Anyone seen one of these?

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It looks like it's some sort of long hole boring centre. If you remove the point from the business end, you could pass a lamp auger through it and I assume the hole in the side is to allow shavings to escape when drilling. All it lacks is a proper bearing but perhaps this one relies on the centre brass/bronze part acting as a bearing?
 
I polished it and it looks more likely to be brass. I can't see the hole being at all efficient at letting shavings to escape - for one thing it'll be revolving, but there doesn't appear to be any purpose. I actually bought it for long hole boring as the one I've got is 5/16", so too small for my auger which is 8mm. Neat little thing, though, I'm well pleased.
 
Isn't this for making lamp stand holes for the wires and other such deep bores?
 

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