Paterson was the birthplace of its proudest son Louis Cristillo, better known to the world as Lou Costello, the funny half of the comedy team Abbott and Costello. In their movies, Lou always tried to get the name of his hometown into the script. Their "Who's on First" comedy routine is probably the most famous and funniest of their era. It's still available on You Tube and other sites. Watch it.

https://www.youtube.com/watch?v=5FsJe4DScDs
Addendum: In the film clip, look at the name on the outfield wall.

While not from the same angle, Google map's 3D allows us to see where the boys and their dog were most likely sitting, now Soldier Monument Heights, and the building along the river survives although somewhat changed. The island now has a business on it.

The kids' guardian, I'd imagine. Just couldn't see children playing up there today.

The two buildings at center appear to have attached sidewall restrooms most likely dumping directly into the river, as would have been common back then prior to sanitary understanding and pollution controls. That white building looks like it has a double decker to service two floors.

For this Labrador, Newfie? anyway. He is at the stance known as "The Glare" as in the movie Up when Dug sees a squirrel he gets that stance.

Only God knows what is going thru the dog's mind and what has its interest with the boys it is looking at.

Maybe protective?

That’s just about a perfect photograph with the kids and dog overlooking the beautiful river. We need to take more time in our lives to appreciate the beauty of nature.

Also, I’m sorry to read about the fire that destroyed most of those buildings.

The fine dog looks like a Curly-Coated Retriever, which the American Kennel Club describes as "Poised, proud, and wickedly smart", which seems to be the case here. Also good with children, it is one of the oldest retriever breeds, and a good companion for youngsters in search of adventure.

Looking at this panorama captures what led William Carlos Williams (who lived in nearby upscale Rutherford) to write a five-part epic poem about Paterson. It's also the locale and subject for a terrific 2016 movie directed by Jim Jarmusch (see below).

Central Paterson would be swept by a fire in 1902. Insofar as the burned area centered around City Hall - that tower at the right of the photo - it's fair to say that at least a few of these buildings weren't long for the world.