Leroy W. Fairchild Company produced many varieties of quality Victorian mechanical pencils from the middle of the 19th century into the early part of the 20th century. I'm going to call this example of Fairchild's art a gravity feed, button activated clutch pencil. The clutch (prongs at the pencil tip), grab and release the lead for use or storage. 3 1/4 inches in length. Great style, I think.