The wood available back then was "old growth" timber which was much denser and tougher unlike the junk that is sold as "lumber" nowadays. Old growth wood is very scarce, and pricey if you can even get it.
There is at least one company that specializes in recovering long ago old growth sunken logs from rivers and lakes, but I think that is mostly for furniture grade hardwoods. Very expensive stuff.
So far as I know, there were no real wood preservative treatments available that long ago, except maybe the creosote used on railroad ties and telegraph poles. The only protection is whatever paint or varnish, linseed oil, etc. may have been applied.
That machine will deteriorate if left to the weather. Hope someone cares enough to keep that old gem safe and dry.
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