This is a hanging strop, made by Gem Leather Goods of Milwaukee, a company long gone. This would have been made around 1910 and is used to sharpen razors and tools.

It is Shell Cordovan (horsehide), with a 2" steel hanging bar. The loop on the hanging bar rotates. Two pieces, one black, one brown. The black side, as it says, is to Sharpen; the brown side is to Finish.

Total length is 23 1/2"; it's 2 1/2" wide.

For more, go to my Ebay Store at https://www.ebay.ca/str/starcanadianseller

Please note: I do not accept returns. All sales are final.