Yup. Pistols were often stored on these and carried by the master at arms to whoever in the ship needed them (boarding parties, etc.). I'm not a Navy guy so I'm sure others here will provide more details.
I sold one on Ebay a few months ago for $125.00 which is usually the going price. I was told they were used by the Ship's Armory to collect the officer's pistols (monthly?), take them to the armory for cleaning and then return them to the officers. Regards.