Hotel, North Terrace in July 1871; cabs and wagons stand in the foreground and crowds look toward a large balloon about to make its ascent.
For an account see The Register, July 1871, p.15d.
(Laddy Kite, 9 April 2020) pointed out that this was probably not a hot air balloon.
"I'm not an expert but I believe early balloons were filled with a lighter-than-air gas produced by chemical reaction at the site of ascension."