Context is Pep Comics (1940) #024, page 5
Transcript:
Edward Grigas: And now, gentlemen, the Suicide Club will hold its nightly meeting!
Just a one-off villian-of-the-week for a superhero called The Shield. Seems like he might've-sort've been in the DC universe. The Penguin was created in December 1941, and this comic was published in February 1942, so quite possibly inspired by the Penguin.