That could be so. I wonder if you'd agree that the next thing to inspect would be the ring density? With a higher density the indication would be less problematic than with a lower ring count.
If I had it in hand I would just confirm the run out situation and if it was bad that would be all she wrote. But you guys know me when it comes to handles, unless they are a spectacular vintage example, I'm gonna junk it in favor of something good. That, and a straight handle is almost never gonna make the cut for me, especially on a Connie. That picture to me looks like a lacquered hardware store rehang, done pretty poorly and shows almost no redeeming qualities. An in person examination would help but I'd be looking forward to watching it burn in the wood stove personally. I also wouldn't concern myself terribly with who made the head. Wire wheel it, hope to discover a mark, understanding that you probably won't, check the hardness of the bit with a file, proceed to a fun project and good working axe.
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