I am a little confused. To mean this is Majestic moving from the Western Docks after the arrival of the QM? She is flying the Cunard and White Star flags, but she was laid up before the QM arrived in Southampton. When she left, she had her masts and stacks cut down for passage under the bridge near Rosyth.
Many thanks for sharing a lovely picture with us. I am quite a fan of Majestic. I am not sure which photo you were referring to before, but Majestic is visible in some photos of Queen Mary in the graving dock so your statement would seem quite right.
I think Dick Sloan posted some photos taken from Majestic/Caledonia's decks in late 1936 or 1937, and Queen Mary was visible in the background.