V6 jimmy is exactly right, that gadget was used for cobbling a bad or loose idler arm back together. I had a 1952 Chev 4 door back in 1965 that I drove back and forth to work, and my idler arm jumped off when I crossed some railroad tracks. The car went bowlegged, and we ended up jumping the curb & almost hitting a cop car parked in a gas station.
I bought one of those things at Western Auto, put it on, and drove it until the doors fell off.
