I see that as the second title, since it was acquired from a previous owner(s) as a casual sale. In the area for the dealer number, it says casual, and the sellers are 2 individuals. It is still remarkable that it passed through many hands, without being titled.
I remember 50 years ago, some states didn't require titles to register the car, while others did. It was a very loose patchwork of laws around the nation at the time, that could give you a lot of grief if you bought a car in one state, and then brought it to another state for registration. I purchased a 1963 Model year Chevrolet, and New Hampshire back then didn't use model years, they used the calendar year that the car was built. My car was built in November 1962, and they registered it as a 1962 car. The reasoning behind this was their method of taxing cars. The older the car, the less the tax. When I took the car to New Jersey to register it there, they wouldn't accept the registration, since it said the car was a 1963, but the NH registration said it was a 1962. NH didn't issue titles at the time, and the dealerships didn't give the owner the Certificate of Origin with the car. All you got were the license plates and registration. I finally got it resolved by visiting the DMV in Trenton, and after I explained the NH system, they made a call and confirmed what I had told them.