I found this along side a logging railroad and have an idea what it might be. I would like other opinions before I state what I trhink it might be. It looks like it was crudely cut with a chisel when it was red hot. Dimensions are 3/8" thick x 8"long.
Agreed, some type of safety latch or part of safety latch mechanism. 3/8 may suggest something along the lines of furnace/stove door latch. S.W.A.G. of the day.
(EDIT: My first thought was it was part of an old chain-binder but couldn't find a pic to support that)
I wasn't thinking about a latch. It could be. I don't know what it is called, but I thought it might be the thing that keeps gears from going backwards. This would catch on the teeth.
Interesting item. Given the heftiness of it I don't think it could be a pawl for a ratchet wheel, as the pivot hole would need to be larger, to accommodate a beefier bolt. As always, I may be wrong.