Studbaker's were converted to 4x4 by NAPCO. Whether this is an original conversion, or one done later, I couldn't say, although the wheels clearly aren't original. Nice Studebaker, however.
NAPCO conversions, which manufacturers other than Chrysler to compete in this market with Dodge, have been covered earlier in this blog. The Studebaker NAPCO conversion actually increased the cost of the truck by 1/3d.
There's just something about these old four wheel drives.