See back of card.
Santa and Toy Bag. We're not sure where Santa is for this 1948 portrait. His bag is pretty full, so he may not have left for his rounds yet. That stool does look quite a bit like the stool from one of the 1947 versions, and he's still using the glass. This image would have worked well in drug stores and soda fountains selling Coke by the glass. Note the holly in his hat. It was most likely added by an artist at The Company since it does not appear in any other Sundblom original artwork.