I would encourage you to just keep and use for display/show, these are so sad when they get blown up and become scrap.
This one has done its due, shame it was not taken care of so it could live forever.
This saddle was a "barn find" (probably been inside a barn for the last forty of so years) on a Raleigh that was given to me which I still have. The Raleigh will be my "resto-mod" and the saddle is actually on display.