Steve & James, Here is the link to Ives 0 gauge locos. Scroll down the page, until you find the 1501 listing, and click on the 1501 loco. It will show all three windups, 1501, 1503, & 1506, on the same page. The 1501 & 1503 have a different boiler than the 1506, and are smaller, than the 1506. Both the 01 & 03 bodies are shorter, and narrower, with the cab floor extending beyond the cab side walls. The 1506 is larger, and the cab floor is even with the end of the cab. None these windups had a bell. Your supposed 1501, having a bell, would be a motor from Lionel's 1508 motor, that came with a bell. I realize the 1508 and it's companion 1511 are Commodore Vanderbilt locos, but one had a bell (1508), and the 1511 had a whistle. these motors only appeared in these two locos.
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