[ms fowler]

Preset torque wrench for automatic transmission band adjustment. My guess is for model year 1965 and later.
The 1964 Falcon FSM (C4 transmission section) lists a special tool "T59P-77370-B or 7345" was used to tighten the adjusting screw on the low-reverse band "until it clicks. The tool is a preset torque wrench which clicks and overruns when the torque on the adjusting screw reaches 10 ft-lbs. Back off the adjusting screw exactly 3 full turns...."
photo looks the same.