So they are still in use somewhere, good to know. If you took a video of those guys and uploaded it to Youtube, yours would be the only video on the topic, from what I can tell.
Good history of the Batcheller family here: http://www.yesteryearstools.com/Yesteryears%20Tools/American%20Fork%20%26%20Hoe%20Co..html According to this there were 17 companies that merged to create AF&H in 1902. Later they acquired Kelly Axe & Tool. Changed their name to True Temper, then were...
First result that shows up for `True Value catalog' (on google) is one from 1938 on Archive .org. It can be seen very clearly.
So it looks like a piece is in fact broken off.
Well that's less exotic but you may be right. Looking more closely at the top of the 'u' where I thought it was made that way, it's somewhat rough and may have been snipped with giant bolt cutters or the like. Have any photos of anything similar?
I'm starting to think this was used aboard ships, to deal with various ropes and lines. My parents house was built by a shipbuilder in the 1880's. Batcheller & Sons was founded in 1816 and continued through 1902.
Interesting. It appears intact, as designed. On the simple U-end you can tell it was pinched off while the steel was still hot. On the other "maze" end, it doesn't have that rough, jagged surface you expect when a metal bar breaks.
Thanks for advancing the ball here. Very likely a dual-use, if not multi-use tool; maybe for holding up and pulling down, as you say. That's more plausible then the only thing I could come up with (which was bending rebar - doubt it).
Found this in my dad's garage. Can't figure out what it was used for. The handle is about 6 ft long; overall length is 77 in. The imprint says Batcheller & Sons, there's lots of info on that company, just not this tool.