Is that a '61 KM? That avocado color glass looks familiar. BTW, first year for the KM.
To answer your stress line question, yes. I've done a few by taping off the area around the cracks to prevent runs, then apply the glue, let dry, then sand, and then finish.
Once or twice, I've had those unsightly lines disappear, but don't count on it. But you will have a bow safe to shoot for many more years.