The hammer/axe combo is for cedar shingles, so you can split a shingle to the correct size and nail it in place without changing tools.

There is something very compelling about old tools that show the wear and patina of a lifetime of serious use (not abuse). If you are into that sort of thing and haven't seen this film, take a look. It also demonstrates just how freaking cool water power is, in this case powering a wood shop.
https://m.youtube.com/watch?v=l2KJbRHO76s