This is an early-20th century pencil sharpener from Automatic Pencil Sharpener Co. of Chicago. This design was patented in 1906. The design is made of steel, tin and cast iron and mounted on a wooden base. It has a removable bottom drawer to trap shavings.This was the best-selling pencil sharpener until 1914 when it was slowly surpassed by a side loading model.
(via Country Living)