"A determined soul will do more with a rusty monkey wrench than a loafer will accomplish with all the tools in a machine shop." - Robert Hughes
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It certainly looks like a spring compressor of some kind, but if automotive could you do so with a wingnut?
Side Valve - eh I used to own a BSA M21 motorbike with one of those, when it used to kick back when you started it almost broke your leg !!
Still in production (BSA M21) no wonder the british motorcycle industry failed.