These were manufactured by the Bedford Safety Razor Company, in Bedford Massachusetts.

It has two different adjustment "mechanisms":
The first is the head - It has a thumb screw that you loosen, tilt the head and retighten. It folds to nearly flat like a Kamisori razor and pretty much any angle in between.
The second is the forward/backward angle of the head - The handle itself is made in two pieces with one sliding over the other. The top section has a slot that allows the outer handle to slide down. this loosens the stem that the head is attached to and that can be brought 45° forward, straight up and 45° back. The mechanism can be seen in the middle image in the second row below.

The blade is held in place by a simple spring and the razor itself is silver plated. The razor breaks down into three pieces.

The patent was granted to H. Christiansen on Feb. 13,1912 and the patent number is US1017138.

How does it shave?
Keeping in mind that I used a modified Gem blade with it - I found it very mild. (The modified Gem can be seen in the image.)