Robert Urquhart sought the perfect adjustable iron. He received four British patents in the 1890s as part of his quest. The example offered is presented in his 1895 patent and is exceedingly rare—far more difficult to find than the standard Urquhart adjustable iron from 1897.
The back of the blade is marked "Urquharts Patent" inside the outline of a ribbon and "1222", a production number. Just push in the small lever on the back of the hosel and you can pull out and rotate the spring-loaded blade to a different position, left or right handed.
The hosel is pinned both side to side and front to back. I do believe this is the original shaft, based on the hosel pins, despite the fact that the shaft is not a perfect fit to the hosel diameter. The original sheepskin grip is still in nice condition. 124 years old and looks/works great!
TCA2: v2, p440-441