According to the artist (29-May-2001): "I can't identify exactly what story that's from because it was part of a series, but it was done for Analog, probably in 1970, and illustrates one of the Ravenshaw of Wild Blue Yonder, Inc. (WBY) stories. That author, I believe, is Jack Wodhams."
Research has led me to the March 1970 issue of Analog magazine, which apparently contains the story Ravenshaw of WBY, Inc.by McFarlane. As far as I can tell, the story is not listed in the Locus magazine database.
Vincent Di Fate's Website