From The ACL Movie Book: A Guide to Making Better Movies, published by The Amateur Cinema League, 1940.
The wipeoff / wipe described above has many of variations in 1930s and 40s cinema. One interesting example: the trailer for Andy Hardy Meets Debutant (1940), and the triangular wipes at around 1:22 and 1:40.
Also, this interesting, comic-book like “punch through” edit at around 2:05 captures the anarchic spirit of the film:
The simultaneity images from different zones of time in the wipe, like the dissolve, is perhaps cinema’s most radical contribution to our imaginative understanding of time.