Thanks for the responses!
Been away from the computer for a few days. I'll try to answer all questions and comments.
I don't think it's a string dispenser, it's too small. It's made of all brass, but the base may be
plated. There is no insulation of any kind to be seen. The rod has very fine threads, and the
ends have a four-flat thing (looks like a micro wrench will turn it), which will move the disks
in very small increments. There is no visible hookups for electricity, but it would be worth a
ton if it was associated with Tesla.
So far the Wooly Mammoth theory is the best guess.