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PS&W Co. No. 1201, 12 inch swing brace.

Pexto brace with Altwein patent jaws
Closeup of wrist handle

This fine, heavy duty brace bears the patent date, July 9, 1895, for its ball bearing chuck.
It also has the old style, flip-over pawls 
that so obviously control the ratchet functions.
Lignum vitae ball bearing head and rosewood wrist. 

Made by Peck, Stowe and Wilcox and marked Pexto/Guaranteed on the bow.

July 9, 1895 patent date
H.V. Smith patent for the ball bearing chuck, US Pat No. 542,448.

The chuck has a different set of jaws from that in the Smith patent. The jaws and their distinctive spring were patented by Oscar Altwein in 1911 and assigned to the Peck, Stow & Wilcox company, so this brace was made before the Smith patent was to run out in July, 1912, and yet less than one year before the Altwein patent application was filed in May, 1910.

Chuck and jaws
US Patent 982,559 particulars
Ratchet details - Ellrich patent
The ratchet's flip-top pawls follow the R.C. Ellrich design of the expired US Pat.No. 293,957, issued February 19, 1894.  There is a single spring located in the center of the ratchet housing as seen at left.