You could be right there Melv. It could be a form of picking stick, which fires the shuttle from one side to the other, although the size of it seems to go against that, as it looks a bit small for carpet weaving. I worked on weaving looms but can't remember seeing anything like this which moved the shuttle. However, I do think it could be something to do with the textile industry as there were many different mechanisms for moving threads in the machinery.