Tim King did a pretty interesting article about Military Heraldry and The Shadow. Various intelligence units that use a variation of the silhouette motif for shoulder patches and id. As Tim says it could be coincidence since the image of a cloak and dagger character is pretty much how The Shadow presents. He does draw some parallels between some cover art, Rozen, Kaluta and Steranko being referenced, and the art that shows up to represent the units. A fun reveal and one I hadn't ever really considered.
Next is a brief overview of Will Murray's book, "Master of Mystery: The Rise of The Shadow". Pretty much just a tease for anyone who hasn't read the book. I'll be reading this book soon myself.
Now we come to the first part of a great look at the pulps and how they came to be. So many things had to come together just right so that The Shadow Magazine could come into being. It's a great read by Todd D. Severin and Keith Holt, the authors of "The Shadow - Mysterious Being of the Night part 1". I've read most of the information in some form or another over the decades but not all put together in such a nice timeline. You'll enjoy this and I look forward to part 2 in (I assume) issue 3.
The final article takes a look at The Explorers Club and the (possible) membership which included both The Shadow and Doc Savage. The Explorers League (a fictional version of said club) is used in some of the tales by Will Murray and also by Lester Dent. It's an interesting "What if" kind of article.
This issue has another cartoon and introduces a "Comments & Letters" page and also another "The Shadow Inquires" question.
That's it for this issue. As I said before, if you haven't gotten yours be sure and subscribe.