Join Date: Sep 2012
Location: Wilkes-Barre, PA
Hybrid plane from CCC era
That's called a transitional plane. Honestly I wouldn't waste your time restoring it because they don't perform very well. They are too light to really be very functional, and the adjustment mechanism is not nearly as good as what you would find on a Bailey-style cast iron plane.
The grain was intentionally run parallel to the planing surface to provide dimensional stability. The sole is quarter sawn beech, or at least it was on the earlier models that Stanley made. The transitional planes are very common, and ought to be a dime a dozen. Antique stores who know nothing about tools frequently try to sell them for upwards of 75 bucks, when in reality I wouldn't give you 10 for one that's in good working condition.