I have just moved, and haven’t unpacked my books yet. I know that this design is in a couple of them, as it’s a higher end tap bell of an early design. Typically this one is used in businesses / stores to ring for attention just like the center strike tap bells we see today. I suspect (again I would want to delve into my books to confirm first) that this is a Scottish Design, so the initials are likely a manufacturer from there. (the clovers and what looks like a thistle top are very much part of the Scottish history.)
Hopefully someone with access to their reference books can clarify though.