4to. Numerous illustrations from photographs and drawings. Original limp pictorial faux black leather stamped in blind and lettered in gilt on upper cover (joints rubbed).

ONE OF FAULKNER'S EARLIEST BOOK PUBLICATIONS. Faulkner's drawings for "Social Activities" and the "Red and Blue Club" appear on pp. 111 and 113, respectively (signed "William Falkner" in the plate, before he changed his name to Faulkner). The year prior, Faulkner contributed a drawing in the 1916-1917 Ole Miss annual, which marked Faulkner's first appearance in print. Faulkner attended Ole Miss in 1917, 1918, 1921, and 1922, taking a two-year break to join the Royal Canadian Air Force fighting in WWI. 

Of these collegiate annuals, Petersen wrote that, "The Ole Miss annuals have a particularly treasurable quality about them: they breathe with the life of Faulkner's early career. Collectors obviously desire certain of the annuals because they contain publications of some of Faulkner's first creativity, but each volume also contains dividends.... Which annuals to collect may seem a question of some complexity when all choices are considered. Obviously one wants those containing Faulkner's contributions published in 1917, 1918, 1920, 1921, and 1922." The Petersen collection catalogue notes that the annuals were virtually the last items he found, after forty years of collecting. Petersen IV, I:2.