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Well, after a bit of online research I was able to dig up some additional info regarding my "smoker"...
It was made by Union Switch & Signal Company. I found pic's of them used in two different ways. One use is as a remote independently mounted relay box to control more than one train crossing signal such as would have been used at a 4-way intersection of a busy city street. The more common usage is as a mounting base to a type of signal referred to as a Semaphore.
Here is a link to a neat site I found where a collector purchases a complete semaphore including a base identical to mine and restores it to be displayed on his property - http://natsulators.com/misc/signals/semaphore.php
I'd like to find a place close by that I can haul it to and get it sand blasted down to bare metal inside and out, so I can repaint it nice and clean. It's going to need new grill rack's which is no biggie... maybe a couple minor mods here and there... the most difficult part is going to be moving it to the spot in my back yard where I would like to set it permanently, still putting thought into that task!