向山(むこうやま)から見た宮ノ下。正面の白亜の建物は明治20年(1887)に再建された奈良屋ホテル。その奥に明治24年(1891)竣工の富士屋ホテル本館が見えるので、それ以降の撮影である。右手の二階建の大きな建物はつたや旅館。その下に白鷺の滝と早川の流れが見える。中央下方は五段旅館。This is Miyanoshita as seen from Mukoyama. The white building in the centre is the Naraya Hotel completed n 1887. As Fujiya Hotel, built in 189,1 is visible behind, this photo was taken after that. The large two-story building at the right is the Tsutaya Ryokan (Inn). Shirasagi Waterfall and Hayakawa River are seen below. The building at the bottom centre is Godan Ryokan