OD&D’s Magic Bonus for Miscellaneous Weapons

MISCELLANEOUS WEAPONS: Those with bonuses of +1, +2 or +3 gain a bonus of equal merit on damage scored, except as noted below” (Monsters & Treasure, 31).

Like most of us, I have read the above line maybe a hundred times. Every time, I have interpreted “of equal merit” to mean equal to the hit bonus. Reading it today, though, I see no obvious reason to believe that to be the case. “Of equal merit” might refer rather to the aforementioned “bonuses of +1, +2 or +3.” The text “noted below” does not further elucidate the issue. Meaning that the magic bonus of miscellaneous weapons (except magic bows and arrows) is applied only to damage, not to the attack roll.

Am I missing something? I’m sure I’m missing something. What are your interpretations or other clarifying text in OD&D?