Tittle on the 'i' is round, so I think it's more likely to be this, although the sample is rather small…
The 'TOMAS WALCOT' is white out with an outline so it looks a lighter weight and the 'S' is (one of many) alternates.
manually condensed and the drop shadow is an FX (not the URW Hobo Relief cut http://myfonts.us/td-JT7Jfy
The best I've come up with to-date is it's heavily modified LHF Iron Horse. This refers.
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