Players of Carlton FC, the text says "Season 1871 - Winners of the South Yarra Presentation Cup". 
<p>From left to right top row; W. 'Bill' Newing, W. Dedman, F. Goodall, J. A. Clark (J. E. Clarke?), W. Johnson*. J. Ellis, J. MacGibbon, H. Guy, J. Robertson, O. T. L. O'Brien. J. Dobson*, J. Walls (Vice president), A. McHarg (Committee), W. Robertson (Vice president), F. Gillman*. T. Aram*, J. A. Donovan, G. Coppin (President), J. Conway, J. S. Dismorr? Harry Bannister, S. Wallace, T. P. Power (Sec/Treasurer), A. Blanchard, G. Kennedy.
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J. Williams, T. Gorman, W. Williams. Frank Hillsden.
Unknown author<span style="display: none;">Unknown author</span>
<a rel="nofollow" class="external text" href="http://www.blueseum.org/1871">Here</a>