This is an original mounted cabinet card group photo that was done through the studio of Carl Horner (1864-1926) who was based in Boston and best known for his photos of baseball players at that time. The group in this photo is entirely men and some are cross-dressing as women. The manner of ladie's dresses dates the photo to the 1920s. It would not really be possible to name the sitter's in the photo though. Given the proximity of Boston to Harvard in Cambridge, Massachusetts, the image is probably of the members of the Harvard Player's Club which was the dramatical group on campus. You may want to look through Harvard yearbooks from 1920 - 1926 to see if there is a face match with the Player's Club yearbook group photo. You can access the yearbooks through inter-library loan at your local public library. The estimate is based on comparables.