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Estimate: $ 700 - $ 1,000
WALTER EARLY. "'But who are you going to shoot first?' asked Elsie." Illustration for a 1944 Borden Dairy Company advertisement featuring the beloved bipedal bovine mascot, Elsie the Cow, with Young & Rubicam agency stamp on verso. Ink, watercolor, and correction fluid on board. 394x381 mm; 15 1/2x15 inches, on 20 1/2x19 1/2-inch board. Signed in left image. Edges slightly nicked.