Decades ago, a business called Billy's Dew Drop Inn operated on the shores of Pillings Pond, on a site that is still used by a couple of small businesses today. A close-up look at this particular photo finds that the place was selling Gerry's Sweet Cider for 5 cents, produced nearby at the former Gerry Cider Plant in Lynnfield. Along with Gerry's Cider, the other beverage being advertised for sale was Moxie, which, as a history lover, I wish I could bring myself to like. My grandmother kept a six pack of the stuff in her refrigerator for many years though.
There are also some extremely archaic looking gas pumps out in front of the place, with a large number of very, very vintage looking automobiles parked around the place. I'm thinking this picture is from the late 1920s or early to mid 1930s based on the look of the cars.
Another sign on this photo says that canoes are rented there - even if this particular image does have more of a dead-of-winter theme.
An Internet search finds only one other reference anywhere online to Billy's Dew Drop Inn - and that's the Google Books version of the Warren Fells book of vintage Lynnfield photos. The Fells book notes that Billy's Dew Drop Inn sold gas and refreshments, and that particular photo shows more of the old building - including a separate entrance with an archway and the word "Rainbow" above it.