I think I messed up saying that was a huge disc brake. That is probably the torque converter tansmission the brochure speaks to, selectable from 3.5:1 to 1:5 overdrive. (what?) I only see one brake, a drum on the rear axle. Also, the only design flaw, endemic to the times, is that compression spring telescopic front end. That and a six inch two ply tire equal squirrely going fifty.
I'll let the more knowledgeable folks take over.