It is a Western Electric 1011B hand test set!
Here is some information about the one pictured above from the Western Electric Card Catalogue No. 310.
AUGUST 31, 1966 NO. 1011A & B HAND SETS
Intended for installer's and repairman's use.
Each consists of a soft rubber handle containing apparatus as listed below, and a talking and monitoring switch connected so as to shunt out the capacitor when in the talking position.
Arranged to accommodate a KS-16360 snap for carrying the hand set on a lineman belt. The snap must be ordered separately.
No. 1011A: For use in manuals areas.
Contains:
F1 transmitter unit
P44E818 receiver unit
W2BT cord (connected externally)
No. 361C capacitor
Apparatus blank
No. 1011B: For use in dial areas.
Contains:
F1 transmitter unit
P44E818 receiver unit
W2BT cord (connected externally)
No. 361C capacitor
No. 103A dial
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The 103A dial was also called the "pin dial", because you could use an "orange stick" or small screw driver or similar tool to dial a number.
I believe the 1011A & B test sets were introduced in the late 1940s (unless someone has more accurate data).
There were other hand set models: 1011C thru G, but those were all equipped with a 6A dial and a 52D dial adapter to fit the rubber handle and various cord terminations.
In the early 1970s WESTERN ELECTRIC replaced all the 1011 series with the 1013A and the 1014A hand test sets.
The first Touch-Tone™ test set manufactured by Western Electric was introduced Post-Divestiture 1985. The models were 1015A & B and in addition to Touch-Tone™, could also dial pulse and had other features. Feature wise it was almost a copy of the original Harris/Dracon TS21 hand set.
A little Telephony history from the 20th century.
....JIM....