YGuo Moruo just returned to Shanghai from exile in Japan.
His friends, Zhang Fengju 张凤举  with his new bride, Shen Yinmo, his constant companion Zhubaoquan,  and Shen Wangsi 沈迈士 enjoyed a fish and wine fest and produced this joint handscroll.
  Soon after this, Guo joined the Red Army just outside of Shanghai facing the Japanese invasion.

The third paragraph is a joint poem by Shen and Zhang,  saying the impromptu verse alternately.
 Shen begins the first line.
 Signed by both.

才飲自家酒，酒氣已沖沖。玉箸依然碧，胭脂分外紅。多魚歎今日，凡韻怪茲雄。沫若輸一着，聰明半在躬。 即席聯吟，沫若易末兩語為「賭酒誰之罪，吃虧應反躬」.
 尹默 ( Yinmo)  鳳舉 (Fengju)
Only drank my own wine, already heady with drink, the jade chopsticks so green, rouge is extra red, fish abundance for today, Where is the rhyme, Moru steals a look, Clever to bend and bow."

(Signed) Yinmo 尹默 and Fengju 凤举.

See full text and translation of above scroll here.
YGuo Moruo just returned to Shanghai from exile in Japan. His friends, Zhang Fengju 张凤举  with his new bride, Shen Yinmo, his constant companion Zhubaoquan,  and Shen Wangsi 沈迈士 enjoyed a fish and wine fest and produced this joint handscroll.  Soon after this, Guo joined the Red Army just outside of Shanghai facing the Japanese invasion.
The third paragraph is a joint poem by Shen and Zhang,  saying the impromptu verse alternately.  Shen begins the first line.  Signed by both.
才飲自家酒，酒氣已沖沖。玉箸依然碧，胭脂分外紅。多魚歎今日，凡韻怪茲雄。沫若輸一着，聰明半在躬。 即席聯吟，沫若易末兩語為「賭酒誰之罪，吃虧應反躬」.  尹默 ( Yinmo)  鳳舉 (Fengju)
Only drank my own wine, already heady with drink, the jade chopsticks so green, rouge is extra red, fish abundance for today, Where is the rhyme, Moru steals a look, Clever to bend and bow."
(Signed) Yinmo 尹默 and Fengju 凤举. 
See full text and translation of above scroll here.
Zhang Dinghuang