This work was listed in the gallery’s annual report for 1891 as a watercolour, and catalogued in NGV 1894 as a black and white drawing; the NGV’s current catalogue describes it as a distemper drawing.
The identity of the artist has been the subject of some confusion. Citing the inscription at lower right, the NGV’s online catalogue identifies him as E.F.Hodgson (not listed elsewhere). However, this drawing clearly shows the same composition as a wood engraving published in The Graphic, 22 July 1876, titled “Off to the Highlands on the Oban Boat”, and inscribed as “drawn by J.E.Hodgson, A.R.A.”
Clearly, then, this drawing is by John Evan Hodgson, one of whose paintings was also formerly in the pre-Felton Melbourne collection (refer linked artist entry).
AR 1891, p.24 (under watercolours); NGV 1894, p.108 (V.Buvelot Gallery, 2nd bay, no.36: as a black and white drawing; size given as 11 x 17 inches); not listed in NGV 1905
For the wood engraving mentioned, see e.g. https://www.printsoldandrare.com/scotland/020scot.jpg (accessed 9 Oct.2018)