Hawks of the Seas - Will Eisner - Oldest Existing Eisner Art - 1937 (2 add'l panels from page 59 of 123).

This is Will Eisner art from WAGS Comics, the Hawks of the Seas. Hawk was Eisner's first major character and it was published in "WAGs," a weekly comic created/sold by Eisner & Iger for the UK, Australia and New Zealand. It reprinted US comics strips BUT had a few new characters with original art. The first new one was HAWKS OF THE SEAS by Eisner.

I believe these panels are from 1937 from the 59th page of Hawks out of 123 in total.

Hawks of the Seas was later reprinted in JUMBO Comics.