Automatic screw-making machine, invented by Charles Vander Woerd, a superintendent at the American Watch Company in Waltham, Massachusetts, in 1871. This was reportedly the first automatic lathe to make watch screws. Each machine output 1200-1500 screws per day.
This nickel-plated version was likely a demonstration piece.
55-second video of it in action:
More: Automatic Screw Making Machine | National Museum of American History