Per the consensus of the members of The Reed Crandall Appreciation Page on Facebook on 4 August 2021, this work is not by Reed Crandall. The original indexer suggested that maybe the pencil work was done by Crandall.
The members of The Reed Crandall Appreciation Page suggested maybe this was done by Al Bryant. However, Per Bails' Who's Who, Bryant left comics by 1948 due to a self-inflicted car crash and subsequent eight-year hospitalization, placing any 1948 credits for Bryant in doubt. So currently, no creator can be confirmed for this cover.
Synopsis added by Craig Delich 20 January 2008.
Woolfolk credit from Martin O'Hearn, at http://martinohearn.blogspot.com/.
All Gustavson credits verified and courtesy of Terry Gustafson, son of Paul Gustavson.