Two items. Each is c. 1940s made by Reed & Associates ©Fawcett Publications Inc. Issued as store items and premiums, scarcer than others in this series (see item # 2778). Each is punch-out and illustrated envelope. Magic picture envelope is 7x10" with nice image of Billy Batson at left with lightning bolt in center and image of Captain Marvel right w/text "See Billy Batson Change To Captain Marvel Before Your Very Eyes!" Envelope is lightly but evenly tanned. Exc. with unused N. Mint picture. Shazam game envelope is 9.25x12-3/8" with nice front cover art of smiling Captain Marvel gesturing towards family playing game and back cover art w/text and graphics showing how game is played including: Build Billy Batson, Spin Shazam, Build Captain Marvel. Envelope is worn at right side with 1" tear at lower right corner. Fine. Game board has come apart across center o/w pieces are unpunched and Exc. Nice graphics throughout. Two of the best designed and scarcest of the Reed & Associates items.