it's one of the early Auger bits.. the design moved on to have no handle..
this was also a tryal step but it didn't catch on too well..
it then moved to the Auger and Hand Brace
and then to the Fast cutter and Electric Drill.. all the time to reduce space in the toolbox and increase Speed for the job.. they are good tools though.. will hold an edge for a while as back then the tools were made to last.. not like now where tools are made to be replaced.. I've never seen one in such good condition before though..
This is a Whiskey Beer BARREL AUGER DRILL...
I've had a look through my old college notes for "Wharpees & sons" but can't find any info on them sorry.. and Google wasn't much help either..
to sharpen it all you need is a file, just be careful not to file the thread.. that's the important bit as it pulls the cutting edge into the timber..
Once sharp (can't tell if it is or not from the picture) you will be able to tap trees with it.. but do you really need to drill a hole in a tree for the sap?? when I have done it in the past all I done was cut the Bark with my knife and pushed a stick in to alow the sap to run into my pot.. less damage to the tree and alot faster IMHO...