A few additional pictures of the mystery tool along with some new thoughts and observations. You can click on any picture for a larger view.
Full tool, with quarter for scale and a new angle on the "loop" to show thickness:
A close-up of the business end - note wear pattern inside opposite corners of the slot (which I think indicates it was used as some kind of wrench):
A close-up of the end of the threaded cap - showing what I previously took to be the initials "B.H." - although now I am not so sure:
My brother Josh thinks that this might have been some kind of sewing machine wrench for changing needles, which were stored in the compartment in the handle. I like that guess, but so far I have not found any supporting information.
What do you think?

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