The first two pages of The Reign of the Superman. The character depicted in the illustration appears to be The Superman.
Reign of the Superman is a short story by Jerry Siegel and Joe Shuster published in January 1933. It is the earliest known instance of the Superman name. The story features a very different version of Superman - instead of a super strong caped heroic protector, this is a bald villainous character with mind-based powers, posessing telepathy, as well as the ability to manipulate other people's minds.
Story[]
A mad scientist, a chemist named Professor Ernest Smalley, randomly chooses a vagrant named Bill Dunn from a bread line and recruits him to participate in an experiment in exchange for "a real meal and a new suit". When Smalley's experimental potion grants Dunn telepathic powers, the man becomes drunk on power and seeks to rule the world. This superpowered man uses these abilities for evil, only to discover that the potion's effects are temporary. Having killed the evil Smalley, who had intended to kill Dunn and give himself the same powers, Dunn was left unable to use his knowledge to recreate the secret formula. As the story ends, Dunn's powers wear off and he realizes he will be returning to the bread line to be a forgotten man once more.