First edition of the first book in the Paddington series. Octavo, original cloth, illustrated by Peggy Fortnum. Presentation copy, inscribed by the author on the half-title page, "To John with all good wishes Michael Bond. Near fine in a very good price-clipped dust jacket with a chip to the back panel. Housed in a custom half morocco clamshell box made by the Harcourt Bindery. An exceptional example, rare and desirable signed and inscribed. "Paddington's appeal came not only from the hilarious situations and mishaps in which he found himself� � but also from Peggy Fortnum's pen-and-ink sketches, which capture Paddington's bewitching charm and combination 'little boy/small bear' character� � Bond's books recognize the everyday worries of small, accident-prone children and treat their fears with compassion, wit and laughter" (Silvey, 70-71).