This was a 36 page promotional book that was supposed to be given out to movie theatres in April ,1939. Plans to distribute the comic never materialized because the series was deemed to be unsuccessful. The comic was found in the office of the departed publisher of the comic, and was sort of a hype when it was first discovered in the late 1970's.
This was because the comic featured the first appearance of Bill Everett's legendary creation, Prince Namor the Sub-Mariner in an eight page black and white story. Six months before Marvel Comics #1, (the comic people believed Namor first appeared in up until then). The comic is extremely rare, with only 6 known copy's existing.
Three more comic covers where found for Motion Picture Funnies Weekly, issue 2,3 and 4, but these where never made into a real comic book. Making number 1 the only 'real' whole comic in the series and one of the rarest comics in history.