The magnetic tape you have is for the IBM Magnetic Tape Selectric Typewriter. This
machine was the first "Word Processing" device ever marketed. It was
introduced 40 years ago in May of 1964!
Neither the term "word processor" or "text editor" existed at that
time. After being on the market for about two years IBM sales representatives familiar
with "data processing" began to call the concept "word processing",
thus the term evolved.
The product was priced at $10,500 (in 1964 dollars!) It included a full size Steelcase
desk with a recessed typewriter and a tape console 1' w x 2.5' d x 3' h that
weighed about 100 lbs.
Text was entered on the typewriter keyboard, recorded on the tape and edited by playing
text back from the tape a character, word, line, etc. at a time. Print speed was an
awsome 15 characters per second.