|Click to enlarge.
Here we see someone billing themselves as "The New Houdini" performing "The Death Defying Act That Ultimately Took the Life of The Great Houdini." The poster artwork, showing two axe-wielding assistants hacking at the cell's glass, is actually pretty impressive. The performer himself is in the foreground with his feet up in stocks above what I think is the partially water-filled tank below.
I don't know anything about this performer, and I don't know anything more about this photo. In fact, I'm not even sure where I got it. (If this belongs to you, let me know, and I will credit it.) I'm also assuming this photo is post 1953. But if this pre-dates the Curtis movie...well, that would be very interesting.
Check out the links below for some other times the myth of Houdini's Water Torture Cell demise was presented as fact.
UPDATE: Looks like we have the answer as to who the performer was here.