you are all wrong
its quite obviously a thwangle adjuster
<adopts slightly condescending pose, sucks on pipe>
Thwangles first appeared in the 1800's with the advent of the Grumpler - these were great machines of brass and steam that needed constant attention with an oily rag. No-one knew their purpose. The inventors name has been lost to history yet they were attended by a seemingly never-ending stream of boiler suited engineers. Among their tools was the thwangle adjuster. It adjusted the thwangles so well that the second generation spudoink-plop (not to be confused with the spudoink-ploop , which is the sound of a good firm poo landing in the toilet with the resulting cold splash of toilet water acting like a b'day leaving the poopee with both a wet crevice and deep shock} was rendered useless vurtualy overnight. Scores of out of work spudoink-plops could be found wandering the streets of Urmston begging for the attentions of an oilcan or even the whiff of paraffin to get by. The Great Spudoink-Plop Revolution of 1882 went down in history as one of the most tragically passive protests in history as literally tens of now rusting spudoink-plops assembled for a mass sit down on the local railway, only to be almost immediately obliterated by a 4-2-2 combination express locomotive to Warrington. What became of the road sweepings afterwards is also as unknown as the purpose of the Grumplers. As despite their huge appetite for attention, employing many local manly men, Grumplers, their attendant Thwangle adjusters and the steamtrain flattened mangled iron filing leftovers of the tragic spudoink-plops disappeared rapidly as the 20th century approached and everything went digital....
Soo, what you have there is a forgotten piece of history, a symbol of long forgotten industrial practices and archelogy only remembered by a diminishing number of volunteer historians. Incidentally, they can still be found on Thursdays at the Barking Dog {on Higher Road, Urmston) , still dressing up in the traditional uniforms of the chief Grumpler Master, boilersuit and personal choice of statement hat.