Thank you, four.cycle, that's the right company for sure.
"Patent 87133 Feb 23 1869 Benjamin F. Bee" matches, as does this line from the DATAMP entry:
"A tap wrench with markings including this patent date and "M.T.D. & M. Co." has the distinctive jaws, with the clamping force supplied by a separate screw rather than the screw incorporated in the handle."
The DATAMP entry includes the illustration on page 48 of the Frasse & Co. Catalogue 1875, indicating "No. O, fitting taps from 7/64 to 1/4 inch..." and "No. A, " " " 1/4 " 5/8 " ..."
Still unsure of the "28" marking. A picture at DATAMP shows a similar wrench, but stamped "322" on both blocks and the handle.
Still going through the box it was in so maybe something related will appear.
Oh, and I just noticed that both blocks move on V shaped ridges along the long sides (on the inside of the frame) and there are slot head set screws on both sides, presumably to fix in place the block that the locking bolt does not bear on. I'll take some pictures when there is better light.