My Dear Bill
While I am not Books, I will throw my opinion into the ring!
I believe the device is a meerschaum and “something” ( ie correct plastic for the era ) cigar holder.
As a former dedicated pipe smoker and tobacco accouterments affectianato I recognize the holder, and it is placed amongst the other cigar paraphernalia, to wit, a cigar case, and a cigar cutter.
A very nice assortment and an excellent tableau! I was actually wondering why Books would carry spare buttons, and I finally realized they were attached to the shirt!
I need either new glasses or a new brain...
Yhs
Prof ( former amateur tobacconist ) Marvel