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Josie by Carl Ed was one of the toppers for Ed's comic strip Harold Teen, and appeared either on top or underneath it during the latter half of the 1930s. Although Harold Teen is a strip about high school teenagers, as its name suggests, Josie focuses more on younger children and their escapades. There is much to be found on the Internet about Harold, but not so much about Josie or her friends, unfortunately.
Here we see Butch trying to extort money out of Monty by "selling" him some snowballs that he's made. As with most comic strip bullies, Butch is not very smart, and doesn't realize that strong arming someone into purchasing a weapon generally incentivizes the buyer to use it against you. Butch should work on his salesmanship skills and in the future try to convince Monty to buy them due to their superior craftsmanship and use of artisanal snow.