I have a Windows Form Application written using Visual Basic. I am trying to put an image onto the form, using a PictureBox control and then write some text over the image using a Label control. I have done some searching online to try to figure this out, but nothing is working.

When I instantiate the PictureBox first, then the Label, the label does not appear. When I instantiate the Label first, it appears, but Label.BackColor = Color.Transparent is not doing what I expect. The two pictures shows this second case, with a white and a transparent BackColor.

Here is a simplified version of the code, which appears in the Form_Load subroutine:
Code:
Dim pb1 As New PictureBox
pb1.ImageLocation = "<jpg file>"
pb1.Location = New Point(x , y)
Me.Controls.Add(pb1)

lbl1.Parent = pbCurCloud
lbl1.Location = New Point((x1, y)
Me.Controls.Add(lbl1)
I have tried adding lbl1.Parent = pb1 and lbl1.BringToFront(), but those have not helped. What I would like is for the label background to be transparent so that which is seen is the image and the text. What do I need to change?