This appears to be a tappet wrench, 1/2" on one end, 5/16" on the other. made by Billings and Spencer probably in the 1930s. No information turns up when I do a Google search. According to Alloy Artifacts, the Triangle B logo was registered in 1905, The Life-Time brand name 1928.
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Alloy Artifacts says the M-2XXX series were what they called "obstruction wrenches" (scroll down to "obstruction wrenches"):
http://alloy-artifacts.org/billings-spencer-company-p3.html#m-series-open
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