Can You Identify This Circa 1940's Object?

I enjoyed one of the Patch's "Can you identify this Landmark" challenge so it inspired me to send out a challenge of my own.  In my business we buy estate items and sometimes we come across some interesting items from years gone by.  So take a look at the attached photo and let me know "Can you identify this item?"  Now, in the name of full disclosure the picture does not show one of it's ends... that would make it too easy!

From your friend in the jewelry business... Mark Grader, Grader Jewelers  www.gradergems.com