Got the Chancellor here. Nice rod, and it's not one of the steel cored rods. H-I made some of there rods with a thin steel core and many complained that they were too stiff, no action.
This is not one of those:
As can be seen the varnish is waaaaay too heavy. Looks like someone with good wrapping skills did a "resto" on the rod, but got over-zealous with the varnish. It's so thick the shine makes it look like some is missing in the photo's. It's not. The wraps are supposed to be and antique gold, so I'll have to fix that.
Interestingly enough, these rods were "impregnated" with a resin. If you are familiar with Orvis it's the same technique. The idea being no varnish required. It's one of the reasons Orvis bamboo rods still look good and fish well 50 years (and more) later.
Many think the reason H-I did varnish impregnated rods was not wanting to "rock the boat" with customers who expected that from them.
I believe that this rod, in the early 50's, retailed for $40, allot for those days, but it was one of the top models quality-wise. It'll be a good substitute for my Granger, which has more vale.