Parrot Head / Parrot Head Tool Co, Oklahoma City, OK / patent 1344629 Jun 29 1920 L.D. Fowler /
https://www.garagejournal.com/forum/showthread.php?t=265853 /
from the patent document:
"there is provided an arcuate recess 10 that constitutes a lateral overhang with respect to the handle 5 and the edge of which is sharpened to co-act with a jaw 12 that is formed upon the handle 6. Since this recess constitutes a lateral overhang with respect to handle 5 it follows that the strain incident to cutting off a nail, bolt or like object will be in a direction length Wise of the handle, and thus the cutting element will be backed up by the entire thickness of the enlarged head 7."
IOW (for those of us lacking law degrees that are not being paid per word): it's a cutter for nails, bolts, or "like objects".