Welcome, the Old Town canoe with serial number 121950 is a 16 foot long, CS (Common Sense or middle) grade, Otca model with open spruce gunwales, oak decks, oak thwarts, oak seats, and a keel. It was built between June and July, 1937. The original exterior paint color was maroon. It shipped to New York City on July 28th, 1937. A scan of this build record can be found below.
This scan and several hundred thousand more were created with substantial grants from the Wooden Canoe Heritage Association (WCHA) and others. A description of the project to preserve these records is available at http://www.wcha.org/catalogs/old-town/records/ if you want more details. I hope that you will contribute, join or renew your membership to the WCHA so that services like this can continue. See http://www.wcha.org/about-wcha to learn more about the WCHA and http://www.wcha.org/store/membership to join.
It is also possible that you could have another number or manufacturer if this description doesn't match the canoe. Feel free to reply here if you have any other questions. Good luck,