It's got a great patina from being around since the 50's and it's a nice size too - 6.5 x 9.5.
When I got it home I realized it WAS intended for what I wanted to do with it! It's called a Book Shelf Scrap Book and Album from Educational Press. Originally released in the 1931, this is a 2nd edition from 1950.
It's got instructions on how to collect "Scrap" and glue it into the book.
It also has perforated pages that can be removed as you add scrap to the book so the book remains somewhat flat. I can't wait to get started filling it with "stuff" that I love. My original thought was a glue book or junk journal which is basically like an art journal only without so many words. More a collection of images and ephemera. Now to start gathering up my goodies and put them into some sort of an order so I can begin.