It looks like a Rosary cross to me. Quickly looking up Rosary practice, I found that it used to be common practice for families to pray the Rosary together as a form of communal worship. Here is a piece by Pius XII discussing it:
"The custom of the family recitation of the Holy Rosary is a most efficacious means. What a sweet sight - most pleasing to God - when, at eventide, the Christian home resounds with the frequent repetition of praises in honor of the High Queen of Heaven! Then the Rosary, recited in the family, assembled before the image of the Virgin, in an admirable union of hearts, the parents and their children, who come back from their daily work. It unites them piously with those absent and those dead. It links all more tightly in a sweet bond of love, with the most Holy Virgin, who, like a loving mother, in the circle of her children, will be there bestowing upon them an abundance of the gifts of concord and family peace." - Pope Pius XII.
I am pretty sure that is what is going on here, from my limited knowledge and a little research. This was possibly the crucifix from someone's rosary, used for family prayers and containing the names of his loved ones.
Perhaps your local genealogical society could connect the names to a specific family in the area?
