The Reporter Candace look-a-like of MCMXIV is likely an ancestor of the modern day Flynn Family, like the Candace of Today she tried to prove that her Phineas and Ferb counterparts are doing something fantastic, but unlike her counterpart, she idolizes them and their adventures and wants to make their actions known to her editor and worldwide.
The MCMXIV Candace seems to be far more mentally stable than the Candace of today. While both are willing to be comical and find downright odd and eccentric ways to bust (get the scoop in 1914 Candace's case), the MCMXIV version doesn't want to bust Ohio Flynn & Rhode Island Fletcher, but idolizes them and wants to make their actions known to the whole world, making her far less of a Frenemy towards them.
Candace seems to be able to find where the dashing archeology duo in the world. Giving the fact that she carries around a camera implies some skill at photography.
Chief of Newspaper in MCMXIV
The chief seems to be getting on thin-line with this reporter's constant reporting on the dashing duo to no avail and doesn't seem to believe her. It is lightly implied that they are related, though has yet to be proven.
Judging from the chief's response to Candace's excitement to their arrival it would seem that she has done at least a memorable amount of works on them beforehand to the episode: "Phineas and Ferb and the Temple of Juatchadoon". It is unknown if she also knew about Doofenshmirtz.
It is lightly-hinted that the Chief of Candace's newspaper is a relative to Candace and is why she doesn't fire her for her wild goose chases. If this is so, then that would mean that they are the only two Flynn-Fletcher family member counterparts who are related in MCMXIV.