POTTER, BEATRIX. The Tale of Squirrel Nutkin. London: Frederick Warne and Co., 1903. Title vignette and 27 color illustrations. 12mo, original grey paper boards, upper cover with inset circular color pictorial label, color pictorial endpapers (Linder 1 [used four times]), lower corner of upper cover rubbed, with board showing; booksellers blindstamp to front fly-leaf, minor marginal soiling to endpapers, short closed marginal tear to one leaf. FIRST EDITION, FIRST ISSUE. Quinby 5; Linder, p. 423; V&A 1652. Beatrix based this story on a picture letter to Norah Moore, all about Squirrel Nutkin's adventures. Lakeland scenery was used for the backgrounds. The first issue bindings were bound in either grey or dark blue boards. Potter received advance copies in July, 1903 and wrote Warne's "...I like the grey binding, but they are both very pretty papers."