I hadn't tried to swivel the reproducer head until you pointed that out. Yes, the reproducer swivels nicely to play vertically cut records too. I don't normally have much interest in off branders, but the ID plate says it was made right here in Columbus.
It is serial #1506. Has anyone else seen or owned a Mastertone before? I haven't done much searching for company info yet as it was a busy weekend. Is it possible that The Phelps Factories purchased a bunch of these "do it yourself" phonographs and put their ID plates on them to try to jump into the phonograph market? The ad does mention how one could "Make fine profit...". Maybe it was cheaper for a company to buy the "do it yourself" kits rather then to invest in the equipment, materials, man hours etc. needed to manufacture a phonograph from the ground up.