It was a independent trade publication, geared towards people in the industry. Roughly half of each volume was advertising, usually marine related. U of M's collection available online through Hathi Trust, but you have to be affiliated with a member university to be able to see any that are still under copyright (roughly 1922 onward). So only about 2 editions can be accessed by the general public. But it gives you an idea of what each volume contains. Google Books seems to have a few different years available for download, but again only pre 1922.
Red Book Collection at Hathi Trust