It's not really fair to call this movie, "Wizard of Oz", although it is based, very loosely, on that story. Essentially,Dorothy in this story is a 17 year old about to turn 18, when she is to discover she is the ruler of Oz. There are designs to keep her from ascending the throne by the evil Emperor Kruel and cohorts. The tin-man, cowardly lion, and scarecrow are disguises taken on by Dorothy's friends to avoid detection. The wizard is truly a shyster, and only vaguely useful.
The highlight is Oliver Hardy in an early role. The low points are stereotypifications of the one African American actor; especially a scene where he eats watermelon and a scene where 'dark meat' is referred to jokingly in regards to a lion's dietary preference. However, this actor was very humorous in the slapstick role he performed, and most of the main actors are involved in slapstick roles throughout.
There are some nicely done 'stunts' performed that seem amazing for the time. The print it was taken off of was very good, although the music and narration were not only unnecessary, but inapproprate. For the low dollar amount, this film is worth having in your collection. I'd much prefer the 1910 "Wizard of Oz" made by L. Frank Baum if it was available.