I took the liberty of using Lynntony's edited version of the photo (which was a great help!) I have some things which might be clues for further research. I often study old pictures and the smallest details can lead to discoveries.
I marked on the pictures.
All the men at the head of the procession are well dressed and apart from one man (the one without the hat and his collar turned up) they all seem to be middle-aged men, the middle class type. The three men up front (yellow mark) as well as the two walking in front of them are wearing top hats, they are of distinctly higher stature, could be leading persons in society. if I look at the style of their ties I'd say 1920's into the 1930's (older men didn't follow fashion as quick as the rest)
Behind the men follows a group which seems to be of smaller posture. I marked some legs red because at first I thought they might be boots. Looking more closely, however, I think they are either caps or black stockings like boys would wear in that era; which could explain the smaller posture.
I am not all that certain that the cars in the background (green mark) are part of the procession. If they are - I count at least 8 of them. And cars in a procession always have a major meaning. They don't appear to be hearses, however. Before WWII these were more often horse drawn carriages.
It's strange however that the concentration of the public standing along the route also stops around there. Is this the beginning of the procession route or, perhaps, the last bit? Could the cars (lot of cars for that era) perhaps be parked there and is this the spot where the procession by foot continued?
Such a pity we can't see what it is what these men are following, something goes there. If this is indeed a funeral then it would be the coffin(s?) they follow as the living always follows the dead in a funerary procession (ceremonial military being the exception)
Thus far it's all 'if's', but if this is a funeral procession and if these cars are a part of it, then seated in them are most likely women. Who often didn't walk - it's not something written in stone. As one of my own great-grandmothers reports in her diary that she walked a mile at the funeral of her mother in law and nearly tripped over her veil.
Based on the various views I got on hair, the cloche hats and other apparel I would again date this between the 1920's and early 1930's.
This is a very interesting puzzle. I'm very curious what it is now.
Please do let us know if you happen to find out outside the forum.