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It's a Horrocks-Ibbotson, top of the line or near to it. Probably a 5 or 6 weight. A rod model I've never seen before- but when it comes to H-I and Montague, it seems as if there's always another one.

I'm wary of H-I models I don't know about, because in the case of that company, price and quality are often completely decoupled. The most popular tapers are the 2-piece rods, and they were some of the cheapest rods H-I made. On the other hand, the most expensive rods- the "Registered" models, which included Old Hi's Hi-Test, the Vernley, the Chancellor, and a few others- have pretty mixed reviews. Although some people say they're fond of a couple of the models, I don't recall which ones in that bunch they are. And some of the others are widely considered stone dogs. Worst of all, during some of the model years, H-I reinforced their most expensive rods with a thin rod of vanadium steel, with results on the weight and action that could have been predicted (although I suppose they were following the lead of Hardy, who did the same thing with some of their rod models for a while.) That means that one year's Chancellor might have a thin core of vanadium steel, and another year's production of the same model escaped that engineering fad. No way to tell just by looking.

As for the H-I "impregnation" process, the secret formula was fairly straightforward- creosote, aka "Woodlife." Hey, it's water resistant- and it probably does the job okay, although in cosmetic terms, the often streaky and uneven results are pretty much what you'd expect from brushing a bamboo rod with creosote (although I have a pretty nice example of a Cascade that actually looks pretty good- a rare 8' model that's my favorite 3-piece H-I, I've mentioned it on the Forum before.) Most all of the impregnated cane H-I rods were also varnished over, afterward. As a rule, most of them don't have that even, satin, nonsticky finish that impregnated Orvis rods or Phillipson rods have. Although I think I've seen a few examples of the Registered rods that are impregnated but not varnished,it was a while ago, and I can't be sure. By the end of H-Is bamboo era, most of their rods got the treatment, and were vanrished over top of it.