Sneed Old Master Fly Reel

I found this reel on Ebay today and ended up winning the bid.  The limited information I found online says it was made in Detroit in the 1950's.  The company made both auto and single action reels.  The single action reel was promoted as "the most modern single action reel on the market. It's streamlined like a B-29 and made from the same fine materials." 

I'm hoping this isn't a broken automatic reel.  By the looks of the picture I may be in for a little surprise when it arrives.

Auto version with literature found on an auction site

<UPDATE>

I have some feedback on this reel from a Fiberglass Flyrodders member.

"I have some information that will help. Cool find, and looks to be in great shape. Your reel is the Sneed Old Master F-1 Manual Single-Action fly reel as I do not see the automatic lever in the auction pictures. I own the other model, Sneed Old Master F-2 which is the Combined Automatic and Manual reel for fly rods.

The Specifications for your F-1 Manual Single-Action is described below.

It has a Aluminum Alloy Frame, single piece construction, black nickel plated over the aluminum.

Aluminum Spool, anodized and colored.

Bearings, bronze. Instant take-down by lifting cover of crank handle and swinging out attached horseshoe retainer.

Playing Brake, has adjustment (under cover cap) to vary pull required to strip line, set it just under the strength of your leader and the fish cannot break off even though you are holding the crank.

Frame, is streamlined so that no line guide is necessary. Strip your line in any direction without danger of scuffing.

Spool Capacity, HDH line and one hundred fifty feet (150') running line. This is plenty for Steelhead, Salmon or the largest Bass.

Weight, approximately six and one-quarter ounces (6 1/4 ozs.).

Diameter, three and one-half inches (3 1/2").

Colors, Black and Gold

New Single Direction Stripping Drag, that is absolutely noiseless and trouble free."