Late (wartime) version, with no decorative metal components, and pull-string inserted through a hole, not tacked.
One piece white box with blue printing, including the three-trees logo and the Parents' Magazine logo. Price of $1.25 (underlined 25) written on left end of box. The box also includes a label to "stick on the back of a penny postal" in order to request a catalog.
This is a complete version of Holgate #1037 "Baby Choo-Choo", with pull-string and ball.