Sir James Russell studio photo taken in London on the occasion of his knighthood in 1890, or his CMG in 1887. The medal on his left lapel appears to be the Order of St Michael and St George.
I've been puzzled by the subject's youthfull appearance. He was 50 years of age when he was knighted, and retired due to ill health 2 years later, yet the picture has a very smooth face and looks younger and health. Closer examination of the picture magnified shows that the cheek has been retouched, but it is still possible to see wrinkles under his chin which were missed by the retoucher!