Hi,
I don't know much about much...but I do know a thing or two about this chest. I own one!
To confirm a few things:
1. The chest does indeed date early 60's. Most likely 1960-62.
I bought mine on CL after falling for it and proceeded to look through every scanned Craftsman catalog I could find to identify exact year. Couldn't find it except for with the older oval logo. Then one day I happened to be on Ebay and saw a catalog I hadn't read for sale. It had a few sample pages scanned...and sure enough there was our chest crown logo and all.
I purchased the catalog and now use it to slowly build a set of handtools of like vintage. Basically, every time I need a new handtool I go to Sears, cry, consult the catalog, look up part number on ebay, wait two weeks, and then do whatever I was supposed to with the tool. An awesome way to build a nice vintage tool collection...a poor way to get work done quickly. No regrets so far though.
Also worth noting, Craftsman sometimes printed catalogs for say the year "1963" and sometimes they would forgo a date on the catalog because it was meant to span multiple years (I assume). There are NO dates listed in my catalog but the available tools put it right around 1960-62.
2. Bill is correct, this chest locks all the drawers until the bottom "garage" door is unlocked, swiveled out, and pushed all the way back into the chest.
It's a pretty genius design really.
I'm guessing the dismantling of the chest for sandblast/repaint disengaged the mechanism somehow? If it were me, I would take my drawers back out and have another look with this little bit of info in mind.
3. I'm sure you know...but I have to mention the handles are not original. I'm guessing you had them put on after repaint since the originals were taken off? Still have them? What made you ditch them if so? Feel free to sell them to me if they are collecting dust.
Curious to hear how it works out. Will you be repainting your crown badge? If so, document that process...I'm curious to see someone do it.
Arron