There are more questions than answers here
#VintagePhotograph #VintageWomen #Masks #1902 #Edwardian #UniversityOfArkansas #WhiteDresses #MysteryPhotograph
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: https://archive.org/.../Razorback_YB1902/page/n69/mode/2up