what is the liquid is in it

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thank's for the input I think i'll replace as per 66ply valiant comment i'm just stating what is on the car we bought it is a 340 with a 7 al-2 msd with a 8000 chip Mallory 28880 coil it had a 488 gear, reversed valve trans, line lock from what I can tell a 3500 stall 750 holley this car was built for speed with the best at that (70's) time just trying to tame it to enjoy this was a barn find so please bear with me this is more than gas spark air for me
 
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