Len, without a up close look, I belive it is either a unit to make a level wind reel out of a non leve wind or it may be a early strike indicator atachment. are you going to take it to the Show at HOLIDAY Ohio on the 18th? and is that the reel that came with it or another you had, as it dont look as if it matches.Col. Milton lorens aka SWIM JIG in 5degree OHIO
My guess is that it's a line-activated antibacklash. The line would go through the loop at the end of the spring. Kind of an alternative to those ugly, non-red bails you find in front of South Bend reels.
It looks like a close relative of the Aqua Sportsman reel, which has a similar spring:
Oh yeah! Wake up Phil and Milt and tell them the reel was made by Aqua Sportsman, Inc., Cincinnati.
The wire loop (20) is supposed to be wedged under the pillar to increase tension, but it doesn't take much to see that lengthening the wire would allow the outgoing line to do some of the work.
Ok please list that reel on the States site, Acording to my eyesite on the directions says 1940? I was a wee bit young at that time about 3 years old! My first reel then was the old stand by a Pfluger akron no frills! Still in the faimly as FROGY JIG now has it. As for the device, it looks more like a dual purpose ie. anti rev and a strike indicator when you set the rod down in a rod holder! Harvy should have picked up on that as he was already about to retire in 1940 ha ha Phil, hes just a KID yet, Good imfo Steve again thats what ORCA is all about! Col. Milton Lorens aka SWIM JIG in a WARMING OHIO 34degrees today ah life is good