According to this http://auto.howstuffworks.com/1932-1939-packard-twelve3.htm Packard started using hydraulic brakes in 1937. The Packard used Bendix rather than Lockheed brakes and that might be what makes the design look newer than it is.
Just don't put it under anything you're driving: guys'll think you broke something and wound the housing up! Gad, that thing's ugly. (looks like the 3rd member got drooped in a fire...)