Old fly rod

Was sorting out the old rod box and came across an old fly rod of my grandfathers. It seems to be made out of steel. It is painted white. Any thoughts on what they were used for.

Bingsbaits,
     Steel fly rods were very much in use during the period of the 1915-1930 era.  They were a cheap alternative to bamboo rods.  Some of them were very good rods in their own right.  The major drawbacks of the rods were the fact that they were quite unforgiving.  If you overloaded them they would bend or even snap.  Secondly some of them were very stiff and heavier than bamboo.  But the biggest problem with old steel rods is the fact that they were great Lightning Rods.  Many fishermen were struck by lightning when fishing those rods on an overcast day.  First they would build up a nice static charge by sweeping the metal rod through the air and then it's a 9 foot piece of steel and you're standing in or beside water.  This may be overblown but I don't want to find out.
      Value of your rod depends on if it is a three piece (or four) or if it is a telescoping rod.  If it is a take down rod the values I have seen are between 25-40 dollars.  If it's telescoping then it's about 15 bucks. Look for dents, re-painting and cracks, and make sure all the guides and ferrules are there.  Also look for any names or manufactures marks; that increases the value somewhat.  The rarest of the breed are the 6 or 7 piece "pack rods". They can be fun to fish with on a clear day.  After all they're about 100 years old.

Ya, It sure isn,t worth a hundred.