Just got this from my older brother. Been in our family for many, many years.
I can't find any pictures of this to know exactly what it is and how to wire it. The bottom is marked Lionel #153 but again, the pictures that come up are not exactly like this and I'd like to wire it into my layout.
Any information/help would be most welcome! Thank you much, Terry
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Someone painted the semafore indicator
It is a 151 semaphore with the somewhat "rare" red arm perhaps made 1947-48.
It will operate on any NO circuit (on/off). The middle post is common, one outer post is for the solenoid, the other post is for the lamp (14V #53).
As you note, the base, pole and several other parts are common to both the 153 and 151. Some 151 production retained 153 on the base. It was later modified by Lionel.
must be rare. Never seen a red one. Pretty cool.
You might want to rephrase your question, as that is not a switch stand.
Jon 
Thanks everyone and a special thanks to the Uberstationmeister for the missing details. Much appreciated! Terry
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