The Waterloo Boy Co. of Waterloo, Iowa started building these tractors in 1914, up through 1923. They were bought out by John Deere in 1918, and this became John Deere's first tractor. Several versions were built for a total of over 9,300 units. This model represents the Model R. It had only one gear forward and one reverse gear, each yielding a top speed of 2mph. The tank on the front holds kerosene. Gasoline was needed to start the engine, but kerosene is needed to actually run it. When compared to prototype photos, the Ertl model (part #562; no commercial web site shows this model anymore) is a bit crude, but it matches the dimensions pretty well and has the overall correct shape. The wheels on this diecast model rotate.
(external link: Wikipedia (has prototype photo))