Oh damn, I just saw this picture sometime this week on the internet and I sure as hell can't remember why it came up as I was studying bills of lading along with the crossed letters... UM... I want to say it was related to the early photograph, 1902 regarding whalers... the photograph showed someone wearing something similar and they said it was to protect their clothing from the mess of cutting up the blubber... where did you find the illustration..?
rather reminds me of the sleeve protectors that clerks used to wear to protect their white shirt cuffs and sleeves from ink stains, etc...