It is most likely health insurance

Soap flakes from Saponite for washing delicate laundry, woolens, silks.

Detergent

Canned sardines, first draft (See second draft).

Sardine preserve, second draft (See first draft).

Sausage.
Cappiello created many poster designs around 1933 for Mireille Sausages. This one could be one of them.