The cartoon, which has recently been doing the rounds on Twitter and Tumblr, was part of the magazines series called 'With College Wits' and was published in the July 1921 issue.
If you are wondering what the 'flashlight' reference is all about, it's a nod to a particularly dangerous method of photography which was in use at the time.
As flashbulbs were not common by that point, some photographers would use flash lamps to get the most out of their pictures, however, the lamps operated by burning either a powder or magnesium ribbons.
This would produce an intense burst of light which would also emit noxious fumes and spit molten metal, which doesn't sound too pleasant and was more than capable of causing injury.
So the joke here is that the young man in the second picture is potentially being mortally wounded by the flashlight, which is morbidly hilarious.