I just got home with this little beast of a layout. Boy were those sections heavy to get down from the attic!!!
This is the #150 Factory layout from 1953 and most of the accessories are present although missing a few detials and pieces here and there. The 755 is in the worst shape as it was in the bottom of it's box and it must have gotten wet. Lots of rust on it's base. The 751 was right next to it but seemed to fare a little better.
The Owner remembers getting the layout for Christmas in 1953. He told me how he accidentially surprised his father and brother while they were assembling it late one night, maybe Christmas eve. It's interesting as well because the steam freight set is from 1952 and is one of the first knuckle coupler sets with it's K325 Hudson. I'll try to keep posting updates to this thread especially for the layout but also for the trains.
I promised to send some photos of the layout to the seller once I got everything cleaned up and they are gonna see if by chance there are any family photos of the layout way back when.