Nice Philco!
That's a very high-end 1939 set and a steal at $50. I own the earlier in the series 37-116X, one of the first radios flogged with the "High Fidelity" label, and it pushes out incredible sound... the bass from regular ol AM stations has to be heard to be believed. Too bad it's almost exclusively Tex-Mex, conjunto, and norteno AM musical programming around here...
Interesting to note that this CL 1939 set is somewhat equivalent to an early 80's receiver, in that its a step down from the products of a couple years earlier. The techological peak for AM radios was pretty much over after 1937. Some additional flash features like the Mystery Control were released, but by the late 30's the "commodification" of radios had begun, so by the war years the radio which had been the centerpiece point of pride in each household was being given away with a set of dishes at the movie palace on Wednesday nights...
Chris L
Austin, Texas