H Mervyn,
Cracker photo! 20's or 30's. Look at that fantastic bow wave under CULEX. Looks like she was run over wave another tug.
The ship might be a problem. Note the solid bulwark around the focs'cle. I'd say it a company 'design feature'. Usually with flush deck vessels.
I agree.... repair OR paint job. Might have been just doing some 'chipping'.
Stephen