By this time, Holden & Frost has expanded into repairing and manufacturing horse-drawn carriages, then motorcycle sidecars and in 1914 its first custom-made car body. Restrictions on the importation of car bodies were introduced during the First World War and Holden & Frost began manufacturing car bodies on a large-scale in 1917, eventually phasing out its leather goods business.

It has been suggested that this item is a Pattern 1903 ammunition pouch, which was issued primarily to members of the Australian Light Horse Regiment during the First World War. The pouch was used to carry .303 rounds for the SMLE rifle with this size pouch holding 10-15 rounds. These pouches were worn on a leather belt along with three others (two on either side).