The machine is threaded correctly in the picture if the thread is hooked on the little spring in the tension disk. Are you having trouble with your stitches? Did you hear the bobbin click into place? You'll need to clean and oil the machine before sewing with it. It's not hard. That's a good looking machine. Got to love those steel machines. They were made to last.
You might get some answers here:
http://www.quiltingboard.com/t-43881-1.htm
Machines were made by a limited number of companies, then badged for private companies. Yours may be one of those. I have four vintage machines, though one doesn't know she qualifies. I'm not going to tell her.