What is this tripod for?

Well Saginaw did produce machine guns and tripods during WWII. But still can't find anything else like this in any pictures.
 
Or a one of a kind prototype worth a fortune!

Extremely doubtful. If it was a military prototype, they would have used, at a minimum, a gearbox off an existing piece of military equipment if that was what was required. They did not dig out some obsolete steering box and assemble it onto a homemade tripod. Nor would they have dug out a commonwealth hinge and latch which are o longer produced and used that. Or left those eye catching points on top of the forward holes. Or have done such a poor paintjob (looks almost like a rattlecan job with no prep). The whole tripod, outside of the gearbox, is all easily fabricated in a home workshop. There are no pressed or machined parts. And without documentation, the rarest prototype is next to worthless. I am certain this is not a military prototype or military produced at anything beyond an unofficial level. The military has some pretty strict rules about what you use when operating weapons systems, if that is what this is for. Last thing you want is a tripod tipping over during firing, or the steering box having several degrees of backlash.
 
Extremely doubtful. If it was a military prototype, they would have used, at a minimum, a gearbox off an existing piece of military equipment if that was what was required. They did not dig out some obsolete steering box and assemble it onto a homemade tripod. Nor would they have dug out a commonwealth hinge and latch which are o longer produced and used that. Or left those eye catching points on top of the forward holes. Or have done such a poor paintjob (looks almost like a rattlecan job with no prep). The whole tripod, outside of the gearbox, is all easily fabricated in a home workshop. There are no pressed or machined parts. And without documentation, the rarest prototype is next to worthless. I am certain this is not a military prototype or military produced at anything beyond an unofficial level. The military has some pretty strict rules about what you use when operating weapons systems, if that is what this is for. Last thing you want is a tripod tipping over during firing, or the steering box having several degrees of backlash.

That just makes it rarer and more valuable
 
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