4-H, you checked this as solved way to early! I can NOT be a trunk latch. For one this it is the size of a penny. For another thing (more important) it closes (hinges) upon itself, not on an exterior fitting which a latch would use. There is a release lever to allow it to come unhinged, or possibly to adjust the distance between the two parts where they meet.
As bigcypresshunter says, it doesn't seem to match patents listed on Oct. 12, of that year. The two it might match however, are "thill fitting" (whatever that is?) or more likely, shoe stretcher. The protrusion on this thing would be the size of a corn or callous. Shoe stretchers today are often wood with various sizes of small inserts which can be removed and switched to accomodate various size corns or callouses. It may very well be that this was such an insert, but one which was adjustible by using the lever which is visible on the side. There also seems to be evidence of three prongs being broken off, one at the top and two on each side of the hinge, which might have conformed to the larger peice it was attached to. .
Thanks
