Interesting if you look at it form the point of view of both a design to get around other's patents or as the possible forerunner of the cam lever we are more familiar with . I have never seen the likes in actuality so it must rank along many other failed/unsuccessful or quickly superseded mechanisms which were being churned out in the 1870's .
Main problem or reason for its failed adoption into common usage would be it has to many parts so it more costly and complex .It looks more like the work of a lock maker to me.
