[COLOR="DarkRed"]Well...the through-lugs were the standard back then on a lotta drums. the unfortunate aspect of them is that they tune both batter and reso heads to equal tension only....
Not bad for a bass drum, actually....but horrible for any other kinda drum.
If the drum is in good shape...the finish, the hardware, the shell...and it hasn't been remodeled...it's probably worth around $200-250 or so.
If the lugs are causing you stress (i.e. you just wanna have a bit more flexibility in head tuning)....
In such instances I replace the thru-lugs with Ego single-point lugs. A much better choice than replacing with standard double-ended lugs, etc. You don't have to mess with the original holes.... the general aesthetic of the drum is not compromised...and you can now tune the heads independent of one another.
Unfortunately, you would need to replace the hoop claws with the threaded ends with hoop claws which are unthreaded.
Here's an old, old 12x18" Leedy Scotch marching bass drum which I did that on....converted to a floor bass drum; switched out the thru'lugs for Egos.[/COLOR]