I have not found death for Margaret yet, but this looks like it would be her son.
Richard Reinhart BAY born July 8, 1926 Winnipeg, MAN died March 20, 1968 Kamloops, B.C. parents: Jacob BAY and Margaret Mary DUNN Richard was single
I could not find a death for Jacob or Margaret. But I found them both listed at the address you show - 321 Belmont Ave. in the 1965 voters list for Winnipeg. He is listed as Jacob A. In 1935 they were living at 518 Talbot and Jacob was listed as a carpenter , Margaret is just listed as Mrs. Jacob Bay, married woman.