Congratulations. It's a PEETZ Recorder, which is an invention that was the first of its kind and very popular prior to the invention of downriggers. That little circle is a depth indicator. Right now you are sitting at 600 feet. This one was built during the start of the Bill Hooson era around 1979 when Bill opted to change the logo look. This is a PEETZ 6 inch recorder model #2500.
Bill Hooson is the very first New owner who purchased the company directly off the PEETZ family in 1977. Bill had worked for the family for many numerous years starting in the 1950s making lures, lead products, other tackles and reels.