The 708 was a very attractive 'Spanish Style' guitar (as the catalog so frequently put it). Nice little details like that stripe up the middle of the back show how much care went into even the 'medium-priced' guitar in the line. Harmony made (see pic), the 708 was a good bargain for some 'low-priced fun and entertainment (copy from the '48 catalog).' Spruce top, curly maple back and sides, bound front and back.
Fall/Winter 1947 is my earliest catalog listing at $24.95
as the 57K0708
Retired: Spring/Summer 1950 at $24.50 as 57D0708