Anyone know the company?
Logo is an oval with PECO inside.

Only stamping on the device is PECO in the oval and Pat Applied for

Is it a valve type thing? Perhaps Penn Engineering co, Philadelphia, they made air/steam float valves (1909 ish) other valves later, into the 50's at least..
(Definitly used 'PECO', not sure about in an oval tho...)

(Helps a little to know if it is a tool or a thing ;P )

The jury seems out on WTF it is. 
http://www.ebay.com/itm/vtg-tool-mystery-unknown-what-is-it-peco-co-w-wood-handles-/400277090403?pt=Folk_Art&hash=item5d325fb063#ht_370wt_55

Ahh, it's a , umm,,,err,,ehh,,,what the heck is that thing?

These guys??? http://www.peco-us.com/

A wheel dolly? Or for moving large chunks of billet in a machine shop?

I'm thinking more along the lines of Philadelphia Electric Co.

That looks like a few hundred manhole tampax pullers I've seen around electric utility warehouses (the cousin of bonded government warehouses).  In days gone by PoCo Engineers were known to "develop" "Tools" that were going to make workers lives easier.

Notice the heavy duty wood handles and the real heavy duty wheels.  Somebody got a bonus for inventing that baby.

My 2 cents worth- I looked at the picture and I would have guessed it was a barrel/drum(metal) carriage to empty drums. Drum laid flat would have been opened with top or side bung removed then rotated on the small wheels which would be above the foot pegs. Arm on handle? Measurement would be approx 1/2 the height of a drum. My guess or maybe I have been repurposing things too long  LOL  joe