What is this component? 1970s electronics
What Is This Component?

It's the outer magnetic coil of a reed relay. The two axial connections connected into the glass body are for the reed contact: -

The picture above shows the coil (bottom) and a couple of reed contact options with the top being a SPNO. The lower one looks like a 4PNO device But they could easily be NC types.
Here's an article that shows this explanatory picture: -

Good luck.