I'm not sure one line of that would compile in FORTRAN 66, even if you indented it properly. Been so long I'm not sure...
I recently learned Fortran IV to build a backpropagated neural network for the IBM 1130 (1965) and was amazed to see it compile with no warning on both the punched card compiler from IBM and on a modern Fortran compiler (gfortran).
Some Fortran II conventions, like the arithmetic IF, are now deprecated, but --std=legacy is all it takes to make it work.