The Elkhart Sax Worth keeping?

Help! In cleaning out Grandpa's old stuff we found a Cornet and a Saxophone. The Cornet was in good shape but the Sax is a little rough. It has a silver satin finish. I am a trombone player ad know NOTHING about this instrument other than what is written on it.... The Elkhart Band-Inst-Co Elkhart, IN Serial Number on the back is 54018 and has an LS under the number. Any direction anyone can give me would be appreciated. While a music lover, this horn is in rough shape (pads, I know are bad and it smells a bit). I would hate to junk if this horn is worth repairing or could be donated for repair. Thanks in advance. Dana in Michigan

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