Drill and countersink combined

A time saving device for the production line, patented in 1884 by Albert Smart and assigned to Wiley and Russell.

Patent

Wiley and Russell Mfg. Co was established in 1872 to manufacture thread cutting tools, i.e., taps and dies. The line expanded to drilling machines and tools for various types of manufacturing until in 1912 the comany was acquired by Greenfield Tap & Die Corp. The Wiley and Russell brand was discontinued at that time. 
More history at vintagemachinery.org