Old...antique...and beautiful!  Authentic pocket knife with great patina.  My guess is that this is from the very early 1900's.  Its make is a mystery as I cant fully read its tang stamp.  My guess would be Challenge Cutlery Co., Baldwin, or maybe PAL.
 
Still has its badge.  Bolsters are in good shape.  No chips or cracks in either scale.  Both blades open and close.  No snap left.  The blades have been grinded down.   SEE PICTURES.
 
4 1/4" long when closed.  Larger knife.
 
THIS COULD BE WORTH MUCH MORE THAN I AM ASKING DEPENDING ON THE MAKER.
 
Location D2-30