I was told this was an early Ford engine tool (of sorts), but unsure of its specific use. Can anyone identify this tool?
Yes, it's a valve grinding tool for early cars that had slotted valve heads just for this. It has multiple/adjustable points to fit many applications. Look it over for writing...if you can get a name or patent number, you can find it on Google patents. An open-ended search would be really difficult, because there were amazing numbers of trick valve gadgets in the early years.