Jack,
It certainly appears to be an Old town. I can't read the serial number in the photo, but the decks look like OT and it seems to have diamond-head bolts. Old Town serial numbers started in the early 1900s with numbers above 1000. I looked up number 160688 just in case, but that was a 16-foot lapstrake model built for an outboard, which doesn't seem to be your boat.
I'd recommend looking more closely at the serial number. A couple digits may be hiding from you. Cleaning off the stem a bit might help and looking with a sideways light. The serial number would appear on both the front and back inside stem. Generally there's the number, then a space, and another number indicating the length of the canoe. The length number appears toward the end of the stem, and after the serial number. Since your canoe has open gunwales, it was probably built no earlier than the 1920s, and it looks younger than that. It's a handsome boat that appears to be in excellent condition.
Others with more knowledge may have more to contribute about the age and identity of this canoe. A lot of people are heading for Paul Smiths and the Assembly right now, so it may take a while...
Norm