This is an incredible Treasury of Children's Literature from 1954. The book is titled, "Enchanted Isles" and is a part of Merrill Books' 'Readtext Series' (1 #3 in a series of 4). The book was selected and edited by Eleanor M. Johnson and Leland B. Jacobs. The illustrations are amazing and some stories included are: "Dr. Doolittle and the Pushmi-Pullyu" by Hugh Lofting, "The Elephant's Child" by Rudyard Kipling, "The Ugly Duckling" by Hans Christian Andersen and many, many more.
