The following photo is an enlargement of the woman's face from a group shot I posted earlier. I believe this elderly woman is James Blay's mother, Cynthia (Derrick) Blay. I calculated (based on the apparent ages of the two young girls in the group) that the photo was taken about 1909 or 1910. Cynthia died in October of 1910. She's living with her son, James Blay, in Denver, Colorado and is listed as his mother in the 1910 census (taken 18 and 19 Apr 1910). It seems reasonable that this is Cynthia pictured at the family gathering.
Now compare the faces of the two women. Is it just me or do they look similar? The deep set eyes, general shape of the face, hair style, etc. I really think they are the same woman, just decades apart. If they are the same woman, then the man with her in the tintype is, most likely, Alexander. Plus it makes sense that Margretta would have a photo of her grandparents in her photo album. What do you think?