Kelly Black Raven 2 1/2 Lb Broad Hewing Hatchet Axe.
Black Raven axes were considered to be a premium axe. It was manufactured at their foundry in Charleston, West Virginia, and introduced in 1904 by Kelly Axe Manufacturing Company.  These are some of the most sought-after American axes. In prime condition, these can be worth over $1000 at auctions. 
 heartily used condition.  restoring this cool piece of history might be possible. The axe head shape is a bit different than the ones often found.