Grandad's gone, but not his tools. 1 What is this?

After reading the comments here and cogitating a while, I think I know what it is.

Decades ago, as a boy, I visited Grandad's shop and recall seeing a small (tiny) lathe. When I cleared out the shop, that lathe wasn't there, but this item was, along with a tiny 4 jaw chuck mounted on a male MT2. There was also an MT1 dead center.

I suspect this shaft was a spare, a replacement, or a scavenged piece from the headstock of that old small lathe after it was broken or sold. Perhaps there's a tiny lathe somewhere with a 3 jaw and an MT1 tailstock that go with the 4 jaw, dead center and this piece in my possession.

I previously assumed the 4 jaw was used in the MT2 tailstock of the Atlas 10D or in the MT3 headstock for smaller work with the MT2-MT3 adapter I found.
 
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