Chip, you are correct. Like many sons of the fifties and sixties soaring pilots, I have a couple of classic "Memphis" rate of climb indicators. One is still working fine in my late father's Open Cirrus sailplane here at Marfa. A prized instrument in its time and sought after by vintage sailplane restorers. For the "newbies", see the SSA "American Soaring Handbook", Chapter 7, page 18. Yes, it's out of print but a valuable resource and in some ways better than the current FAA Glider Flying Handbook as the ASH chapter topics were written by soaring pilots, not by non-pilot FAA "technical writers."
On Sunday, August 30, 2015 at 12:36:06 PM UTC-5, wrote:
Burt,
More accurately it's a Memphis rate of climb. And I still have one! Once in a while I think about popping it into the panel but I don't have room. You're the first person to mention a Memphis in at least 20 years. 
Chip Bearden
ASW 24 "JB"
U.S.A.