Transmission question (newbie, please be gentle)

[Andy Menapace <a.menapace@xxxxxxxxxxxxxxx>]

Through marriage, I have acquired a 79 Spider.  I've done some work under
the tutelage of Mike Hemsley and Richard Jemison.  I have a question about
the transmission that may take a brief description to explain.  I have
referred to the Bible and to the Owner's manual (both on my bed-side table)
and don't recall seeing anything on this item.
 
Placed high on the passenger side of the transmission housing, near the
engine is a slot (roughly 1.5 inches tall and 3 inches long).  Out of the
slot is a plate, horizontal and perpendicular to the drive shaft.  This
plate is connected to a rubber bulb that is filled or saturated with Fluid
(brake, transmission, clutch?).  When the motor is running, the fluid is
sprayed lightly from this bulb to the ground.  What is this part and how
should I go about fixing it, if at all?
 
Humbly,
 
Andy Menapace
Brandon, MS
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