Cover illustration: "No Wind Today," by Nicolas Mordvinoff.

Contents:
"Peter Penguin Talking"
"Story of the Cover"
Margaret Jamison, "King of the Range: A Story of Early Texas," illustrated by Kurt Wiese
Eleanor Muth, "Night Enchantment" (poem), illustrated by Frances Dayton
Julilly House Kohler, "The Boy Who Wasn't Lost," illustrated by Maurice Brevannes
Wilfrid Bronson, "Glider Fishes"
Barbara Beal, "Yellowstone Park: Nature's Wonderland," illustrated by Jon Nielsen
Elizabeth Coatsworth, "The Expedition," illustrated by Sandra James
Carolan White, "The Wedding" (poem), illustrated by Lenora Combes
Diana Thorne, "Blunderland: Served Him Right!"
C. Walter Hodges, "Sky High," illustrated by the author
Marion Holland, "The Merry Mice"
La Vada, "Sea Shell Ornaments"
Robin Palmer, "The Puzzlewits"
Hilda Miloche, "Sandra Has Fun in the Sun" (paper doll)
Barbara Nolen Book Reviews (William Pene Du Bois, The Twenty-One Ballons; Daniel Defoe, Robinson Crusoe, illustrated by Lynd Ward; Glen Rounds, Whitey and Jinglebob; Iris Vinton, Flying Ebony; Robert Davis, Partners of Powder Hole; Theodore J. Waldeck, The Golden Stallion; Hope Newell, The Little Old Woman Carries On; Harold Courlander & George Herzog, The Cow-Tail Switch; Camilla Campbell & Ena McKinney, Star Mountain and Other Legends of Mexico; The Golden Bible, illustrated by Rojankovsky)
"Penguin Club, by Our Young Artists and Writers" (Brenda Nickerson Hall, "Vacation"; Susan Williams, "Tar, My Cat"; Frances Bates, "The Star"; William Graham, "Flowers"; Craig Jennings, "Work Is Wonderful"; Janet Mathieu, "Ondl"; Ruhamah Wakeman, "The Candy World"; Mary Ellis Van Meter, "Night and Day"; Katherine Ann Bishop, "Alley Dog; Tommy McCarty, "Spring")