How do I read the content of an Excel spreadsheet using Ruby?

I am trying to read an Excel spreadsheet file with Ruby, but it is not reading the content of the file.

This is my script

book = Spreadsheet.open 'myexcel.xls';
sheet1 = book.worksheet 0
sheet1.each do |row|
  puts row.inspect ;
  puts row.format 2; 
  puts row[1]; 
  exit;
end

It is giving me the following:

[DEPRECATED] By requiring 'parseexcel', 'parseexcel/parseexcel' and/or
             'parseexcel/parser' you are loading a Compatibility layer which
             provides a drop-in replacement for the ParseExcel library. This
             code makes the reading of Spreadsheet documents less efficient and
             will be removed in Spreadsheet version 1.0.0

#<Spreadsheet::Excel::Row:0xffffffdbc3e0d2 @worksheet=#<Spreadsheet::Excel::Worksheet:0xb79b8fe0> @outline_level=0 @idx=0 @hidden=false @height= @default_format= @formats= []>
#<Spreadsheet::Format:0xb79bc8ac>
nil

I need to get the actual content of file. What am I doing wrong?