I don’t know much about Ludwig but mechanically it is all sound with light surface rust on some of the chrome. This is not unexpected with a 50+ year old stand that has been used.
I’ve taken lots of pictures from lots of angles to show everything so please use these to confirm condition and description.
Any questions then please ask , but if I’ve got the model wrong you are welcome to correct me. I initially thought it was a Hercules via Google but saw the feet were different