The meter reads EV's - a set of equivalent combinations of shutter speed and aperture all equate to one EV for a given film speed.
Old Rolliflexes/Rolicords used this as an exposure setting means, I think - you lock the shutter and aperture setting rings together at a given EV, then as you move the shutter faster the aperute proceeds to also open wider, and vice versa.
Fred Parker's 'ultimate exposure computer ' - look on the web- explains light and EV's well, if in a bit of a long winded maner.
The meter you have is likely powered by a selenium cell, which can 'poop out' over the decades. Check that the results are reasonable before you start to rely on it.