My guess would be that it's from the Buffalo Rochester & Pittsburgh Railroad. I forget what their use was, but similar items have been identified here, so I'm sure this will ID'ed soon.
I agree with Ben that it's from the Buffalo Rochester & Pittsburgh Railroad.
That would give it a date range of 1885-1932, so "1917" on the reverse may well be the year of issue.
My first thought was that it looks like a tool check or work check, rather than a baggage tag. However, given the fact that it's dated, it may be an annual rail pass— although the only pass I can find listed from that railroad is printed paper (1885).
That tag is awesome! I'm pretty sure it is worth a pretty penny. You should send a picture to W&E and let them tell you about it. I bet it would make the next months issue.
A Dietz "Ideal" inspectors' lantern marked "B.R.& P. RY." (Buffalo, Rochester & Pittsburgh Railway) on a brass tag soldered to the frame. It has a matching etched globe. Below is a view of the back