This was the first "standard" format 10 cent comic originally produced for sale rather than as a giveaway. The print run was 35,000. It repackaged pages from earlier giveaways "Funnies on Parade" and "Famous Funnies: A Carnival of Comics"
Some sources such as Heritage Auctions list this as an issue #1, but Gifford (see series notes) does not (while listing some other one-shots as numbered). The indicia publisher is per Gifford but unverified.