looks to be a modified unit, that used to be used by vehicles in the 40's, 50's and early 60's, to tow a trailer.
before people could afford a second vehicle for hauling and towing.
i know my uncle talks about having to have lumber and sheeting frieghted in by train. as no-one he knew had a pickup when his dad was building a addition on the house.
if i was to purchase something like that, i would definatly have better tires on the unit. a good set of 19. 5's would be the ticket.