square steel wood threading die

I am assuming this die is intended to thread wood dowels, due to the coarseness of the thread it would cut. I am also assuming it is old, because of its square shape. I came across it only recently, I have not yet attempted to use (test?) it myself and I have no idea of the history of who else might have used it to do what, where.

It is stamped "1/4 R" at one corner and "C" on another, with "NYE TOOL & MACH W" [another letter or two] between them, "CH" is faintly stamped below that and might have had a [ICAGO] to finish it out. 1/4 must be referring to the thread size, it looks like it would cut a 1/2" dowel. It is 2-3/8" square and 3/4" thick.