This is a specialty tool used to cut the relief inset for the frame side of a door hinge.  It's likely that it originally had a wooden handle. It was used at the Pullman Car Shops by Honus (John) Rickert (b. 1876, d. after 1927). George Pullman built the town of Pullman (1880-1886) and his Pullman Palace Car Works to build his world-famous train cars.