Rabbit has pretty well defined the cup grease. Much old equipment had these types of lubricators including a lot of farm equipment, farm engines & even early tractors etc. The cup was filled with the grease & at regular intervals the cap screwed down to force grease into the bearing. The carrier for the grease (heavy oil) was of a somewhat fibrous nature, have no idea as to what it actually consisted of. Also have no idea if anything similar is still available.

Miller/TN
I Didn't Say Everything I Said, Yogi Berra