It's also only marked rabone which dates before 63 when they merged with chesterman to form rabone chesterman where i got my first job at bow works pomona Street sheffield
I'd suggest getting a live centre and trying some spindle turning to get a feel for the tools before trying anything more adventurous, scraps of 2x2 make good practice pieces
Definitely a bit for a brace all brace bits have that tang for the jaws regardless of style it's marked buck who were based in tottenham court road london for about 150 years @toolsntat might shed some light
I got it in a joblot of tools I bought when I got my lathe a couple of years ago,i was more interested in the measuring tools dividers calipers etc just come across it again