Churchill.- Fearon (Percy Hutton) "Poy". Churchilla Carmen practicing her Vamping Arts, pen and ink cartoon, signed, pencil caption beneath, Churchill dressed as Carmen dances on stage at the British National Opera in front of a seated and disgruntled Don Jose holding a fan titled "Budget", 296 x 209mm., 1929; The Cup that Cheers, pen and ink cartoon, captioned above and with explanatory notes below in pencil, Neville Chamberlain depicted as Queen Elizabeth I and sipping from a cup of tea marked 'Tea Duty', speaks to Winston Churchill in the guise of a courtier "Forgive me, Winston, if I resume the old custom", signed, 276 x 203mm., [April, 1932]; Distinguished Guests Arrive, pen and ink cartoon, pencil caption beneath, Churchill dressed as an eastern potentate "Chahn-sah-la" is accompanied by a diminutive servant "Samu-el" bearing a large sun-shade, signed, 320 x 205mm., 29 June 1928 (3)

⁂ Of the first, the British National Opera Company was founded in 1921 by the artists from Sir Thomas Beecham's opera company after it closed. The BNO was forced into voluntary liquidation in 1929 after a tax demand for £17,000 for which Churchill, as Chancellor of the Exchequer, is presumably here being held accountable.