Slew,
VERY intriguing.
I'd be interested in knowing how the rubber mallet head is attached, and if it looks like the opening and sleeve were designed to fit the flattened oval shape of the shank or whether it just form-fitted itself. Hard to tell from the photos.
Some thinking-out-loud, far from conclusive comments...
- With the 12-point box end on one end of the shank and a non-marring mallet head on the other, it gives an interesting implication to the "DUAL TOOL" branding on the mallet head. If this was a homemade tool and that rubber ENCO mallet head was originally found and taken off of its own mallet handle, what is the dual use of the original mallet? There's nothing extraordinary about a mallet with the same material (rubber) on both faces. Rubber mallets have many uses (anything that needs striking without marring), not two uses, right?
- Wartime Plomb WF tools - those made for the USAAF under contracts let at Wright Field, the HQ for the USAAF - were not chrome-plated. Plomb continued making a limited number of tools in the immediate post-war period, marked "WF", for unknown customers, and even some Proto tools have been found with a "WF" marking, all modeled on or even made with the same dies as the wartime "WF" tools, and some of these were chrome-plated. I would date the production of the shank, at the very least, to that same period - late 1940's or early 1950's.
- There is a precedence for Plomb modifying its tools for special clients during that same period. Ratchets with cranks, for example. And also a precedence for them not being overly concerned with re-using old dies regardless of the original meaning of the marking (i.e., WF-83 being the model number for a long DBE wrench, 15* angle head pattern, with 3/4 x 7/8 12-point openings, made explicitly under contract to the USAAF during WWII).
Having said all that, it is clearly more of a reach than homemade. And I am not disgareeing with Rileysan or ssdave. ssadave's note about someone having an old WF chrome plated is something I would never think to do, but also makes sense.