This is a little hit and miss engine from Macleod's. It is 1-3/4 HP.
I just fired it up for a few minutes here. The drip oiler is removed in this video, as I wanted to put some oil in the tube to ensure the piston and cylinder were well lubricated before starting the engine. This little hit and miss engine likely ran a water pump or small hammer mill (grain grinder), or perhaps even a washing machine on a rural prairie farm. The engine has been restored, and still wears it's original Wico EK Magneto. The muffler is not original (it is from a 6 HP Wisconsin engine, and it does quiet the exhaust noise down quite a bit.) Plans are to get an original dish-type muffler for the little engine.