Great little reels. I bought my first one in Chicago - 1960. I've got two of them - they are bulletproof, just not childproof. Take care of it and it will serve you well for another 50 years.
Interesting history on the company. Pezon et Michel is French, obviously, which were the first manufacturers of fishing tackle in the mid-1800's. They made the reels under the Luxor brand, which were the predecessors to Mitchell reels.
I have several of their split-cane bamboo fly rods, including one that I still use for trout in Montana.