This month's item is an ironworker's spud wrench. The one shown here is a 1-1/4" Armstrong, model 908.
They're used in several aspects of the trade, but for the purpose of our explanation, think high-steel ironworkers. When you're working hundreds or thousands of feet above the ground, you want to carry as few tools as possible. For that reason, this tool serves a dual purpose.
The pointed end serves as a drift punch. It's used to align the holes of
two beams. Once the pieces are aligned, a bolt is dropped in. The user
then flips the tool around to tighten the nut. The offset provides clearance, allowing the worker to turn the wrench without scraping his knuckles. These tools often hung off workers' tool belts for easy access.