See:

http://cgi.ebay.com/1967-Masudaya-Gemini-R...1QQcmdZViewItem

And this enlarged photo:

http://www.whentoyswerefun.com/HPIM8846.JPG

You can see in the lower left hand corner of the ad that this page came from an August 1967 issue of Playthings Magazine. In this particular ad, the toy is called "Gemini Rocket".

This space toy turns up in a number of books and catalogs, but the one book that also pictures its box is Collector's Guide to Battery Toys by Don Hultzman, page 198.
Note that the box identifies this toy as "U.S.A.-NASA Gemini". The toy itself is marked "USAF-Gemini X-5".

There are a few different versions of this toy.
The "floating" astronaut is replaced with a rotating antenna and the astronaut rejoins his partner in the cockpit.
When the Apollo program replaced Gemini, the toy was re-named "U.S.A.-NASA APOLLO", again with a "floating" astronaut and a one man cockpit.

I also found it interesting that at the bottom of the ad it says:
"Masudaya Toy Co., Ltd.
Exporter of Masutoku Toy Factory Items".

Another piece of the puzzle falling into place...

Good stuff Joe.
My copy of Collector's Guide to Battery Toys only goes to page 98.
Have you heard of this "Masutoku toy factory" before?

From Alan Bunkum's new book, Techno Fastasies - Toy Robots From Japan, Schiffer Publishing, 2005, page 39:

"Unlike Tomy, Masudaya Corporation was not initally a manufacturer but an export company and did not in fact own the companies that produced the robots associated with its name, although it did invest capital in a number of the small factories that it used for production."

I guess one of those companies was the Masutoku toy factory. I can't find a reference for it anywhere. Perhaps Steve might know?

My copy of Hultzman's book is the Second Edition with all full-color photographs, 208 pages.

Thanks Joe!

I just happen to have that "Western Locomotive" shown on the page, MIB, although mine also has the smoking feature that you don't find very often. I was curious when it was made, so this helps to narrow it down between 1965 and 1969.