Vintage Falcon Miniature Camera Bakelite c 1939-1947 GRAF Lens

Falcon Miniature Camera Falcon Camera Co. Chicago
This camera is in good condition all working parts, the clips and the shutter lever do have rust as seen in picture and around the lens area there is a dusty white substance (not really sure what it is could be due to age), please see pictures.
The body is made of Bakelite, and styled like the 35mm Argus A. The Falcon body style with horizontal ribbing, is a clear design inspiration for the Lomographic Sprocket Rocket.
Film: roll 127 film, picture size: half frame, 3x4cm
Lens: Graf 50mm, serial no. none
Aperture: fixed aperture f/
Focusing: fixed focus
Shutter: simple spring rotary shutter, one speed 1/25 +B; setting: Time and Instant, lever on the lens-shutter barrel
Cocking lever and shutter release: by the same lever, on the lens-shutter barrel
Viewfinder: simple optical finder
Winding knob: on the top plate
Back cover: removable, w/ two red windows; opens by the latches on the sides of the camera
There is a spare film compartment in the camera