Reply by Dakkar

Here’s what I found:

A Bearing Scraper is a hand-held tool with multiple sharp edge blades for leveling out high spots on soft metal engine bearings. Most often a Bearing Scraper is easily identified by a three edge design.

Here’s something from an eBay forum:

… has a bearing scraper made by the Buffum Tool Company of Louisiana, Missouri. Their use of the swastika on their tools predates the Nazis by several decades. They operated during the first part of the the 20th century and were converted to war industries about 1940.