That is a tool for opening water meter boxes, it’s still in use today, watch your meter reader, they will bust out some similar custom tool, like this with custom grip, or it could have belonged to some old man who checked his meter to make sure the water company wasn’t over charging him or some such shit, and it also could be for opening manhole covers, a very similar tool is used with a matching key hole on manholes. I love the over complicated answers from all the arm chair engineers on this thread… hahahahahaha