This is an interesting find from the 1940's.  It was produced by Projected Books, Inc., 313 N. First Street, Ann Arbor, Michigan.  It was designed for individuals who were bed-ridden to read books while laying flat on their backs in a bed.  According to a newspaper article I found, "A projector designed to throw the image on the ceiling instead of the wall is threaded with a book reel---that is a book, pictured page by page on narrow film similar to movie film.  The control button on a panel about one by five inches in size, is place in position and the patient can read a page, and then advance the film to the next page by merely pressing the button....The projector is the invention of Eugene B. Power, president of University Microfilms, Inc., a firm devoted to publishing and copying books on film....Projected Books, Inc., is a non-profit corporation, manufacturing projectors and books on film and selling them at cost.  At cost, however, a projector and sufficient number of books on film costs about $300."  The Lions club eventually purchased projectors available through libraries across the country.  At the time the article was written nearly 800 titles had been filmed.