Here's my thoughts on looking at it. The lettering looks like it is spaced unevenly, leading me to believe it was not mass produced. The "L" on the one side has a "dot" before it so I don't think the number "59" comes into play. The "ILLE KY" although probable, doesn't neccessarily mean Louisville, there are many towns in KY with the same last 4 letters. Some examples would be Shepherdsville, Millville, Mortonsville, Hollonsville, Bellville, Steubenville, Parmleysville, Touristville, Cissellville, Mackville, Mooresville, Pottsville, Jenkinsville, Sharpsville, Thompsonville, Polkville, Pondsville, Richardsville or a number of others. That was just the 7 counties that start with the letter W for all those towns. There are more than a hundred towns in KY that end in ILLE. The J.W. W on the one side is obviously the start of someone's name such as J.W.Wilcox or Wallace or something else starting with W. Having said all of this I still don't have a clue as to what it actually is. My first thought upon seeing it was also an advertising shoehorn but now I don't know.