Andrew Milne's uncle found the bundle – containing stories from 1894 – in the cellar of a house in Kendal and passed it on to his nephew.
Cable engineer Andrew, 23, of Nevett Street, Callon, Preston, examined the book with daughter Leah, five, to read the top news of the day from the Preston Guardian, which went on to become the Farmers' Guardian.
He said: "It looks like it's been put together but I don't know why or why it would have been in Kendal.
"My uncle found it when he first moved up to Kendal 22 years ago. He found it in an old cellar he was knocking down and ended up keeping it.
"It's got different stories from different months in 1894. It's very interesting. It's got suicides and murders and people getting trapped in machines in the mill.
"There's some stuff about Preston North End and an advert from when Lea and Perrins Worcestershire Sauce first came out. To someone who collects stuff like that, it would be a really good thing to have."
Andrew is now hoping an expert will be able to help him find out who put the book together and possibly get it valued.
Charlotte Steels, assisting keeper at the Museum of Lancashire, Stanley Street, Preston, said: "If Mr Milne wanted to bring it down to the museum, I'm sure our social history curator would have a look at it."
Do you have an interest in the scrap book or know the history behind it? Email melanie.wallwork@lep.co.uk or phone 01772 838107
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