This was a Bike Boom label in the US. Not quite sure why they didn't just sell them under the Stella name. Many of the Arctics I saw In The Day were lower end models like Peugeot UO-8. They seem to have been less selective about dealer qualifications than some of the bigger brands. Where I lived, they were sold as a sideline by a lawnmower shop.
This frame, however, is definitely higher end, more like equivalent to PX-10. I've never seen that triangular Columbus sticker befor. Fork blades and stays look more like Reynolds or Vitus to be than Columbus, but who knows. I think this may be late or at least mid-70's as I seem to recall a less stylized haerbadge, perhaps with polar bears, in the early 70's. I seem to remember the early 70's lower end Arctics were typically a root beer brown.
Big Spring, Texas, USA
> From: Paul Walker <email@example.com>
\r?\n> Subject: [CR] Stella Arctic
\r?\n> To: firstname.lastname@example.org
\r?\n> Date: Wednesday, December 16, 2009, 3:49 PM
\r?\n> I found this with all sorts of
\r?\n> mismatched parts on it and took it down to
\r?\n> the frame (leaving the bottom bracket cups just to be nice)
\r?\n> to sell. I'm
\r?\n> curious if anyone knows anything about this bike. I've
\r?\n> never seen the gold
\r?\n> Columbus sticker. Any guesses as to the date? Nice lugs and
\r?\n> dropouts... not
\r?\n> too light.
\r?\n> Paul Walker
\r?\n> Firehouse Bicycles
\r?\n> Philadelphia, PA