Nice mechanical pencil c.1950s from the Schwerd Mfg Co of Pittsburgh PA.
Manufacturer of colonial porch columns for many of the finest mansions in the US.
Out of business since a fire in 2003 (see news clips).
Pencil featured the "floating column" and hidden eraser.
The column no longer floats assuming the liquid has dried over the years.
Eraser is partially used.  Some pieces of the original lead remain stored below eraser.
EX condition.  5-1/4" length.