Maybe the stock might have some colored varnish over it? Both photos have waht looks like brush strokes running long aways. The are some marks also in the finish -they look white. Also look at the light colored chips in the finish on the black base of the pad. I have some older varnish in my shop and a lot of it has a color pigment in it and it covers up most anything. But it looks white when it is dinged. Not what I would do tyo cover nice wood but strange things happen over the years. As someone said the inletting at the head looks tight and the period pad looks rght too. May be this is a diamond in the rough when the finish is stripped off by a good stock guy.
Joe
