The all-steel version of the Ideal Clipless paper fastener.
This seems to be a less-common item. The wooden-cased product is described by American Stationer and there is e.g. a specimen in an Australian collection. There is however very little information about this later version, reported to be introduced in 1922.
This all-steel version is actually not so much steel, even though it does give this impression. There still is a wooden block inside as the base of the machine. The nickelled base and cover are actually made of brass, only the bottom-plate is made of blackened mild steel.
Despite its more industrial, mass-production appearance, the manufacturing-methods used in this device suggest hand-work in relatively small numbers.
After a cleaning and oiling, this Japanese version of the ingenious Bump-method fastener works fine. New, green felt of a similar shade again covers the base, fitted in the same way with a draw-string - elegant, that.