Originally credited to "Harry Parkhurst ?", but this is not him. He has very different horses, and the head of Golden Arrow rather small with long, broad neck, and very special hair locks in the back of the same neck, as in #44.
The art looks like Dick Ayers' very lively inking and figures, and Cazeneuve is credited to have ghosted him on "Boy Commandos". He is aso credited on Golden Arrow for 1943-45 by Jerry Bails' Who's Who. The art is very similar to his work on "Aquaman" in Adventure Comics #124, and credited stories in Star Sprangled Comics #45. So this story is most probably his. The horses in all these four Golde Arrow stories are identical.