Weird thing in transmission filter

Hi, I was changing the transmission fluid on my 1973 coupe.. it has the c-4 automatic transmission. When I took the filter off this weird little brass fitting fell into the drip pan.. the fluid looks good I can just tell it's old. There were no chicks of any kind.. here is a picture. Any idea what this is? Also I had to update my email so I will get notifications now on responses.. thank you
 

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