~ THE PRESIDENT'S RETIRING ADDRESS. To My Fellow-members of the Art Students’ Club: It is my privilege and pleasure to submit the fourth annual report of the club's ever-increasing influence on our student life. April and May marked red-letter days in our history, when the school gave demonstration of its most excellent esprit d'ecole in putting forth every effort to carry the by-law which had been submitted, at their request, to the people. We are much indebted to the B. C. Art League, who organized and financed the campaign, with the club contributing its mite of fifty dollars. Although the voters did not see fit to build us a school, by no means were our efforts in vain, for they brought before hundreds of people who had barely known of the school's existence, exhibitions and demonstrations of our work. A milestone of extreme importance was reached on June 14th, 1929, when the school, bedecked with masses of flowers, witnessed the gala occasion of our first graduation exercises. It was with pride in our hearts that we saw the eleven candidates receive their diplomas. Tea was served later to the guests attending the ceremony and viewing the [12]