I've been keeping an eye out for an inexpensive tenor guitar and have been checking the usual channels. This is a quote from stellaguitars.com:
"Until the 1970s, the Harmony Company used only solid woods for just about every acoustic flat top instrument they made. Their Stella instruments were made from solid slab-sawn birch, which to the untrained eye often has a grain pattern that looks rather like "plywood". Harmony Stella guitars usually have a poplar neck with a dyed maple or birch fingerboard. High-end Harmony flat tops feature solid mahogany and solid spruce components."
The one I'm looking at is being touted as a sixties vintage, but the close up pic through the sound hole looks like it's made from fiber board (the back anyway). This particular one says Stella & Harmony on the head.