What is this tool?

[Ran58]

This is a pic of a tool that belonged to my granddaddy. I haven’t a clue what it is. Anybody seen one or know what it is used for.
Thanks

 

[Mintgrun]

It is a tenon/dowel cutter that cuts a cylindrical end on a piece of wood, with a variety of sizes to choose from. The square tang fits the chuck on a brace.

 

[Beerhippie]

It is a tenon/dowel cutter that cuts a cylindrical end on a piece of wood, with a variety of sizes to choose from. The square tang fits the chuck on a brace.

Never seen a fancy-*** one like that before--just the single-size cutters.

 

[WisJim]

Looks like it still has the often missing depth stop too. Collecting or studying all the patents and variations in hollow augers (tenon cutters) is another rabbit hole that I try to avoid, but sometimes it's hard to pass them up if they are cheap or weird enough.
The one that the OP posted might be a Stearns.

 

[RTM]

The one that the OP posted might be a Stearns

Looks like a #4, not a #44 (next page)

E. C. Stearns & Co. Catalogue of Hardware : 1924 : E. C. Stearns & Co. : Free Download, Borrow, and Streaming : Internet Archive

92 p., illus., 22.6 cm, trade catalog

archive.org