Image: via great nephew Bodie Bailey posted at http://forum.skyscraperpage.com/showthread.php?t=170279&page=239 .
“Charles ‘Dad’ Bailey opened his newsstand after his previous business (Luggage Store) was destroyed in a fire and his bookkeeper had neglected to pay the insurance premiums. His stand was very popular and he made a good living from it. He lived until he was 90 and kept the stand until just a very few years before he died.
His great nephew Bodie Bailey has a cool flickr site with all sorts of photos and family stories. As far as the location of the stand, Bodie is unsure but he thinks it was on or near Florence in South Los Angeles close to USC.
Excerpt from image link above.
The magazine at the center bottom position is the October 1939 issue of Daring Detective.