Found a little information on Butterfield and Co.
"Butterfield & Co., Derby Line, Vermont, U.S.A., Rock Island, Province Quebec, Canada:
Manufacturers of Taps, Stocks and Dies, Reece's and Derby Screw Plates, Reamers. Taps and Dies for All Uses, Young's Axle Cutter, Tools for Engineer's and Steamfitters' Use"
These could be used for chasing, but the design is for a tap and die for cutting threads. The photo is of a Butterfield tap and die set made for bicycles.
Similar designs of dies and die stocks have been around since around 1800.