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• Santa Fe didn't mark this ad as copyrighted; the Life copyright is not valid for the ads in the publication.
• There are no copyright marks on the full pages of the ad, as can be seen at the link above. The page is clearly an advertisement, so it is not a part of any magazine copyrights.
• US Copyright Office page 3-magazines are collective works (PDF)

"A notice for the collective work will not serve as the notice for advertisements inserted on behalf of persons other than the copyright owner of the collective work. These advertisements should each bear a separate notice in the name of the copyright owner of the advertisement."

• United States Copyright Office page 2 "Visually Perceptible Copies The notice for visually perceptible copies should contain all three elements described below. They should appear together or in close proximity on the copies.

1 The symbol © (letter C in a circle); the word “Copyright”; or the abbreviation “Copr.”

2 The year of first publication. If the work is a derivative work or a compilation incorporating previously published material, the year date of first publication of the derivative work or compilation is sufficient. Examples of derivative works are translations or dramatizations; an example of a compilation is an anthology. The year may be omitted when a pictorial, graphic, or sculptural work, with accompanying textual matter, if any, is reproduced in or on greeting cards, postcards, stationery, jewelry, dolls, toys, or useful articles.

3 The name of the copyright owner, an abbreviation by which the name can be recognized, or a generally known alternative designation of owner.1 Example © 2007 Jane Doe.")

This work is in the public domain in the United States because it was published in the United States between 1929 and 1977, inclusive, without a copyright notice. For further explanation, see Commons:Hirtle chart as well as a detailed definition of "publication" for public art. Note that it may still be copyrighted in jurisdictions that do not apply the rule of the shorter term for US works (depending on the date of the author's death), such as Canada (50 p.m.a.), Mainland China (50 p.m.a., not Hong Kong or Macao), Germany (70 p.m.a.), Mexico (100 p.m.a.), Switzerland (70 p.m.a.), and other countries with individual treaties. العربية ∙ беларуская (тарашкевіца) ∙ čeština ∙ Deutsch ∙ Ελληνικά ∙ English ∙ español ∙ français ∙ Bahasa Indonesia ∙ italiano ∙ 日本語 ∙ 한국어 ∙ македонски ∙ Nederlands ∙ português ∙ русский ∙ sicilianu ∙ slovenščina ∙ ไทย ∙ Tiếng Việt ∙ 中文（简体） ∙ 中文（繁體） ∙ +/−