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Possibly it's a dipping thread. The second transformer I looked at has one on top and one on the bottom, and they're long enough for that purpose. I don't think Atwater Kent would have needed to varnish the outside since they were entombed in sealer, but I don't know if Atwater Kent made the transformers or if they came from a different manufacturer.
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Winky Dink
Damn the patina,
Full speed ahead!
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