London: Methuen & Co., (1927). First trade edition. 8vo. Illustrated by Ernest H. Shepard. Publisher's red cloth, stamped in gilt, spine ends lightly rubbed; top edge gilt; illustrated endpapers; offsetting on half-title and verso of final text leaf, from binding glue; in original pictorial dust-jacket, panel toned and soiled, repaired closed tear at top of front panel, closed tear in bottom of same, small losses along panel edges, small closed tear at top edge of rear panel. Payne III A

First trade edition of Milne's third Winnie-the-Pooh book.