Looks like a walking stick to me....that has split from over use. I have...or had....may have tossed it....one just like it. Too much pavement pounding caused it to split.

Years ago, my college library had something like this for newspapers. Each newspaper section was slid over one section of the rod, then the rod was hung horizontally on a rack kind of like the racks that hold fabric bolts. Boy, that description is clear as mud! The rod kept the entire edition together and allowed readers to hold and read it easily. As I recall, there was something similar but smaller for magazines.

Is your rod the right length to hold a newspaper?

You might want to check out these images.

Here is a link that might be useful: Newspaper roller/bar/?

It is an old newspaper holder for sure. You can tell by the photograph that the wood on the rod has been machined into sections, they're all identical and exactly the same length. We used similar rods in one of the libraries where I used to volunteer.

Wow the knowledge of the people here is amazing!!

You guys are incredible! Thanks for identifying this so quickly. It is definitely a newspaper holder based on your feedback. I so do appreciate it. thanks