@ Randy (Harv). This video illustrates the 1800’s Rail Lifting Clamp I had originally thought of when I saw yours.
Now, I have a theory that your ‘Track Rail Lifting and Positioning Tool’ may have come into play later in railroading history than the 1800’s. … The chain might have been used for crane lifting and the one-sided wooden handle could have been used by a single worker to guide the rail into position. … Still, a cool item. 
—mike