The rod you have posted is most likely a high-end Montague fly rod, probably from the 1940's or 1950's.
The reel seat, ferrule markings and swell in the butt of the cane at the grip are all consistent with high-end Montys from this period. The reel seat is the style used on the Red Wing, Manitou and about a dozen other high-end Monty models. I have one in front of me now with a cedar insert that is nearly identical to the one in your photos. It is most likely not a Red Wing or Manitou, since these did not typically have the wood spacer, and the cane on them was typically flamed to be darker.
It appears that the rod was re-wrapped and re-varnished. The wrap colors would be nearly identical at both ferrules, if the wraps were factory or professionally done.
The hand scripting of "Leonard" and the length and weight are not consistent with scripting on Montague rods, or any other manufacturer that I've seen. The script is much too sloppy to have been done by a professional. It looks like it was scribbled on with a felt tipped marker. It is even smudged in a few places.
Others have given you some solid advice about an extra tip, and your relative experience with bamboo.
If all 3 sections are of equal length, it could be worth $100, but it's still a gamble. If not, it is probably not worth $100, and you can get a lot more rod for your money than this one. The attempted deception alone would turn me away from this rod.
If the re-finisher left any signature wraps on the cane, just above the cork grip, I may be able to identify which Montague model it is/was. Feel free to PM me for additional help.