A Tool Mystery, fifty years later! (Upd. Model T Radiator thimble!)

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One of our readers has made it his daily job to browse old car magazines looking for interesting stuff. An occupation we like very much, but in the 1962 Christmas issue of a magazine about antique motorcars he found this puzzle. The clue was that it's a kind of tool that was frequently used in the early days of motoring and that the solution would be given in the next issue. However, the next issue revealed nothing and neither did the others following that one. So, fifty years on, we are stuck with a mystery! Unfortunately we have only this image as no dimensions were given. Please enlighten us by telling what kind of tool this could be?

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