The slide drives a "steep pitch" spiral groove on a shaft. A shallower pitch set of grooves on the shaft move the adjustable jaw.
Hemphill was the "money man" in the Hemphill / Evans partnership and moved to Boston from Salt Lake City. The wrenches are strongly made. The adjusting mechanism was also used in a pipe wrench patented March 27, 1923 (pat. no. 1,449,386).