What is it?

[Ben H]

1939 Cape Cod. Located in the hallway at the baseboard. The handle moved, but didn't seem to be connect to anything. I was guessing some kind vent...

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[John Kogel]

If there is a basement where there might have been a furnace I would say it was a remote furnace control.

[Jim Katen]

It's the old furnace draft control.

[Bill Kibbel]

https://www.inspectorsjournal.com/forum ... C_ID=17629

[hesterd]

I had one of these (damper control) on an old wood burning furnace.

[Les]

Ben, a chain ran around the wheel and open and closed the damper/door. look for two holes in floor; one on each side. often the control was further off floor mounted on casing. the other components can be found in the basement usually on the joist - small pressed pulleys and an eye hook to fasten them.