I got one just like that, 2 weeks ago at a garagesale. Ordered and installed a new belt, cleaned it up with a little Kerosene and machine oil. The rough cabinet required some Old English scratch cover. It's been a long time since I learned to sew on treadles, haven't figured out yet how to throw the belt off easily to store the machine in its cabinet.
After I exchanged the bobbin for one of those I use in my Bernette, it fixed the tension problems it had. Put a newer 1/4 inch foot on it - it sews like a dream.