You are bidding on a vintage and pretty cool old shoe dressing product from the 40's or 50's, I'm guessing.   This KLEAN-M-WHITE  -  Powder Bag, is an original mid-century shoe product which contains a powder bag with white powder.  You remove the bag in its inner-mini-box, and you apply the powder to your white shoes that are BUCK, SUEDE, NONBUCK, or FABRIC.  When you dabbed it, it would clean and revitalize the whiteness.  

This is an authentic shoe product from a great old company out of St. Louis.  But I cannot date it exactly.  It looks like a solid 40's or 50's item.  This is apparently a rare item, and it looks like the contents still may be effective.  But I am not sure.  I suggest it is only a collectible and not usable.  It comes in the original box in the condition you can see in the photos.  If you're a fan of old shoe products and such, this is a great find for your collection.  

The outer box is about 2 5/8" square, and 3/4" high.  If you can help me date this, I'd be very appreciative.   

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See the photos for the condition of this cool old item.  It is GOOD overall. The inner bag and its holder inner box is very good, and it still contains most of the original powder.  The OUTER box has wear and staining and some damage from over the years.  But it is all visible in the photos. I would be happy to get additional photos for you if you would like!