To continue this a little more:
To select a photo, write the article, edit the magazine, typeset it, print it, and distribute it by January, that image probably had to be taken several months prior to publication, which dates the image to sometime in 1900. This is corroborated by the fact that sail numbers (letters actually) were not on the boats until the 1901 season. Builder's trials of these smaller boats were usually conducted by one man, and this looks like an owner and his party. In Buzzards Bay, boats are usually out of the water by the end of October, so it is safe to assume that this boat was new for the 1900 season, or earlier. Consequently, it must be one of the original 11. And, since Nora was not one of the original 11, she can't be the boat in the photo.
This all supports Adam's supposition that the image used was some type of file photo, and editorial license was used by the caption writer.