Bud Codemaster model CPO-128
Bud produced several code practice oscillators, with and without speakers, and in both horizontal and vertical models. This one, the BUD CPO-128 with red lettering, was advertised in QST magazine in August 1953 at a cost of $14.45 . It is a vertical model, has the speaker, and can be switched to transmitter monitor mode using an RF pick-up coil. The tubes used are a 35W4 rectifier and a 50C5 as audio oscillator/ output. The set is AC-DC. Some of these have reddish-maroon pointer knobs.
I do not have the schematic for the Bud, but the schematic below of the Smith code oscillator / monitor kit number 2425 is a nearly identical circuit. The only difference is that the Bud Codemaster CPO-128 key connection switches the B+ voltage on the center tap of the output transformer primary. B+ is present on the key jack exterior and the phone plug barrel of the key connection, and therefore also on the key. Note that this is rather hazardous if you are anywhere near a grounded object (such as any appliance with a 3-wire cord). The Smith schematic inserts the key jack in the speaker side of the output transformer, eliminating the B+ hazard. If you use the Bud for code practice, rewiring the key jack per the Smith schematic makes it less hazardous.
N4MW specializes in collecting code practice oscillators. He shows several Bud models.
REPAIR NOTES This very simple circuit had an open power switch due to oxidized contacts. An application of Deoxit in the switch restored its function. I also used deoxit on the tone and volume control potentiometers to eliminate scratchy noise from the controls.
The project previously on the bench undergoing repairs was the Knight-Kit R55A receiver.