Then. Eastern Avenue bridge. 1900-ish I'm guessing. Looking west, I believe. The spot where the photographer is standing is now - best guess - the southbound lanes of the Don Valley Parkway.
Now. May 2012. A bridge to nowhere. This bridge is rusty and looks similar to the then picture, but this structure dates from 1933. The original bridge was destroyed by ice. The Don Valley Parkway put an end to the usefulness of this bridge by bypassing it in in 1964, so it's been marooned since.
Some of you may recognize the now picture from previous use here at UT. I posted it awhile back in Goldie's photography thread. The bridge is worth a visit if you have nothing else to do. Enter the bike/walking path from the south side of the Queen Street bridge and walk a few hundred yards south, the gap in the fence may still be there.