Wow - I have the exact same JC Higgins reel. I got it in the early 1960s along with a white Shakespeare Wonder Rod and a white level line that I think was a Wonderline. The line was total junk and I ended up using for bowfishing for carp. The rod was an uncastable broomstick that eventually developed stress cracks running parallel to the shaft and fell apart. The reel is still in use and just keeps on clicking.
David