Everyone I knew in the early 70s had one of these lighting fixtures in their dining room or over their kitchen table. The light could be pulled down and had a funky piece of metal in the middle. The one we had eventually rusted a bit and the pull down and up function did not work as well. They also were very easy to dent since they were made from aluminum.
These lamps are sometimes available on eBay and originally sold for $34 to $40. This picture is from a 1961 lighting catalog.