Clown Bust

I don't know very much about this piece.  It was given to me as a gift 40 years ago in Toronto, Canada.  The woman who gave it to me worked for a couple with the last name of Zaks.  They were art collectors in Canada and donated an entire wing to the Toronto Art Gallery.  Many pieces came through their office.  The woman that I knew admired this clown bust, and they gave it to her as a gift.

The bust seems to be painted plaster.  It stands 20 inches high.  There is a small chip in one corner at the bottom of the base where white plaster shows through. 

I cannot find a signature.  One may exist, but I can't see it.  A sheet of felt is glued to the bottome of the base, and there may be a signature under that, but I didn't want to remove it.

The closest image I can find on the internet is a bust by "Harold Studios, Inc."

I would appreciate an appraisal and any information you may be able to offer on the artist.

Sincerely, Thomas Baxter

Fair