Found an old torque wrench with some history! When I found it, The reverse switch was locked up. I took it apart and realized that it is not rust. In that time period, Sears used a yellowish grease and over time, the grease itself solidified. I sprayed some WD40 (my only choice at the time) and after a while, it was moving again. WD40 is pretty good even tho it is not a true lubricant.
I am pretty surprised that the TW uses a collar to lock/unlock the mechanism to set torque. This is much better than using a knob at the bottom b/c I often forget to tighten the knob. But the most interesting part is that it says Simpson-Sears Limited. I googled it, it seems that it was made by the former Sears Canada. But that should be called Simpsons-Sears Limited. So it seems that this TW has a spelling error on it? BTW, when pulling down the collar, there is a mark '1/79'. I guess it is made Jan. 1979? The name was changed to Sears Canada in 1984.