In 1915, Albert McDougal applied for a US patent that covered this putter in part. According to his patent, issued in 1919, McDougal's club was designed to help the golfer line up to the hole by including a "true line parallel to the face of the club head intersecting a line parallel to the hole." These lines are formed from hard rubber strips that are inlaid into the top of the head.

By 1926, McDougal had brought out his New Improved McDougal Putter with an adjustable weight feature, which this club is. The two cavities on the top of the head hold lead weights that fit around a post located in the center of each cavity. To keep the weights from moving, a spring is placed between the weights and the black, hard rubber pieces inlaid into the top of the head.  Each black piece is attached by a screw that connects to a post in the center of each cavity.

Given two cavities with weights in each cavity, the golfer could adjust the overall weight of the club as well as the heel-toe balance. Lots of options here. 

The 34" shaft and leather-wrap grip are original. Overall, this is a wonderful, ingenious club, with heel and toe weighting well ahead of its time.

TCA2 V2 p484