I have a somewhat different view. Seeing that Russell's Society was obstensibly dedicated to Bible study, it is more reasonable, I think, to see those illustations as a visual representation of part of Ephesians 6:13-17
13 On this account take up the complete suit of armor from God, that YOU may be able to resist in the wicked day and, after YOU have done all things thoroughly, to stand firm.
14 Stand firm, therefore, with YOUR loins girded about with truth, and having on the breastplate of righteousness, 15 and with YOUR feet shod with the equipment of the good news of peace. 16 Above all things, take up the large shield of faith, with which YOU will be able to quench all the wicked one’s burning missiles. 17 Also, accept the helmet of salvation, and the sword of the spirit, that is, God’s word,...
In addition to these implements we see a shepherd's crook and a battle axe. The crook is symbolic of the fine shepherd, Jesus Christ, and the battle axe is symbolic of Charles' wife, Maria.
ok, I was kidding about Maria.
The old, old legend about Russell's Masonic entanglement has been thoroughly debunked in the past. The argument is as silly as claiming that Russell was influenced by STAR TREK.