(click on pictures to enlarge)
This is truly one of the oddest pencils out there. These are marked only on the top band "Riedell Corp. N.Y. U.S.A. Pat. Pendg." I haven't had any luck finding the patent for this one.
The example on the left is in the same royal blue-and-bronze celluloid found on some Conklin Enduras and has gold filled trim. The other is in orange plastic with nickel plated trim.
The use of the blue and bronze leads me to believe these date to the mid-1920s. The top cap screws off to reveal the spare lead chamber.
Here's the blue and bronze example with the nose cone removed. This pencil looks like it was designed by Dr. Seuss -- three paddles fit into slots in the lead tube, and when the nose is installed, the inner wall of the nose holds these paddles securely against the lead.
Neither of the examples I have is working and, after taking them apart, I can't figure out how they ever did.