I had one of this kind of treadle machine. I had bought it at a sale in our town when my husband was still alive and we paid $170.00 for and had to buy a new belt for it and then after he passed away, I didn't want it anymore so I advertised it on Craigs List and sold it for $200.00. It was just like yours and it was in a cabinet just like the one yours is in.
It had belonged to the mother of man that they were having the sale for. I didn't know how old it was nor that it was called a red eye.
fatcat