Miller falls tool co. What is this tool?

[rcshaggy169]

So my brother inherited some tools and we are lost on this one.
Only markings on it state it's a Miller Falls tool co. Piece.
Any help is appreciated!

h

 

[The Cobbler]

mount an electric drill into it to make a drill press

 

[rcshaggy169]

That's kinda what I was thinking when I was looking through some images online, based on that strap.

 

[Mr_P]

Looks very similar to this black n decker.....