Ax head identification?

Likely vintage domestic manufacture (and therefore to be 'top drawer' quality steel and blade hardening) but having to deal with those era-fashionable maybe-useful ridges would certainly slow down my enthusiasm for potential ownership. Seems to me proprietary eye ridges was a convenient way of frustrating ordinary folks into buying new axes when handles broke, and epoxy-set hafts marketed by another prominent USA maker, was another. We're talking early to mid 1950s when the concept of consumerism and planned obsolescence was still in it's infancy.
Beauty of axe heads is (if they're well made and not integral-head plastic-hafted versions) anything else that needs doing to craft or recreate a complete tool is relatively simple.
 
It weighs about 65.7 ounces or 4lb & 1.7oz.

Which part of this ax goes up or is top/bottom? I am pretty certain based on how it looks, but just want to be sure. Setting this down flat, I measure 1" space on one side and 7/8" on the other. It looks as though the 1" gap will face down. What do you think?

I am going to set a handle. Do you think I should groove the handle for the ridges or fit it and let the wedge figure it out?

Thank you for your help!

Is this a basic double bit firewood ax? Based on my "Google Research" it appears to be a Swamper axe -
IMG_9310.JPG
 
Some axes are designed to be reversible. The idea is that as you wear the toe you can flip it over and use the heel as a fresh toe. To see if there is an up or down to that axe measure the width of the eye with some inside calipers. The larger side should go up. If the two sides are very close to the same size then your axe is reversible. FWIW, I think Collins sold their axes with the 'C' in Collins at the top - i.e., as you have it now.
 
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