(click on pictures to enlarge)

p Pencraft was more widely known as a wholesaler of pens and pencils by other manufacturers, but here is an example stamped with the Pencraft logo.  The top half of a pencil has a fixed rod mounted in it; the lead is "advanced" by screwing the lower barrel farther and farther up.

Here's the Pencraft disassembled, next to a "Simplex" manufactured by Eagle Pencil Company.  The only difference between the two is on the Pencraft, the threading is on the inside of the lower barrel, while on the Simplex, the threading is on the outside.

Eagle's Simplex was patented much earlier than the Pencraft.

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