Hi all. I'm relatively new to tool collecting, and I decided to swallow my pride and admit that I can't identify everything with a well-crafted google search. Attached are some photos of a tool I just can't figure out. The swivel part looks like a small pipe vise, and the spring loaded arm holds a little toothed blade that does a nice job of cutting a shallow notch in a pencil (which is what I had handy), but what would be the purpose of such a contraption to cut a notch in the end of a pipe or dowel? Perhaps to score the outside of an elbow, but, again, why? The opening in the swivel arm is 7/8" and the length of the entire tool is about 10".
You guys will probably know this in a heartbeat, but I'm stumped.