Kind of looks like a control for a three point hitch for farm implements (or a box blade) to me, if you intend to keep the backhoe on it all the time then you would never use it.
Cool project. Is it for buiseness or personal use? Is MF Massey Furgerson ? HOw popular are mf over there? Wonder how hard Parts are to find for something that vintage? Clicked on your attachment pics and got invalid search . I,m interested I doing the same thing finding old tlb and fixing it up . Just trying to find the right deal.:drink: