Need help identifying component

[alini]

I just pulled this guy out of what I believe is a 1937 Climax Q-69. I have a schematic diagram for it but not much of what is under the chassis matches it… Several people must have been in there since the late 30s.
It is a Micamold part, so I suspect that it is a capacitor. The capacitance values I get on my LCR meter are all over the place, with the lowest reading (~70nF) @ 100KHz. It looks a bit like a mica cap but in that case it should read 100pF based on the colored dots. Resistance is about 240 ohms. I did an image match search on the web with no success (so much for AI…).
I am sure some of you must have seen something like this before.
Any help would be greatly appreciated,
Andre
London, ON

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