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So I dug further and found a full copy of the UofA Yearbook from 1902 - They were in fact a Club. One among many interestingly named clubs such as :

"The Federation of Fudge Fiends" / "The Benificient Band of Terrible Tumblers" / "The Mandolin Club" / "The XXX Club" / "Eclectic Club" / "The Sourgrape Society" / "Cunning Clan of Cutters" / "The Pie Eaters"

If you'd like to peruse them all - go here and then to page 70 of 128: archive.org/.../Razorback_YB19

@Mamluke ... Very interesting photo, and more than a little curious about the 2 figures in the back row, standing with their backs turned... and what appears to be 2 full-face masks layed on top of the dresses of the end pair of ladies in the front row.

The photo seems to suggest the masks might 'belong' to the figures at the back, and even when removed, their faces are still not visible. Pretty powerful symbology for its time and context.

American Heritage citation:
idioms.thefreedictionary.com/h

TheFreeDictionary.comhas beensDefinition of has beens in the Idioms Dictionary by The Free Dictionary

@Mamluke
One small note. The link comes back as:

"Item not available

The item is not available due to issues with the item's content."