I think it is a magazine rack, meant to hang on the wall.

Or maybe it is for Christmas cards, with that date.

Researching these archeological treasures unearthed on garage sale digs is always rewarding.

 I thought it might have been a DIY project in a publication of that time and what came to mind was Popular Mechanics.    I did not find this project but – oh – what a wealth ……  November issue is also interesting.  And October ……  

Perhaps the pattern was in some other magazine of that time but I don't recall the names of any others.