Frankfort Photo Gallery
Suter-Phillips Photos in the posession of Virginia Taylor of Louisville, Ky.
The photo below may be of a Suter or Phillips family.
I'm guessing it's Jesse and Elizabeth Suter, at 580 East Main St, and was taken before 1908.   Read on.
Below, this is definitely the smokestack seen in the Suter photo.   This taken from East Main St, a bit up from the Arsenal.

More on Suter: (emphasis on the text in yellow)
1900 Census, Leonard Suter, b.1883, at Gratz, Owen Co, hired hand.
Ky Deaths: Leonard M Suter, d.age 80, 31-Aug-1962 Carroll Co
1900 Census Franklin Co, 2 Suter families, at Forks of Elkhorn and Frankfort Ward2.
  Frankfort Ward2, at 580 Main St
    Jessie Suter, 64
    Elizabeth Suter, 62
    Fannie Suter, 42
    James A Suter, 29
    The 1907 map does not show East Main past 532, however, 580 would be a place that I would suspect for the house in the photo.
   Forks of Elkhorn
    John W Suter, b.1853 (Dr Suter whose house was painted by Paul Sawyier? here and here?)
    Elizabeth Suter, b.1863
    Oscar L Suter, b.1881
1908 Frankfort City Directory:
   Jesse A Suter, retired, and Elizabeth, house Thorn Hill
  Fannie, house Thorn Hill
  Edgar F Suter, manager Bacon's Grocery, house Thorn Hill
   Leonard M Suter, manager Ky Life Insurance Co, house 408 Broadway
  Javana Suter and Annie, laborer, house 251 Ky Ave
  Lyman Suter and Julia, retired, house 258 Ky Ave
  Mrs Marcia Suter (widow of John), house 326 Campbell
  Lonie Suter, mechanic, rooms 302 Madison
  John W Suter, deputy sheriff, house Forks of Elkhorn
1910 Census Franklin Co
   Frankfort Ward2, at 277 Holmes St
    Alonzo Suter, 25, head, cutter at shoe factory
    Mattie Suter, 34, wife
    Gathne/Guthrie? William Suter, 11
    Margarite A Suter, 7
I think I've seen a photo or two of the houses on East Main that were across from the Arsenal
before they were torn down in the 1980s, I think it was.
Would be nice to compare to the Suter house photo above.
2-Jan-2008, Virginia Taylor now has her photos on her own web site at:
http://www.thetaylorfamily.com/OldFrankfort2.htm