This is a nice, vintage LIONEL FLAGMAN, #1045. The piece, including the sign post is about 7 1/2 inches tall. The Flagman is over 4 inches tall. T is minor paint chipping on the red tin base. The connectors look like they are in good shape, but I have no idea if he works.

T is a nice metal insert on the base that clearly identifies this piece.

A Fun Find for a Lionel collector!