Not sure what the brass pin or tube is. Is it solid or hollow. If hollow, does the hole come through the steel plate?
The rusted pin - does it look like it could have moved in a single direction and moved the gears on the other side of the plate? If so my guess is a level sensor. The two flat tabs on the other side would be electrical connections for push on 1/4" connectors. If so, the brass pin could have been either a positioning device to make sure the sensor was put in correctly or it may have been a vent/overflow.
Another possibility is that the steel shaft is bent and should have come straight out of the plate. If so, it may have rotated and turned the gears for some kind of pulse output. (To arm a bomb?) If so, bomb may have gone off creating the crater. May be pieces of bomb casing in the general area.