Help with a W&B

[mycarver]

I was sorting through a couple dozen W&Bs looking for my next project. I picked up this one and thought " Man, this is light" I swung it open and naturally it was rusty. Well , a bit more than I felt like doing tonight. But as I glanced at the stamp I read not Wade & Butcher but Wade and Butcher's and the second line I could make out something like , blan---con---.

What does this say under this rust? I cleaned it off a bit not wanting to go further and found what you see here.
The blade is thinner than tin foil , hence a crack in it.
But my question is.
What is this thing?