(Assuming you are in the United States. Other jurisdictions will vary.)

Each photo in the scrapbook would need to be determined individually.

In general the photographer or their estate would hold the copyright unless the photograph was done under a contract or for hire arrangement that assigned copyright to another party.

Depending on the age of each photo, if a copyright expired without being renewed that photo would now be considered public domain. For photos created from the time your company was started after 1910 until around 1923 the term was 75 years. For photos created after 1923 but prior to 1978, the term is either 120 years from date of creation for unpublished photos or 90 years from the publication date for published photos. So it is possible that some of the photos made and published prior to 1925 are now (as of 2015) in the public domain. It is also possible that some of the photos were published without a copyright notice during the period when doing so would have placed the photo in the public domain upon publication. The requirement to provide a copyright notice at the time of publication was not dropped until after your company folded.

The problem with any of theses scenarios is being able to prove which of the photos in the album fall into which category. Without documentation to support your contention you are always risking the possibility that another party may step forward at a later date with solid documentation they own the rights to an image.

Without documentation to prove otherwise, the safe thing would be to assume all of the photos are still covered under copyright and treat them as such. If no evidence exists that documents who holds copyright to a particular photo, then the copyright to that photo is effectively orphaned until 120 years after each photo was made. After the 120 years have passed no one could renew the copyright since only the current copyright holder can apply for a renewal. If no documented copyright holder exists, then no one is eligible to renew the copyright. In which case each photo would pass into the public domain 120 years after it was made (75 years for photos taken prior to 1923).