Vol. 1 #1. 7x9.75” Canadian version w/ 128 pages is exactly the same as the U.S. version but has “Printed In Canada” at upper left of front cover and different ads. The U.S. version came out in April, 1931, this one is cover dated May 1932. Front cover has art of Asian man clutching his chest, stories include book length novel “The Living Shadow” by Maxwell Grant and “The Green Light” by Walter B. Gibson. Covers have usual wear around edges, upper left corner of front cover has a few edge pieces gone in 1x1.5” area extending onto spine. Staples have lt. oxidation. Overall covers Good/VG, contents supple and Fine. Considered the first hero pulp, this first issue is more rare than “Action Comics” #1 or “Detective Comics” #27 and was published several years earlier. An extremely rare and desirable publication, the first we’ve offered in our 46 years.