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That thing is called a "Gandy Dancer Handcar".
A gandy dancer is a member of a railroad work crew responsible for keeping the tracks straight. The term is reputed to be derived from the Gandy Tool Company which made the tools (handcars) used by the workers and partially from the rhythmic motions the workers made as they rocked their tools to and fro to straighten the track.
<font size="2" face="Verdana, Helvetica, sans-serif">Guyver... I probably would have went my whole life without knowing what those damn things were if you hadn't posted that!