This appears to be an old right of way marker for the Winona Interurban Railway, an electric railway that carried passengers up until the 1930s and then on part of the line carried freight until the early 1950s. The marker is on the south end of Goshen, Elkhart County,
where the interurban once paralleled the old Big Four Railroad, later the New York Central and now Norfolk Southern. Now there is a walking, jogging and bicycling trail where the interurban line used to be. The marker is too far from the railroad tracks to be a railroad right of way marker and those markers, also nearby, are taller anyway.