A friend bought this measuring tool on an auction because the Auctioneer said he would tell whoever bought it what it was for. LOL and he didn't know. So I was asked if I knew what it was. I am stumped. Has a nice dial indicator that is attached to the center fork with a small chain going over a pulley.

Has anyone ever seen one similar or by chance knows what it is for. bic lighter for size comparison. Its purpose seems to be to measure a gap in something.

Tension gauge.
It is used to check the tension on steel strapping on large loads.
A lot of commercial and maritime shippers use them to make certain the banding that that is holding a load together is not strapped beyond it's tensil strength, or that that the clips are not beyond their holding range.
I have also seem something similar used in the lumber industry to check the tension on re-saw (band saw) blades.

Thank you riarkin