The above page had been offered on ebay sometime ago as a "comic sheet." The seller didn't know the source of the publication it came from, but I think it is from the American magazine Good Housekeeping which had published illustrated story adaptions of Disney cartoons from 1934 onwards till early 1940s.
The story in this particular page is an adaptation of the cartoon Big Bad Wolf (1934) which had also spawned two books, one hardcover, the other softcover, in the same year. A close analysis of the illustrations in the magazine page and the books show that they feature revised forms of the same art material (by Tom Wood). For example, the figures on the illustrations on the middle row are identical to the two illustrations in the books, albeit being decouped from their backgrounds:
More interestingly, the first picture on the first row is composited together from three illustrations from the book (or vice versa?):
On the other hand, while the first picture on the third row of the sheet is similar to but not identical to one of the illustrations from the book, the remaining two pictures of the sheet do not have their matches in the book.