Looking around a bit, here are some references I could find:
World's Fair, October 23, 1937, Leicester Magic
Circle Competition Rerport: "Billy Francis was just one point behind with an intriguing label on bottle effect, the label being made to travel from the outside to the inside of bottle. This was done without covering of any sort"
World's Fair, May 18, 1940, Leicester Magic Circle Report: "Mr. Billie Francis, our treasurer, then performed his trick was with the aid of an ordinary bottle of beer. After having poured the contents of the bottle into a glass and pointing out that its label was on the 'outside' of the bottle, he flashed his torch and the label suddenly found its way to the 'inside' of the bottle and was immediately passed out to the audience for examination. A quick but very snappy effect."
Linking Ring, June 1976, Evansville Ring 56 Parade: "TRANSFER" Effect: A label mysteriously transfers from outside a bottle to the inside. Unknown author.