It's an unusual composition. The higher central figure seems to be seated, with legs crossed (more like a real person than a statue, perhaps?). I wonder if this is meant to depict some sort of procession? The torches could just be symbolic, or maybe also point to a procession, at night, perhaps?
I've been trying to see if carrying a seated figure belonged to any sort of
roman tradition, but can't find anything. I did find this reenactment picture (from UK, meant to show emperor
Hadrian being carried) of a sedan chair, but normally for
rome we hear about a litter (lectica) being used, where the passenger is reclining, not seated.
Cohen seems to have a line drawing of this same specimen (with a crude
face added to the central figure).
Ben