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One such reference book.
What book did you read? The Wisconsin Historical Society has records that exist. I have never heard of an "E" tractor proposal or prototype, Guy Fey has a good research base and has published books that are reliable. There are others as well. Jim
 
Unlikely that anyone here knows any more about it than what is written in the book. Anyone know Robert N. Pripps, the author of "The Complete Book of Farmall Tractors" where this is mentioned on Page 84? Hopefully the book has a bibliography and cites the source of this information.

In a way, IH did eventually make this model tractor as the 330, then the 340 and finally, the 504. As I recall, the 330 and 340 came about because of the HP gap that was developing between the C-based tractors like the 200 and 230, and the H-based tractors like the 300 and 350. IH bored out the C-123 engine to a C-135, and mated it to the 5-speed rear end of a 350 Utility to make the 330. They added the row crop version with the 340 model when the rest of the 40/60 series was introduced.
 
It’s in my Farmall century by Lee Klancher octane press, don’t remember the details. But really interesting details about evolution of the letter series.
 
The E prototype is discussed in chapter 6 of "Farmall: Eight Decades of Innovation" by Leffingwell. It became the C.
 
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