AT1984 wins this week's "puzzler". It is indeed a Tethered Trainer. This was designed by Col. Earl Cayton and it appeared in the 1944 Air Trails Annual. The Annual was a yearly publication containing mostly articles that were not published in Air Trails magazine during the year. I often wonder if they simply had too many articles on hand and so had to put them into a year-end magazine to "clean up" their inventory? As I remember, there wasn't a whole lot of model activity in 1944, so it would be hard to imagine a flood of article submissions!
Floyd