I would say that this was Hardy's attempt to form a specialist centrepin reel which never quite made it. Dating from the late 1930's, this 3" 1/4 had limited line capacity and really suite "Threadline" fishing.
This example is presented in near mint condition and is believed to be unfished. Complete with Hardy's trade box.
Stamped to the faceplate with the maker's name, address and model details.
With ribbed brass foot and nickel line guard.
A simple 3 piece reel and with a limited production run, these have become scarce and virtually impossible to find in this condition.