This punch is of a unique design, created specifically to aid the collection and filing of papers and letters. It is also often known as a "neat-file" or "accountant" punch. The punch pierces oblong slits on the corners of documents for the installation of prong fasteners (brass fasteners) or a desk spindle. The punch includes a gauge that allows the user to perforate each document in the exact same position on the corner. 

This version pierces a slit hole, a rectangular cutout measuring 5/64" x 3/16" on the corners of documents. It has a weight of 0.42 pounds and is 4.75 inches long.