A friend of mine sent me pictures of a reel that he has had for many years and has not been able to identify. Please see the photos below. The reel has a sliding click adjustment on the faceplate and a sliding drag on the tailplate. There is another heavily knurled knob on the faceplate, but he says that is seized up, so I don't know what it does (free spool???). It is 2 3/8" in diameter with 1 9/16" pillars.
It appears to have a heavy nickel plating over brass. The use of hex nuts is unusual, as are a number of characteristics of this reel. Sorry about the funky angles of the photos.