This is a fun postwar accessory. A log car dumps logs into the tray on the right. When the 464 saw mill is turned on, the logs are pulled into the building and finished lumber comes out on the left.
The lumber is loaded into the mill using the slot on the roof. The back has a door to get the logs out.
Lionel made the 464 from 1956 to 1960. There are no variations. This unit has been reissued by Lionel in a number of colors and numbers since 1980.
When found, the red sawdust collector on the roof is often missing or broken. Replacements are available.