Pat,
That is a lovely old rod you got there, it should give you years more use.
It appears to me that there is no delamination - i.e. the glue is still holding all the sections together.
I'd go with JC's first impression that the rod is impregnated, I see that the wraps are varnished but suspect that the rod sections are not.
Is the reel seat aluminium or is it nickel silver?

As she comes from Scotland I would not be at all surprised that it may be a Sharpes from Aberdeen.
At 8ft 5inch she should be sweet for a 5/6.

I'd have that straight to the shop and get the pro's to check her over and do a full rebuild, using all the original fittings if they are still good. You HAVE to keep that reelseat

I wish you many years of enjoyment and lots of success with her.
Thanks for sharing
Roy