Black oxide was fairly common as a tool finish into the 1960s. Chrome had been diverted to bearing surfaces during World War II, and was slow coming back to the general market, especially tools. Chrome in that era required a 3 step process, Copper, Nickle then chrome, and had a nasty habit of flaking off leaving very sharp edges that cut hands. Black oxide only took boiling in a tank, and didn't require the polishing plating required.
Less cost per unit manufactured.
BTW, when did you last encounter a fastener that was 25/32"? That size stopped being popular by 1960.