Very nice score! That reel has a lot of character!
That handle grasp looks to be wood. Look for grain, I think you'll find it. I have a similar vintage Long Beach 66 with a wood handle that Rudy gave me a few years ago. They do exist.
When I return to the "Great White North" for Christmas I'll take a look and let you know, it may well be wood, it struck me as more pointy and football-ish in shape than the few other the pre wars I have.