What is this tool? Patent Feb 4, 1904

Spartcom5

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Found this at an antique store for $6, didn't buy it but I am curious. What the heck is it? Has a patent date of Feb 4, 1904. Has a screw that lets you use them like tweezers almost and then screws all the way down... I have tried looking it up but to no avail, thoughts?
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Just a guess. It is a tweezer, but it will hold a specimen without constantly squeezing. Can be set down and picked up.
 

drafting tool
 

It is called a "compass".
 

It for drawing lines of various thickness. Just turn that wheel for the desired width and get drawing.
 

yup definitely drafting pen
 

To add more detail - it is dipped into ink. The wheel allows you to vary the width of the line, the gap acts as an ink reservoir.
 

Woody has it right. The sets came with pencil lead holders and ones like posted which were for ink.
 

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