Weird Tales vol. 23, no. 5 (May 1934)
The guy is holding the knife rather noncommittally, as if to say "I have this knife, would that scare you at all …?”
Cannot unsee, her bejewelled bra thingy looks like a goofy bird looking out at us.
Original magazine: https://archive.org/details/Weird_Tales_v23n05_1934-05_sas