96-page anthology. Notable for being, perhaps accidentally, the first appearance of The Sandman (I). Because this went on sale 30 April 1939, it slightly outpaced Adventure #40, which was probably meant to be the first appearance. It's unclear which of the two stories was the first to be completed by its creators--although almost certainly "The Tarantula Strikes" was the first to be written. Possible alternate price of 15˘.Technically, an unnumbered issue.
DC Comics website http://www.dccomics.com/errata made a correction to The DC Rarities Archives Volume 1 by stating that Worth B. Carnahan drew the back cover.