This is a very very cool find. After its initial wash, see what Zud on a Scotchbrite pad will do to remove surface rust while leaving the patina intact. Good luck!
Imagine the excitement the first owners felt getting to buy that new Hudson. After having to hang on to their 30s car all through the war when civilian auto production gave way to war material. The big 3 with so many huge plants had a harder time ramping back up to auto production than the independent makes. Was the man you mentioned the original owner?