Odd Brass Fitting

[mojjax]

What is this called ?

 

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[Gambrinus]

I believe you have a Threaded Brass Oil Cup, this pic is the closest too yours that I could find. WT Threaded Brass Oil Cup

 

[Bigcypresshunter]

good ID. beat me to it. Those were filled with oil so a bearing never ran dry.
http://hcca.org/classifieds.php?sort=photos

 

[Tony in SC]

Oiler it is. That is the very old style, they usually had a ball of felt in them the so the oil would not run out all at once. That style, cast, started in the mid 1800's on steam engines, sawmills, and later hit&miss engines. The engine in my avatar has a couple. The ones with a logo cast in (IHC etc) are worth $60 and up.

 

[Gambrinus]

My 1950s Sears Craftsman metal lathe has cups like the one in the pic I posted, and yes you need a wick of some sort or else you will be buying an awful lot of oil.
Great find by the way.